PHOENIX (Opendoor) – The Phoenix real estate market is hot, so it’s a great time to sell a home here and an even better time to buy.
One of the things that makes Phoenix unique is that even though it’s the fifth-largest city in the country, with everything a big city offers, it has that special small-town feel. There are community celebrations and festivals, art galleries, and cultural experiences galore. What’s more, Phoenix is growing. According to the U.S. Census Bureau’s 2020 population estimates, Phoenix was one of the top 10 cities to add residents.
Competition for Phoenix homes is high and the processes of buying and selling can be complicated, but that’s where Opendoor comes in.
“Opendoor is a one-stop shop -- a fast, easy and certain solution for eligible homes, unlocking equity for homeowners to purchase their next home,” explained Beatrice de Jong, Opendoor’s consumer trends expert.
According to de Jong, 85% of homebuyers have run into offer-related challenges, whether it’s waiting to hear if their offer is accepted or coming up with the cash for a down payment.
With Opendoor, Phoenix residents can sell and buy at the same time – in one transaction. You won’t have the hassle of dealing with multiple players. Opendoor’s team will guide you through everything.
“You can literally buy and sell all in one go and have the confidence of knowing you’re going to sell your home and have that buying power and confidence on both ends and in getting what you’re looking for,” Phoenix resident Tyler Botma said.
With that in mind, there are two things you need to do right now.
Figure out what you really want in a home
“You really want to separate the must-haves from the nice-to-haves,” de Jong said. If you can be flexible on some of your wants, you have a better chance of finding a place you’ll love.
Start the process as soon as you can
“Getting pre-approved with a lender will tell you how much house you can afford,” de Jong explained. Estimating your monthly mortgage payments is critical. Opendoor’s mortgage calculator will help you out.
Can I compete with cash buyers?
Yes, with Opendoor’s help.
Cash is king with it comes to buying a home. “We know cash offers are about two times more likely to win out in a bidding war.”
Opendoor-backed offers can level the playing field for you. “There’s no financing contingency and customers have more buying power,” If there’s any issue with financing, Opendoor can step in -- buy the home for you, hold on to it for you, and then sell it back to you.”
If you’re buying, the Opendoor app will show you new homes as they come on the market.
For sellers, your address and a few details about your home are all you need to provide to get a preliminary offer from Opendoor. It’s easy, and it’s fast.
“If you like that offer, the next step is a video walk-though … and then you get to choose the close date.”
Opendoor streamlines the selling process
Adam Leon, who sold his Phoenix home to Opendoor, had bought and sold homes before, so he knew what he was potentially getting into. Then he requested an offer from Opendoor.
“It was a pretty easy decision for me and my wife, because we didn’t want to face the stress of having to show the house or have it sit on the market,” he said. “It really was a no-brainer.”
You also don’t have to worry about repairs potential buyers will inevitably request. Opendoor will take care of it with no out-of-pocket costs to you.
You call the shots when you sell to Opendoor
Selling to Opendoor also gives you the flexibility to do things on your timeline -- not somebody else’s.
“That was a huge selling point for us,” Leon said. “Rather than being at the whims of a home buyer, we could drive the process.” That came in handy when he and his wife had to push their closing date by a couple of weeks.
By putting you in charge of your closing date, Opendoor lets you avoid double moves and, worse, double mortgage payments.
Selling a home the traditional way is full of uncertainties and fraught with stress. Opendoor alleviates those with a guaranteed sale at a fair price. There are no what-ifs or curveballs. Opendoor’s team makes sure that you know what to expect and is more than happy to answer any questions you have.
“Compared to the old way of selling, this transaction was the easiest I’ve ever done,” Leon said.
How does Opendoor work?
“Unlike flippers or other buy-low, sell-high investors, our business model is fee-based,” explains Opendoor’s website. “We use recent, comparable home sales to make a competitive offer on your home. Then, if you decide to sell to us, we take a service charge out of the sale proceeds similar to how an agent takes a commission in a traditional sale.”
That charge is 5%, which is less than the 6% commission for the agent in a traditional home sale. You also won’t be making any buyer-requested concessions.
“The service we provide is the certainty of an all-cash offer on your home and the ability to move on your own timeline; we’re also dramatically simplifying the home selling process for a better experience overall.”
Requesting an offer from Opendoor costs you nothing. The service is free and there are no obligations.
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Sponsored - The above content is created on behalf of Opendoor and does not reflect the opinions of Gray Media or its editorial staff. To learn more about Opendoor, visit www.opendoor.com/.