Even though you’re trying to sell a house fast in Phoenix, you need to look for red flags that can pop up during the process. It’s no secret that selling a home can be intimidating, but if you prepare and stay alert throughout, you’re sure to reach a successful outcome.
Here are four red flags to watch out for when selling your Phoenix house. Once you identify these, take a step back and consider your options before proceeding.
1. Small Deposit
When a homebuyer really wants to purchase your property, they’ll put in a sizable deposit as a down payment. This deposit will be considered part of the down payment when escrow closes. Serious buyers tend to make sizable down payments because they have no intention of “pulling a fast one” later. Also, a smaller deposit may indicate that the buyer is not ready to take the plunge into homeownership.
2. Buyer Refuses Legal Assistance
It’s crucial to have a complete understanding of any contract before signing it, especially when it comes to real estate. The legal language can often be intricate, so you may need professional help if you have any doubts or questions.
Consider this a big red flag if a buyer shows any signs of unwillingness when you say you want a lawyer involved. Also, be wary of buyers who don’t want to work with a title company or notary to formalize the deed of sale. And those who keep insisting that you sign an agreement—watch out for them too.
3. Excessive Buyer Contingencies
So right now, you’re probably thinking: “I need to sell my house fast in Phoenix for the best price. But if someone makes an offer with a number of contingencies attached, get your guard up—they may have a hidden agenda. They may be trying to take advantage of you—seeing how much they can get for free before they really have to pay up. Therefore, evaluating all the contingencies before signing any agreement is essential.
4. Buyer Isn’t Pre-Approved
As a seller, dealing only with pre-approved buyers can save a lot of time. Conversely, waiting for the lender’s letter may slow down the process; it could even result in a missed opportunity. Additionally, it’s essential to be wary of buyers who are not pre-approved. You could start the process with one, only to find out later that they can’t close a deal.
If you want to avoid these red flags and other risks involved in the home-selling process, consider selling your house to genuine cash home buyers in Phoenix. We are trusted investors who purchase properties as is; you won’t have to deal with contingencies, negotiations, closing costs, or commissions. At Diamond Equity, we buy houses in Phoenix, regardless of their condition or location. We offer a stress-free process perfect for homeowners looking to sell in just a few weeks. Contact us now to learn more!
