Selling a home can be a long, stressful process. Even if everything seems to be in order, something could come up and prevent the sale from going through. Although some of these last-moment problems can’t be totally prevented, knowing what could happen could help you sell a house fast in Phoenix.
1. The Mortgage Wasn’t Approved
There is nothing you can do about this. Before the sale closes, the buyer is responsible for ensuring everything is in order with their mortgage. Some individuals seek pre-approval before even beginning the home buying process so they know what they qualify for. For this reason, when you get a bunch of offers, make note of who’s pre-approved for a mortgage and who isn’t. Striking a deal with someone who’s pre-approved is likely to go smoothly.
2. The Appraisal Didn’t Come In At The Expected Value
A home appraisal will help the lender determine whether or not writing a mortgage for the property is worth it. An appraisal can also help the seller determine a fair listing price. But if the property is deemed overvalued by the lender, the buyer may be prevented from getting a mortgage. And if the property is undervalued, the buyer may have to pay more in interest.
3. The Buyer Found a Better Deal
What constitutes a “good deal” depends on who you ask. In other words, a buyer may think a deal is good while the seller views it as a lowball deal. If you want to keep a buyer interested in your property so they stay away from similar homes that are on the market, offer attractive seller incentives to close a deal.
4. Issues With Legal Documents
Since there are many legal processes woven into the traditional home selling method, you may run into title problems, unpaid taxes, property line disputes, or other legal issues. Or the buyer may not have some important document required to secure a mortgage. Since a home sale is a high-value transaction, it’s important to have all paperwork in order as soon as possible.
5. The Buyer Just Got Cold Feet
If this happens, you can’t do anything about it. The buyer may walk away for a reason that doesn’t make much sense to you. And refrain from trying to convince them to change their mind, as this may make them resentful. Just accept that someone else will eventually come along and purchase your home. This way you don’t make an unfortunate situation worse.
Be proactive and take necessary steps to ensure a smooth sale. But also be ready to let go when a potential buyer doesn’t seem like a good fit. Individuals in the U.S. are looking for homes every day—the right buyer WILL come.
But if you hate the ambiguity and want a smooth, transparent home sale, sell to cash home buyers in Phoenix. There’s no lender involved, so you can close the deal in less than 30 days. Sell as is and move on with your life.
Call Go Fast Offer today and get a 100% no-obligation cash offer on your home. We buy houses in Phoenix regardless of condition.