The real estate market is challenging in Phoenix. Both buyers and sellers are facing headwinds in the current market. Factors like high mortgage rates, low inventory, and stubborn home prices have a significant impact.
The Phoenix area does have significantly more real estate activity than immediately following the COVID-19 pandemic. At its lowest point, there were fewer than 4,000 homes on MLS. While throughput has not returned to pre-pandemic levels, there are still more than 13,000 homes on the market.
Home-buying companies can help you navigate these challenging times. Read on to learn how to vet cash home buyers in the Phoenix area.
Do Your Research
Before selling your home to a direct buyer, it is essential that you perform online research. For starters, you should read company reviews to make sure there are no show-stoppers. An overwhelming number of negative reviews is a red flag.
Carefully read customer testimonials to see what their experience was like. You can benefit from their lessons learned and avoid specific issues.
The Better Business Bureau (BBB) is a powerful resource in your research. The BBB tracks complaints against companies and will draw attention to scams or illegal behavior.
You should also look into the company's history. How many years in business do they have? The longer they have successfully run the business, the more confidence you can have in them.
Reduce Costs
Cash buyers offer a number of benefits that allow you to reduce selling costs. Your buyer should demonstrate to you a positive return on investment.
For example, many cash buyers are willing to waive the property inspection. Many people have the experience of a home inspection derailing their sale.
The deal is cruising along until the home inspector's report unveils an issue with the home. The buyer asks for concessions or wants to negotiate a new sales price.
Litigating home repairs can become a timely process. It is known to push closing to the right. Instead, a direct buyer willing to waive the home inspection helps you avoid costly repairs.
Direct buyers also eliminate real estate agents from the deal. You can avoid real estate agent fees and commissions that add up to tens of thousands of dollars.
Transparency
When selling your home, it is important to use cash buyers that are transparent. While it sounds easy, a contract will still be drafted.
On a deal as big as a home sale, the finer details are critical. You have to make sure that there are no hidden fees or costs in the small print.
Your Guide to Vetting Home-Buying Companies
You are now ready to sell your house to a direct cash buyer. Before selling to a cash buyer, you should perform extensive research and make sure the company is transparent. They should be able to demonstrate how they reduce costs.
AZ Home Buyer has the track record to meet your needs. They can help you sell your home for a fair price in a timely manner. If you are shopping for home-buying companies, contact us at AZ Home Buyer to speak with a professional.
