In 2023, cash buyers bought 34% of properties, which proves they're becoming more attractive to sellers.
Selling your home for cash has various benefits, from minimal paperwork to a quicker sale. But if you've never considered selling houses for cash only, you may be unfamiliar with the process.
Sounds like you? Don't worry, we've got the answers you're searching for. Here's everything about houses for sale cash only in Phoenix, Arizona.
Why Choose a Cash Buyer
There are multiple reasons to prioritize cash buyers. The biggest is the fast transaction and zero closing costs. There's also a lower risk of the deal collapsing, giving sellers peace of mind.
Check Property Value
Like with any home sale, find out the property's value. Sellers should contact a local real estate agent for a free valuation or use an automated valuation model (AVM), an accurate pricing tool. If you choose the latter, know it gets data from similar listings and title companies to get the asking price.
Understand the Different Types of Cash Buyers
Before accepting cash offers, understand the different types of buyers, so you know what to expect.
A common one is franchisors, real estate investment companies who buy the properties as-is. Sellers may also attract house flippers looking for homes that can be renovated to earn a hefty profit. Or, another guaranteed quick home sale is being approached by buy-and-hold investors who convert properties to rent them out.
Once you've received an offer, compare it with your property's value and see whether it aligns. If it doesn't, challenge the price or find another cash buyer who offers a reasonable amount.
Pass the Home Inspection
Most cash buyers will ask for a home inspection to check nothing is wrong with the property. You can avoid renegotiating by tackling smaller repair jobs or giving a dated room a fresh lick of paint. But know this is standard, so don't invest thousands into unnecessary renovations.
Clear Title
Sellers choose cash buyers because they don't want to waste time dealing with home financing, but title problems are another matter to consider. Although cash buyers don't need a mortgage, a title search reveals if there are unpaid taxes or other issues that prevent the sale from closing. Our top tip is to order a preliminary title report at the beginning, so there aren't any surprises later.
Review and Sign the Closing Documents
Once that's been sorted, move on to the final stage of the process. The real estate attorney will ask both parties to sign and finalize the closing documents. Once completed, you'll receive the cash and the home will officially be in the buyer's name. Congrats!
Find Houses for Sale Cash Only
Now that you're taking the houses for sale cash only route, it's time to find a reputable company.
At AZ Home Buyer, we work with sellers to simplify the process. Using our experience selling properties in Phoenix, Arizona, we guarantee a stress-free experience.
If you're ready to sell your home, contact us today and chat with a member of our team.
