If you’re ready to move on from your home and you’re thinking of selling without a realtor in Arizona, this guide is for you. It’s a big decision, but not an impossible feat. Selling your home solo requires you to understand for sale by owner legal requirements in Arizona which can vary depending on the state in which the property is located.
Here we break down the for sale by owner legal requirements in Arizona in a simple format so you can be confident that you have all the information you need to sell your home without a realtor.
What to Know Before You Dive in
First, you may not know that you don’t necessarily need a real estate attorney. Although it is a good idea to have an experienced real estate attorney by your side as you make one of the biggest decisions of your life, state law does not require you to hire one.
State law allows you to put a “For Sale By Owner” sign on your property, letting people know it is for sale by the owner, and not a realtor. But be ready for lots of phone calls and unexpected visits from potential home scammers, home investors and house flippers. Some of these offers, if accepted, can cost you tens of thousands of dollars. Always make sure that you know the true market value of your home. This way, you won’t get on the wrong side of a savvy negotiator that may try to take advantage of you.
You’ll also need also certain documents and agreements when you sell your home without a realtor. These are:
- Written agreement that complies with Arizona’s Statute of Frauds
- Seller’s property disclosure statement
- Flood zone statement
- Lead paint disclosure
- Other disclosures unique to your property
- Affidavit stating you complied with the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA)
You will also have to comply with the Fair Housing Act by not engaging in discriminatory practices when selling your home.
Find Out More about Selling Without a Realtor in Arizona
Selling a home without a realtor in Arizona does have its downsides. But it’s not impossible if you know what you’re doing.
Did you know that homes sold by owners sell for 6% less than those sold by a realtor?
You can also open yourself up to liability to the homebuyer if you omit certain details or make errors during the sale. An experienced realtor will know the for sale by owner legal requirements and be able to protect you from liability. It can be helpful to talk to someone who will help you make sure all the “i”s are dotted and all the “t”’s are crossed.
In the end, you can save time and make more money on your home sale by working with an expert realtor in Arizona. But even if you’re set on selling without a realtor in Arizona, give us a call and we can provide tips and trick to help. The experienced realtors at Your Home Sold Guaranteed Realty AZ can help you sell your home fast and for top dollar or simply answer your questions. To get started selling your home today, call us at 623-283-2067 or contact us here.