FAQs - Frequently Asked Questions

  1. Can you give an example of a typical transaction and compare it to selling my home the traditional way through a real estate agent?
    Yes. Let's say your home needs $10,000 in repairs in order to be ready to sell, and that after repairs it will appraise for $125,000. Your current monthly payment is $800 and your loan balance is $70,000.

    Traditional Sale
    $125,000 After Repair Value
    x 94% Typical Retail Sale Price Ratio (why?)
    117,500 Actual Sale Price
    -70,000 Loan Balance
    47,500 Equity Before Repairs/Sale
    -10,000 Cost of Repairs
    -4,000 Mortgage Costs ($800 x 5 months)
    -8,225 Real Estate Agent Commissions (7%)
    -3,525 Closing Costs (3%)
    $ 21,750 Your Net Amount Received at Closing

    Quick Sale to Us
    $125,000 After Repair Value
    x 70% Typical Wholesale Sale Price Ratio
    87,500 Actual Sale Price
    -70,000 Loan Balance
    17,500 Equity Before Repairs/Sale
    -0 Cost of Repairs
    -0 Mortgage Costs
    -0 Real Estate Agent Commissions
    -0 Closing Costs
    $ 17,500 Your Net Amount Received at Closing


    Bottom Line: In this example, selling the traditional way could net you $4,250 more money, but you have to make and finance repairs, keep your house in ready-to-show condition, show your house, and wait 5 months on average from now to the point where all of the repairs are made and you are actually at the closing table. You also have to hope that you don't run into a buyer that can't obtain financing, otherwise you have to start the clock over again, wiping out the extra $4,250.

    This is just one example. It is also possible in some cases to walk away with more money by selling to us versus taking the traditional route. When you work with us, you will get an offer in 48 hours after we see your house (probably immediately), we will pay all of the closing costs, and we can close in 7 days or less.


  2. I owe about as much as the house is worth. Real estate agents don't seem to be able to help me. They say I don't have any equity. Is there any way that your company can buy my house?

    It is true that there needs to be some equity in your home in order for an agent or an investor to get involved, but there are many ways to create equity that real estate agents can't do and others don't know how to do! For example, we can create equity through smart repairs and upgrades. Also, if you have missed any payments, or you are facing that situation soon, then your lender might be willing to negotiate a short sale with us as a ready and able buyer so that everyone can come out a winner. There are other ways to turn your situation into a good deal for everyone involved. Don't assume that you have no way out. Give us a call and talk to us about your situation.


  3. I have a recent appraisal. Is that what my house is worth?

    Most likely your appraisal is high as compared to the actual value a homebuyer will pay. Appraisers often feel pressure to look on the bright side. Lenders get to make more loans with a higher appraisal, so there is some push there. Also, real estate agents are always trying to push home values higher to get higher commissions. It's not that anybody is lying, it's just the way the system works.

    Homebuyers help keep the system in check. In practice for the Phoenix marketplace, a retail homebuyer will pay between 90-95% of a fair appraised value, and a wholesale buyer will pay between 65-80%.


  4. I'm facing foreclosure. I want to sell my property and avoid the credit problems that come with a foreclosure and with filing for bankruptcy. Can you buy my house fast?

    Buying property in distressed situations such as foreclosure is our specialty. Foreclosure property usually needs repairs, and since we can do repairs for less than retail pricing, there is likely to be a win-win solution. We will make an offer within 48 hours of viewing your home and close in 7 days or less provided you and your lender work closely with us and your home meets our criteria. We can help you avoid foreclosure.


  5. I'm facing foreclosure. Is there any way that the foreclosure can be stopped so I can stay?

    Yes, it's possible. We will be happy to provide you with options to stop your foreclosure and allow you to stay in your house. Read more about stopping foreclosure.
Sell Your Phoenix Arizona House for Cash. We Buy Houses Quick.