The Trusted Home Buyer Logo602-456-4440

I Can’t Sell My House In Phoenix AZ… Help!

a person smiling for the camera

Martin Boonzaayer

December 4, 2019

If you’ve found yourself saying, “I can’t sell my house in Phoenix AZ,” this article is for you. Maybe you’ve been trying to sell your Phoenix house for a while now and haven’t received any offers, don’t panic! You still have a few options at your disposal to help you sell your house for a fair price.

You’ve probably already tried the first one at least once: Lowering the asking price.

Everybody wants to sell their house for more than they paid for it but if housing prices in your area are low, the economy’s not doing well, or your home has some sort of structural or locational problem, you may have to reduce your asking price.

What are my options if I can’t sell my house in Phoenix?

Here are five other things you can try when you can’t sell your house in Phoenix:

1) Take It Off the Market

You may be trying to sell your home at a bad time, such was when there are a lot of other houses just like yours on the market, during the winter months, or during the holidays.

If this is the case, you might be best served by taking your home off the market for a few months – if you can afford to keep paying the mortgage – and wait until market conditions improve.

2) Take Out a Second Mortgage

If you have built a lot of equity in your home, you may want to take out a home equity loan — if you can afford to pay the higher monthly payment, that is. If not, you may be able to renegotiate a loan modification plan with your lender or convert your adjustable rate mortgage into a fixed-rate mortgage that has a lower interest rate. The loan can be used to fund other things, including real estate investments.

3) Rent Out Your Home

If you can’t sell your home and don’t want to hold two mortgages (your old home and your new home) one option may be to rent out your home at or near the price of your monthly mortgage payment. That allows you to apply the rent to your mortgage without having to incur any additional expense – other than upkeep, maintenance and repairs.

4) Consider a Short Sale

“I can’t sell my house in Phoenix because I owe too much!” This can happen if you purchased your home within the past few years and currently owe more than the home is worth (called being upside down).

In some instances, you can negotiate with your lender to accept less than what you owe on your mortgage. If it looks like the other option is foreclosure, your lender probably will accept a short sale.

To do this, you’ll need to have a buyer on board who can close quickly. Fortunately, we can! Give us a call today at 866-488-9923 for a no-hassle offer on your house.

Keep in mind, however, that short sales can affect your credit. Redeeming a pre-foreclosure on your credit history might disqualify you from getting another mortgage, at least for a little while.

5) Offer a “Lease to Own” Option

A lease to own option is when you rent your house to somebody with the option to purchase your home at or before the lease expires. This is a good option if you can’t find qualified buyers because you can collect rent plus a lease option fee from a tenant while giving them time to save up for a down payment and establish their credit so they can get a mortgage to buy your home down the line.

You also can add a lease premium to their monthly rent that can either be applied to the down payment later or – if they don’t end up exercising their option to buy your home – you can keep it as income.

I Can’t Sell My House in Phoenix AZ!

If you are interested in learning more your options for selling your home in Phoenix AZ, call us at 866-488-9923 or fill out the form on this page to get more information sent to you right away.

Explore more

September 12, 2022
US Mortgage Lenders are Going Bankrupt

Inventory of resale homes is low, and the rising interest rates are making it harder for buyers to leap into home ownership, potentially causing a surge of failures comparable to 2008. We are now seeing a rise in mortgage lenders' bankruptcies, which is troubling news for an already uncertain market.  NQM and Bankruptcies  Now there […]

Read More
September 7, 2022
Community Focus: Annual Hotshots Charity and Memorial Event

Last weekend our CEO participated in the annual "Hotshots 19" charity and memorial event to honor the 19 members of the Granite Mountain Hotshots firefighting team who lost their lives in the Yarnell Arizona fires.  As part of the local CrossFit community, Martin and his family supported this event through donations and participating in their […]

Read More
August 11, 2022
What Opendoor's $62 Million Dollar Mistake Could Mean for Homeowners

It has been a little over a week since the FTC (Federal Trade Commission) finished its investigation into the "iBuyer" company, Opendoor. The FTC alleges that Opendoor Labs, Inc. used misleading information when pitching its service to homeowners. That alleged deception has now cost the company a cool $62 million. In the aftermath of the […]

Read More
August 5, 2022
Hoarding vs Clutter

If you or a family member have a cluttered house, you might find yourself questioning whether or not it is hoarding vs. clutter. Is there a difference between the two? And how can you fix the situation? First things first, understanding if you are, in fact, dealing with hoarding will help you develop an action […]

Read More
The Trusted Home Buyer Logo
Copyright © The Trusted Home Buyer
WE BUY HOUSES IN:

4.7 63 reviews