Selling a property is never easy, especially when you’re trying to manage it from afar. James, the owner of a home on Hubbell St in Phoenix, AZ, was overwhelmed by the burden of being an absentee owner while also facing medical expenses for his wife.
My company, AZ Home Seller Solutions, stepped in to help James find a solution—one that allowed him to sell quickly, as-is, and for cash, making a stressful situation manageable.
The Seller's Challenge:
Absentee Ownership and Mounting Medical Expenses
James was dealing with multiple challenges. As an absentee owner living out of state, he found it increasingly difficult to manage the property.
The home needed significant rehabilitation—at least $55,000 in repairs—to bring it to market value, and James didn’t have the time, money, or capacity to deal with such an extensive project. On top of that, his wife’s medical expenses were piling up, adding more urgency to the need for a quick sale.
"I needed to sell quickly to cover my wife’s medical expenses, and AZ Home Seller Solutions stepped in with a simple, fast solution. They made the process easy and kept every promise they made."
James fauci
Distressed Homeseller
James received one of our direct mail promotions and decided to reach out. He was looking for a fast and straightforward way to sell the property, one that would allow him to cover his medical costs without the hassle of rehabbing the home or waiting for a traditional sale.
A Home Ready for a Transformation
These photos highlight the outdated condition of the property and the extensive remodeling it needed. They provide a clear picture of the starting point before the sale.
Our Approach:
Speed, Transparency, and a Win-Win Outcome
After receiving James's inquiry, my acquisition manager, Brian, scheduled a walk-through of the property. During the initial assessment, it was evident that the home required substantial repairs, which we estimated at over $55,000.
To make this work for James, we offered $240,000 for the property, contingent on our inspection. After a deeper evaluation and considering the input from several of our buyers, we successfully renegotiated the purchase price down to $200,000, which was fair given the extent of the repairs needed.
To make things as easy as possible for James, we agreed to pay all closing costs and purchase the home as-is, with no repairs or credits requested. The contract was contingent upon our inspection, and we agreed to a 14-day close of escrow.
Once everything was in place, my transaction coordinator sent the contracts to our title company to set up escrow and start the preliminary title report. My disposition manager then launched a campaign to find a qualified buyer, sending an email blast to our buyer network.
Step 1.
Initial inquiry from James and discovery call to understand his needs
Step 2.
Property walkthrough and initial offer made
Step 3.
Renegotiated offer after inspection and buyer feedback
Step 4.
Drafted and executed purchase contracts, contingent on inspection
Step 5.
Sent contracts to title company and began escrow process
Step 6.
Marketed property to buyer network, identified strategic buyer
Step 7.
Closed transaction through double escrow flip
The Agreement That Made It Happen
This purchase contract reflects the as-is cash offer with no contingencies. It showcases the simplicity and efficiency that James needed to move forward with the sale.
The Results That Made the Difference
The initial purchase price agreed upon with James was $200,000. After securing our preferred investor buyer, we were able to resell the property for $215,000.
This strategic buyer, with whom we had completed multiple deals in the past, was prepared to do a full rehab of the home. After the renovation, the buyer was able to resell the property for a gross price increase of $123,000.
Despite needing to renegotiate the price and factor in a $40,000 repair credit, we managed to close the deal in just 14 days after the buyer signed the contract and deposited earnest money.
James was relieved to receive his full proceeds and appreciated that we handled all the closing costs as promised, making the entire process as stress-free as possible.
$200K Cash Offer: Fair and Fast
James accepted our cash offer of $200,000, providing him with immediate financial relief and peace of mind.
$215K Resale: Maximizing Value with Efficiency
The property was resold for $215,000, generating a positive return and a win-win for all parties involved.
14-Day Close: Speed Meets Success
The transaction was finalized in just 14 days, meeting James’s need for a quick and hassle-free resolution.
Closing with Confidence
The closing statement and proceeds check from the resale transaction demonstrate the successful completion of the deal. These documents highlight how we ensured confidentiality and a positive outcome for both the seller and the buyer.
“Quick, problem-free transaction with Rafael’s team!”
Rafael and his team helped me secure an acceptable deal quickly after months of struggling to sell my property. They covered all closing costs and honored the initial price despite a few restructuring needs. Their professionalism and efficiency made the entire experience smooth and satisfying.
Top Tips for Selling as an Absentee Owner
Selling a property when you’re not physically present can be challenging, but there are strategies to make the process smoother. Here are some lessons from James’s case that might help other absentee owners:
top tips for
sales success
Work with a Trusted Partner
It’s crucial to work with a team you trust, especially when you can’t be there in person. Transparency and reliability are key to ensuring a successful sale.
Sell As-Is for Convenience
Selling a property as-is without needing to handle repairs can save a lot of stress, especially if you’re not able to be present.
Leverage Cash Buyers
Cash buyers can close quickly, which is a huge advantage if you’re trying to sell from afar and need the proceeds urgently.
Securing the Sale with Clean Title
This title insurance commitment illustrates how we resolved minor title issues to ensure a smooth closing. It emphasizes the importance of diligence and thoroughness in real estate transactions.
Lessons Learned:
The Power of Flexibility and Communication
This transaction emphasized the importance of flexibility. By being open to renegotiation and finding a price that worked for both sides, we were able to ensure that the sale moved forward smoothly.
Additionally, maintaining open communication with James throughout the entire process—from initial contact to final closing—helped keep him informed and reassured at every step.
The value of having a strong buyer network also played a major role in the success of this deal. When one buyer faced complications, we were able to pivot quickly and bring in another qualified buyer, ensuring the sale stayed on track.
Need Help Selling Your Property Quickly?
If you’re an absentee owner looking for a fast, stress-free way to sell your property, my team and I are here to help. We specialize in handling everything from negotiations to closing, making sure you get what you need without the headache.