7 Best Companies That Buy Houses for Cash in Phoenix, AZ (2023 Updates)

The home prices in Phoenix, AZ, rapidly increased by 24.8% compared to the last year. So, if you want to sell your house fast for cash, now is the time to do so.

Companies that buy houses for cash in Phoenix, AZ fall into 2 categories:

• iBuyers: Typically offer 70% to 90% of the property’s market value. iBuyers can have high service fees and do not typically buy distressed or rented properties, or properties with title complications.
• “We Buy Houses For Cash” Companies: Typically offer about 50% to 70% of the property’s market value. They usually have no service or closing fees. They will also buy properties that are distressed or rented.

💰 Get Top Dollar Cash Offers On Your Terms: Major iBuyers including Opendoor and cash buyers submit offers on Houzeo properties. An MLS listing via Houzeo.com gives you maximum exposure. List NOW!

Rankings: 7 Best Companies that Buy Houses for Cash in Phoenix, AZ

*An MLS listing via Houzeo exposes your home to the open market. The open market will almost always be more competitive than offering your house to a single potential cash home buyer.

** For 5-star Customer Reviews, ratings above 4.75 out of 5 stars have been considered. Houzeo has rated 5.0 stars on Google Reviews and 4.9 stars on Trustpilot.

Reviews: 7 Best Companies that Buy Houses for Cash in Phoenix, AZ

1. Houzeo.com

The 2 Best iBuyers in Phoenix, AZ

iBuyers, aka instant buyers or institutional house flippers, are technologically advanced cash home buyers.

iBuyers, also known as iBuyer companies, are changing the way the “we buy houses for cash” industry works by leveraging technology and market data.

» iBuyer Reviews: See our 2023 rankings for all iBuyers across the U.S.

2. Opendoor

3. Offerpad

The 4 Best “We Buy Houses for Cash” Companies in Phoenix, AZ

“We buy houses for cash” companies are conventional, fast cash home buyers. They make instant cash offers for houses, even extremely distressed properties.

Usually a “franchise” network of real estate investors and local house flippers, “we buy houses for cash” companies offer as low as 30% of the home’s fair market value.

» More : How Do Cash Home Buyers in Phoenix, Arizona Work?

4. The Trusted Home Buyer

5. We Buy Ugly Houses

6. Express Home Buyers

7. HomeVestors

Are Companies that Buy Houses for Cash in Phoenix, AZ Legit?

Yes, companies that buy houses for cash or cash home buyers are legitimate and operate legally in Phoenix, AZ.

However, no industry is free from scammers or companies following the “malign practices” that exist in every industry. So, never pay any money while requesting an all-cash offer on your house.

Check customer reviews and inspect how the company operates before signing any property documents.

Understanding Cash Home Buyers in Phoenix, AZ

Companies that buy houses in Phoenix, Arizona include institutional cash home buyer companies, local house flippers, and real estate investors. They make all-cash offers on homes and typically pay 70% to 90% of the home’s fair market value.

Cash buyer companies don’t negotiate the offer, thus leaving little room to get 100% of your home’s market value.

💲Cash for My House: List on the open market with Houzeo.com and get 100% Fair Market Value of your property.

Types of Cash Home Buyers

Companies that buy homes for cash in Phoenix, AZ, help home sellers skip the hassle of listing on the MLS, marketing, home staging, etc. Two types of cash home buyers make cash offers on homes for sale:

1. “We Buy Houses for Cash” Companies: Lowball Cash Offers But Zero Service Fees

Cash buyer companies buy distressed properties as-is and typically pay 30% to 70% of the home’s fair market value. We recommend “We Buy Houses for Cash” companies for homeowners with inherited homes that need extensive repairs, homes with structural issues or facing foreclosure, or the homes of couples going through a divorce.

Companies like HomeVestors and We Buy Houses are “franchise” networks of pre-vetted real estate investors. So, every office is operated autonomously by investors buying homes for cash. This network includes retail cash home buyers, local house flippers, and nationwide investors.

» More: How Does “We Buy Houses for Cash” Work?

2. iBuyers: Fair Cash Offers But Hefty Service Fees

Companies that buy homes for cash with instant non-negotiable offers are calculated based on the property’s location, house condition, required repair costs, calculating ARV (After Repair Value), etc. You get 70% to 90% of the home’s fair market value.

Unlike cash buyer companies that compare local sales data and rely on in-house experts, iBuyer companies use proprietary algorithms to compare millions of historical pricing trends to determine a competitive cash offer price. Opendoor offers the most cash compared to other iBuyers, while Offerpad is known for its fast closings.

» More: How Does Selling to an iBuyer Work?

How Do I Sell My House Fast for Cash in Phoenix, AZ?

Listing on the MLS is the fastest way to get instant offers from “cash for houses” companies. Cash buyer companies and local real estate investors are always scouring the MLS for properties. So, if you want to sell your house fast for cash, you can consider the following tips:

• Listing on the MLS
• Pricing your home competitively
• Offering a competitive buyer agent commission
• Responding fast to inquiries, showings, and offers.

» How Do I Sell My House Fast for Cash: Here’s a guide to help you sell your home fast.

Selling a House to an iBuyer

When selling a house to iBuyers, technology and data go hand-in-hand to calculate your home’s worth. While each iBuyer may have different ways, this is what typically happens when selling properties to an iBuyer company:

• Step 1 – Submit information about your home: iBuyers collect information through an online form or over the phone. Sellers need to share the property’s location and basic details of the house.
• Step 2 – Receive a preliminary cash offer: After an initial evaluation to check if your house passes its eligibility criteria, you usually get a preliminary cash offer. Usually, this offer is a take-it-or-leave-it deal.
• Step 3 – Complete a home inspection: An onsite visit is scheduled if you accept the preliminary cash offer. The representative will assess your property.
• Step 4 – Review final cash offer: Repair costs and expenses are adjusted in the preliminary cash offer. Then, the iBuyer sends a final cash offer for the house.
• Step 5 – Close the deal: iBuyers provide more flexibility on the closing schedule. You may be able to close within 7 days!

👉 Know Your Home’s Worth Before Selling to an iBuyer: Even if your property is eligible for iBuyers, it’s always a good idea to get an estimate from a local realtor to find out how much your home could sell for on the open market.

Which Homes Qualify for Most Phoenix, AZ iBuyers?

iBuyers only offer cash for houses that qualify their purchase criteria. Typically, these criteria are similar for major iBuyers like Opendoor and Offerpad:

• Home types: Single-family homes, Townhouses, Duplexes, Condominiums
• Year built: After 1930
• Lot size: Maximum lot size of 1–2 acres, depending upon market
• Value: Between $100,000 and $600,000 (can be as high as $1.4 million in some markets)
• Occupancy: Owner-occupied only

iBuyers have made exceptions in some markets, so it’s best to request a cash offer from an iBuyer that buys homes in your locality.

👉 Cash for Distressed Properties: Houses listed on the MLS receive offers as long as one can reside in them after purchase. Even distressed properties may get better cash offers when listed on the open market.

How Much do iBuyers Pay?

As high as 104.1% and as low as 70% of the property’s fair market value. However, iBuyers are ideal for you only if you have a pretty house that needs minimal or no repairs.

👉 iBuyers Offer Cash for Houzeo.com Homes: iBuyers like Opendoor and Offerpad have made full cash offers on the properties listed on Houzeo. Increase your chances of meeting an iBuyer with a free listing on Houzeo.com. Start NOW!

How Much are iBuyer Fees?

The hassle-free convenience of iBuyers comes at the expense of service fees. Typically, you can expect the final service fees to be around 10% to 18% of the home’s sale price.

iBuyer fees primarily depend on the property’s condition and location. If you have a decent house that needs minimal repairs in a desirable neighborhood, then the service fees will be around 5% to 7%.

✅ Pros of Selling Your House to an iBuyer

• Instant Cash Offer & Sale: iBuyers make an instant cash offer, usually in 24-48 hours. If you accept it, iBuyers move fast to close on the property. You skip the annoyance that comes with a traditional home sale.
• Fast Closing: There is no listing or wait for potential buyers. When selling to an iBuyer, you skip the hassle of a traditional home sale and get quick cash for your house.
• Certainty of Sale: iBuyers are home-buying companies with enough finances. So, the chances of your home sale falling through are less than selling your home with a realtor.
• No Upfront Costs: A home seller must spend on house repairs, home staging, etc., when listing on the open market. These costs get eliminated when you sell to an iBuyer.

❌ Cons of Selling Your House to an iBuyer

• Non-negotiable Cash Offers: When dealing with iBuyers, the cash deal is usually take-it-or-leave-it. Although there may be room for negotiations, you can’t expect more than 95% of the market value of your home. Because iBuyers have to sustain their business model with the re-selling profits, they usually provide final offers.
• Limited Coverage: iBuyers purchase homes in the markets they operate in. So, selling to an iBuyer is not a choice for most Americans. You won’t stand a chance if your property lies outside their coverage.
• Strict Eligibility Criteria: There are specific prerequisites a home must adhere to for an iBuyer to buy it. Most iBuyers only offer cash for houses built post-1930 or less than 1.5 acres. Because of the stringent purchase criteria, distressed homes don’t qualify for sale.

How Do Cash Home Buyers in Phoenix, Arizona Work?

“We buy houses for cash” companies are cash buyers that buy houses “as-is” and at a much lower rate than the market price. These real estate cash buyer companies mostly work offline, and their target audience is distressed home sellers.

Let’s take a look at how the home sale would be with a “We Buy Houses for Cash” company:

• Step 1 – Share details about your house: Most cash buyer companies will collect basic information via phone or online. Sellers have to share location and property condition.
• Step 2 – Review the preliminary cash offer: After an initial assessment of your property, the home-buying company will make a non-negotiable cash offer.
• Step 3 – Complete a home inspection: An onsite visit is scheduled if you accept the initial offer price. A third-party inspector or a local firm representative will complete the onsite inspection. Your final offer will be modified proportionately if any essential repairs are required.
• Step 4 – Accept the final cash offer: After adjusting repair costs and expenses, the cash home-buying company sends a final cash offer. You only need to accept, sign a purchase agreement, and schedule closing if it satiates your ideal requirements.
• Step 5 – Close on your schedule: “We Buy Houses for Cash” companies can pace up the process and provide more flexibility on timing. You don’t have to wait for a bank to subscribe to a mortgage. In some cases, you may be able to close just within ten days.

How Much Do “We Buy Houses for Cash” Companies Pay in Phoenix, AZ?

Companies that buy homes for cash often use the 70% rule.

So, they’ll pay no more than 70% of your home’s market value. Sometimes, home repairs are required, and some cash buyer companies deduct these overhead expenses from your sale proceeds.

Cash Offer = (Market Value of Your House x 70% Offered) – Repairs Costs

Let’s say your home is worth $300,000 at fair market value but needs $25,000 in repairs. Then, you might expect a cash offer of only $185,000 from the cash home buyer companies.

You can wait and list your home with a professional real estate agent if you have a capital of $25,000 to spend on repairs. There’s also the open market, where you might be able to locate a deal worth as much as or more than your home’s current market value.

Some cash home buyers are willing to pay less than 70% of the home’s value after renovations/repairs. However, we recommend requesting cash offers from multiple cash home buyer companies, with no obligation to close with them.

👉 IMPORTANT: Even if your property is eligible for iBuyers, it’s always a good idea to get an estimate from a local realtor to find out how much your home could sell for on the open market.

“We Buy Houses for Cash” Companies in Phoenix, AZ: Pros and Cons

✅ Pros

• Fast Cash Sale: In the traditional model, you have to list on the MLS and wait for potential buyers. With “We Buy Houses for Cash” companies, you get a cash offer within 24-48 hours of submitting details on their website.
• Flexible Closing: “We Buy Houses for Cash” companies to move faster than others because there is no longer a need to wait for mortgage approval or listing paperwork. Many companies provide a one-month closing guarantee or up to two weeks.
• No Service Fees: “We Buy Houses for Cash” companies acquire your home as-is and don’t charge any service fees. Their lowball offers are enough to recover profits by reselling your property after anticipated repairs.
• No Upfront Costs: Whether they choose a traditional real estate broker or a Flat Fee MLS company, a home seller incurs costs while listing the house and prepping for sale. Since “We Buy Houses for Cash” companies acquire your home as-is, you don’t have to spend a dime. So, required repairs, curb appeal, upgrading furniture, and staging are some elite expenses you avoid when you choose companies that buy homes for cash.

❌ Cons

• Non-negotiable Cash Offers: When dealing with “we buy houses for cash” companies, the deal is usually take-it-or-leave-it. Although there may be room for negotiation, you can’t expect more than 70% of the market value of your home. However, if you feel the company overlooked something important, some will allow you to make your case and submit additional evidence to support it, but most will be unwilling to budge on price.
• Lowball Offers: “We buy houses for cash” companies generally pay 50% to 70% of the home’s fair market value, deducting all repair, utility, and re-selling expenses. Because they want to sell this home on the open market, they will offer you marginal prices so that they get a profit when they resell.

“We Buy Houses for Cash” Scams in Phoenix, AZ

Cash home buyers are legitimate, but there are scammers in every industry, and that’s how cash for houses scams work. Some common “cash for houses” scams are:

• Fake “We Buy Houses for Cash” Ad: Scammers post signs and blast emails with a “we buy houses for cash” ad. Families in need of liquid cash or struggling to make their mortgage payments fall for this and end up signing property-related documents in a hurry to close the cash transaction. “Cash for houses” companies lease the property to a new tenant, and the owner is still responsible for making the mortgage payments while losing control of their house.
• Re-assignment Clause in Listing Agreement: In some states, cash home buying companies have made home sellers sign a listing agreement with a “reassign” clause. Essentially, this means the seller is permitting somebody else to take control. Home sellers who fall into this trap lose the right to sell their own house!

⚠️ Don’t get lured by such deceptive cash home buyers: Thoroughly investigate the company before signing any legal documents related to your house.

Selling to Local Real Estate Investors

Selling to local real estate investors directly is an option if you don’t want to work with a cash home buyer. Real estate investors are always searching for properties. These real estate cash buyers, also called retail cash house buyers, can be classified as:

• House Flippers: buy a property, renovate, and resell the property on the open market.
• Landowners or Landlords: buy a property, renovate and rent the property.

You can find such investors in online forums or through in-person meetups. Real estate investors often purchase the property as-is and drive a hard bargain to acquire homes for less than the fair market value. So, it’s best to do a comparative price analysis and find how much your property is worth before you deal with local real estate investors.

🏘️ How to Flip a House: Is flipping houses still profitable in 2023’s slow market?

What about Selling My House with a Real Estate Agent Instead?

It depends!

Listing on the MLS increases the chance of a competitive cash offer. However, opting for a real estate agent to get on the MLS would defeat the purpose of maximizing your cash offer.

Opting for a real estate agent in Phoenix will not save your 6% commission and might be the worst option if you want to earn maximum cash. With Flat Fee MLS companies like Houzeo.com, listing your house on the MLS can be done effortlessly at just $349! You save on the 3% listing agent commission by selling your home as an owner.

✍️  Note: Cash home buyers like Opendoor and Offerpad have offered cash deals for properties listed on Houzeo.com.

Should I Sell to a Reputable Cash Home Buyer in Phoenix, AZ?

Most home buyers purchase homes with a mortgage. But, selling for cash will almost always net you between 10% to 30% less than a financed offer.

We recommend you sell for cash only in select circumstances.

• If You are on a Severely Tight Timeline: If you’re going through a rough patch in your life, such as a divorce or an immediate move, cash home buyers or real estate investors can help you sell faster.
• In Case You Need to Sell an Inherited Property: Selling to a company that buys houses for cash can be a viable option if you have a deceased relative’s property far away or in terrible shape.
• You are in Urgent Need of Cash: If you’re in a hurry, facing foreclosure, and don’t want to keep your property, selling your house for cash could help you escape a credit impact.
• You Own a Distressed Property: Most banks will not finance a property in poor condition. If your property is in poor condition, selling your house for cash is a good choice.

Listing on the MLS would be ideal if you can hang in for a while. With high-tech FSBO sites like Houzeo.com, you can start your listing process on any device and finish all the paperwork seamlessly.

Alternatives to Companies That Buy Houses

1. Listing Your Home with Flat Fee MLS Service

Listing with a Flat Fee MLS Phoenix service gets your property on the market within just 24-48 hours. Thus, Flat Fee MLS is the best way to sell your house fast, having 4 significant benefits:

• MLS is the fastest way to hit the market, plus your listing is syndicated to Zillow, Realtor.com, etc.
• Your property listing gets maximum exposure.
• You can negotiate all offers.
• You skip paying commission or service fees.

👉 Sell Flat Fee MLS via Houzeo: We recommend Houzeo if you want to list and sell your house fast!

2. Hiring a Top Real Estate Broker

Top real estate brokers have the expertise to help you sell your property fast within a set timeline. So, most of the work is handled by the broker, which makes home selling hassle-free.

But the downsides are just as huge. Best realtors will charge between 5% to 7% commissions. That amounts to thousands of dollars in commission you will be paying. Additionally, with local realtors in Phoenix, you may get no technology tools, and their service quality can be unpredictable.

👉 We recommend selling with a real estate broker only if you are not tech savvy or concerned about FSBO paperwork. 

» Real Estate Brokers in Arizona: Check out Arizona’s top brokers, their services, and commission

3. Sell By Owner

Selling your home purely For Sale By Owner implies that you won’t get access to the MLS. So, you market your property, conduct market research, handle offers, manage showings, etc., all by yourself.

 77% of FSBO home sellers closed on their homes within two weeks because the homes were sold to someone the seller knew. The most significant disadvantage of selling with no MLS or tech support is that you probably may not be able to sell your home quickly.

👉 We recommend selling FSBO if you have a buyer lined up to buy your property.

Eager to Know How Houzeo Works?

We’ve got you covered. Check out the following video to understand how Houzeo works and why it is one of the best For Sale By Owner websites in the U.S.

» NEED MORE CLARITY? Read these exclusive Houzeo reviews and learn why it is one of the best FSBO sites in America.

Frequently Asked Questions

Resources for Selling Your Arizona Home

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