How Much Cash For Houses In Phoenix Can You Get?
If you’re thinking about selling your house, here’s how much money you can get
Sellers are asking about cash for houses in Phoenix – they want to know how much they will get if they sell their house. If you’re thinking of selling and wondering how much you might get, this blog post will help to answer that question.
An Important Definition
Given that this blog post is intended for readers spanning Phoenix and its vicinity, where varying price ranges prevail, pinpointing an exact dollar figure poses a challenge. Nonetheless, let’s explore a key concept that will enhance your understanding of how cash transactions for houses unfold in Phoenix…
On The Market: When a house is sold “on the market,” it typically implies that a real estate agent has listed the property, and it is sold after attracting the attention of multiple potential buyers, with at least one submitting an offer. Houses sold on the market often fetch a price in line with what similar properties in the area have recently sold for, commonly referred to as the “market price.”
Off The Market: When a house is sold “off the market,” it typically indicates that the homeowner has opted to sell their property directly to a buyer, bypassing the traditional listing process. Homes sold off the market often fetch a price slightly lower than the prevailing market value, a scenario commonly referred to as “below market price.”
You might be reading this and asking, “why would anyone accept below market price, and less cash for houses in Phoenix than others?”
That’s a good question but there’s more to the story:
- When selling on the market, the typical scenario involves selling to an individual or family who intends to make the house their home. They are purchasing the property for personal use. Conversely, selling off the market often involves dealing with a company that may be looking to invest in the house for various purposes. This could include turning it into a rental property or undertaking renovations with the intention of selling it later for a profit.
- When selling on the market, it’s common for buyers to rely on financing to complete the purchase. On the other hand, selling off the market, in a private sale, often involves a professional home-buying company willing to make a cash offer for houses in Phoenix. This preference for off-market sales is often driven by a desire to avoid the waiting period associated with traditional financing and to secure a swift and immediate sale of the house.
- Selling on the market can actually entail significant costs, especially if your house requires renovations and repairs. Typically, you’d need to invest money in fixing up your property before listing it. However, opting to sell off the market, such as through a company like ours at Red Rock Properties, might allow you to sell your house as-is. This approach can save you both money and the time and hassle associated with necessary improvements.
- Selling on the market through a real estate agent often involves paying commissions and fees for the services provided in selling your house. However, choosing to sell off the market to a home buying company like Red Rock Properties typically means avoiding commissions, fees, and closing costs. This can be a more straightforward and cost-effective option for sellers.
The amount you can get for your home depends on various factors. Selling on the market may yield a higher sale price, but the process takes longer and often involves additional costs such as fees and expenses. On the other hand, selling off the market may result in a sale below market price, but it’s typically a faster process, and there are no associated expenses or fees. The choice between the two options often depends on your priorities, whether it’s maximizing profit, expediting the sale, or minimizing additional costs.
So, how much will sellers get in cash for houses in Phoenix? It depends on how you sell – on the market or off the market… and that is determined by how quickly you want to sell and how much time and money you’re willing to invest to sell.