When it’s time to sell a house, Tuscon homeowners have two main options. They can attempt to sell on the traditional market, either with a real estate agent or FSBO (for sale by owner), or they can work with an off-market company like We Buy Ugly Houses®.
Most home sellers are familiar with the traditional market but may not be as familiar with the advantages of selling off-market. Working with an off-market buyer like We Buy Ugly Houses allows you to avoid making improvements and repairs while helping to ensure a fast, hassle-free closing.
Traditional versus off-market home sales
In traditional home sales, the seller typically hires a real estate agent who lists their property on the MLS system. Potential buyers view the property online, at open houses, and during showings. If everything goes well, a buyer eventually makes an offer and the house is sold. The real estate agent is paid a commission afterward. According to Clever Real Estate, commission has averaged around 5.4% of the sale price across the state of Arizona in recent years.
Similarly, the owner can attempt an FSBO sale. In this case, the seller doesn’t use a real estate agent. The seller prices and markets the house themselves. The seller also sets up showings and handles the legal side of the transaction.
Whether you use a real estate agent or go FSBO, most homeowners will need to take several other steps to get their house ready for the Tucson real estate market. This can include making repairs, painting, and deep cleaning. Once on the market, the seller may have to decide on a new sales price if they aren’t getting offers, as well as make sure the home is always ready for the next showing. The seller also needs to pay holding costs like utilities, taxes, and HOA fees while the house is on the market.
With off-market sales, the seller gets in touch with a company that buys houses in Tuscon. The next step is that the off-market buyer will take a look at the property. If the buyer is interested in that kind of house in that particular neighborhood, they will make an offer. Off-market buyers regularly buy houses “as is” and offer fast closings. Some off-market buyers, like most iBuyers, charge commissions or fees, and some don’t. It’s important to ask about all the costs when selling to any company.
What is your Tucson house worth?
There are two main ways to calculate a house’s market value:
- Comps (sales comparisons): Comps are determined by seeing what comparable houses in a neighborhood sold for and setting a value accordingly. For example, a real estate agent selling a 3-bedroom, 2-bath house in Midvale Park would usually recommend a list price that is close to what other 3-2 houses in the neighborhood (or even on a particular street) have sold for.
- Appraisal: Real estate appraisal is an expert’s evaluation of a house to determine how much it is worth. Appraisers weigh features like square footage, amenities, and house condition to come up with a valuation. Appraisers also factor in location. In some cases, the appraiser will look at neighborhood comps. They may also use a cost-based approach, where they estimate what it would cost to build the house on the same land today. Appraisals are regularly done by lenders, as well as by local government to calculate property tax. Property owners can purchase appraisals, too.
What tends to matter most for sellers, however, is how much a buyer will pay for a house. If your house has a feature that a buyer really likes, such as it being in an up-and-coming neighborhood, the house might be worth more to them than the current appraisal value suggests. Similarly, a problem like water damage might put a house’s value below neighborhood comps.
Home value can also be influenced by current mortgage rates, a high number of neighborhood foreclosures, a housing shortage, and other factors that are beyond the typical Tucson homeowner’s control.
When a seller’s house has the right home value for its neighborhood, and Tucson real estate isn’t being too negatively impacted by factors like high mortgage rates, the seller will usually try their luck on the traditional market. When a house needs updates or repairs—or if the seller doesn’t want to wait around for the right buyer—an off-market sale can make a lot of sense.
Benefits of selling off-market in Tucson
There are multiple benefits of selling off-market in Tucson. These benefits include:
- No need to stage or show your house: When you sell off-market, you don’t need to invest in staging furniture or be ready to leave at a moment’s notice when someone schedules a showing. Off-market buyers are more interested in your house itself than how spruced up it is.
- Skip repairs and sell “as is”: Most off-market buyers purchase houses “as is,” which means you don’t need to invest in repairs to make a sale. For many homeowners, making major repairs to a house they’re trying to sell can be an unwelcome inconvenience. For properties with serious problems like fire damage or foundation issues, selling off-market can make even more sense.
- Move on your schedule: Unlike traditional buyers who may want to move in by a certain date, off-market buyers are usually willing to coordinate a move-out date with the seller.
- Speed to closing: Off-market buyers tend to decide on houses quickly and can close in a matter of weeks. Traditional buyers may delay for various reasons, and closing can be slowed down by lender requirements like home inspections.
- Straightforward offer: While there is always room for some negotiation in real estate, off-market buyers typically know what they want to pay for a house. Plus, the offer won’t depend on factors like meeting FHA lender requirements.
- Privacy: Selling off-market means you can avoid public listings and open houses, keeping your home and personal space more private.
- Serious buyers: When you sell with off-market buyers, you can expect serious buyers. Unlike traditional buyers, who sometimes hesitate or back out at the last minute, off-market buyers are making a business decision about your house.
Situations where house sellers choose to make off-market sales
It is easy to see why many sellers look at the pros and cons of selling off market and decide that an off-market sale is right for them. Costly problems like roof damage and faulty wiring affect many Tucson houses, and it can be easier to sell “as is.” Sometimes, out-of-state sellers inherit properties in Tucson and cannot put in the work to get the house ready for the open market. Other times, the seller needs to relocate and doesn’t want to wait for the house to sell. Some sellers simply want to sell their house fast.
How to sell your house off-market
The first step is to get in touch with an off-market buyer in Tucson like We Buy Ugly Houses®. Selling with We Buy Ugly Houses is simple. First, reach out to our Tucson team. We’ll send one of our property buyers to do a quick, no-obligation walkthrough and answer all your questions. In some cases, we’ll even make an on-the-spot or same-day offer.
If our offer works for you, we can sometimes close in as little as 3 weeks. We buy houses “as is,” which means you won’t have to clean, make repairs, or even remove unwanted items. We also don’t charge commissions or hidden fees, and we pay typical closing costs.†
We also give you the opportunity to change your mind. If you accept an offer with us and have second thoughts, simply reach out to your property buyer in writing within three days of when you accepted, and you can cancel the sale.
We buy all kinds of properties in Pima County and surrounding areas, including condos, duplexes, single-family homes, and even some commercial buildings. We’ve been in business for 29 years in the US and have a 95%* nationwide customer satisfaction rating.
If you’re thinking about selling off-market, give America’s trusted home buyer a call. We’re here. And ready to help.
