Why does the type of real estate you sell make a difference in the process?
The type of property you own can affect your pool of buyers. Plus, each property type comes with its own set of challenges, from the traditional single-family home to duplexes, townhomes, and condos. Recognizing these challenges allows sellers to make informed decisions and navigate potential obstacles effectively.
Common property types in Phoenix
Property types abound in Phoenix. Let’s discuss a few.
- Single-family homes: When people think of a house, they often envision a single-family home. These are residential structures on their own plot of land and are great for families who like to entertain outdoors or have children who enjoy a yard.
- Duplex/triplex/quadplex: These multi-tenant properties, most often built before the mid-1980s, fall under the FHA's definition of "single family" as they have fewer than 5 units. These properties often attract smaller-time investors.
- Townhomes: Similar to duplexes, townhomes share walls with adjacent units. Often referred to as "row houses," these properties have a narrow vertical footprint with several floors. These structures are usually bought by people who don’t have time to do maintenance or don’t want to. They are similar to apartments, except they are owned instead of rented.
- Condos: Like townhouses, condos share walls. Condos are popular with older people who like to live in a community with shared amenities but don’t want the upkeep of large yards, exterior painting, or repairs.
What are the hurdles faced by sellers of different types of real estate?
Local sellers in Phoenix may meet various hurdles depending on their real estate type. These hurdles may include time-consuming processes, uncertainty in buyer financing, dealing with HOA regulations, and navigating the specific considerations of each property type.
- Single-family homes: Selling a single-family home involves challenges such as making repairs, staging for photos, listing on the market, hosting showings/open houses, negotiating with buyers, and potentially facing long times on the market or to close. Single-family homes may also be part of a homeowners association (HOA), which can deter some buyers.
- Duplex/triplex/quadplex: The buying pool is typically smaller compared to single-family houses, and they are popular with investors. Selling these is usually more of a business transaction than a traditional home sale. Investors tend to provide quicker responses and show a higher level of sophistication than the average family buyer for this type of property.
- Townhouses: These structures are usually bought by people who don’t have time to do maintenance or don’t want to. Selling a townhouse is like selling a single-family dwelling, but the pool of buyers is smaller.
- Condos: Condominiums present unique challenges, with the term "special assessment" capturing the essence. Special assessments occur when an HOA doesn’t have reserved funds and charges owners an extra payment. Due diligence in researching the condo board is important. The buyer pool is smaller for condominiums.
How We Buy Ugly Houses® can help sell your property type
We Buy Ugly Houses® offers a hassle-free alternative for local real estate sellers in Phoenix. Whether you own a single-family home, multi-unit property, townhome, or condo, we streamline the selling process. Sellers can skip the challenges of repairs, staging, and lengthy negotiations. We have a quick and straightforward solution, sometimes presenting an offer on the same day as our visit.
To book a consultation, simply contact us to set up an appointment at your convenience. Our local, friendly property buyer will take a tour of your property and answer your questions. The consultation is free and no-obligation. If you accept our offer, we can sometimes close in as little as 3 weeks, and we do our best to work on a closing timeline that meets your needs because your priorities are our priorities.
We have purchased over 150,000 houses, and bring experience and professionalism to the transaction, as reflected in our 95%* customer satisfaction rating nationwide from sellers who responded to our post-sale survey, as well as our excellent reviews. We provide a smooth and efficient sale, buying “as is” and closing fast. If you're looking to sell your property without the typical hassles, contact us for a quick and convenient solution.
