If someone were to ask you, “How can I sell my AZ home quickly?”, receiving monthly payments over time is probably not the first thing that would come to your mind. You’re most likely thinking of a fast “cash for houses” type transaction, where we buy your Phoenix house for all cash, and close quickly.
But selling your home on payments, over time, can often make you a lot more money. And other times it is the only way to get your home sold without bringing a big chunk of cash to the closing table.
Although it doesn’t fit every situation, selling your Phoenix home on payments may be a great option for you, if:
- You owe more than the home is worth (aka you are “under water” or “upside down on your mortgage“); or
- You aren’t quite upside down on your mortgage, but you don’t have enough equity to pay commissions and closing costs; or
- You don’t need all your cash up front, and you would like to get a better return on your money than sticking it in the bank at a low interest rate.
When we buy a home on payments, we can sometimes buy your house for full market value, or sometimes even higher than market value!
The basic idea is that instead of receiving all of your cash up front, you will receive monthly payments over time, plus interest! You can see some example numbers at these links:
- Example numbers when selling a home with an underwater mortgage.
- Example numbers when selling a home on payments (when the home is free and clear, or you have some equity, i.e. the mortgage is not underwater).