Selling your home without a realtor is a big decision. While it’s not impossible to do so, it is difficult if you’re not familiar with the real estate industry. To sell your home without a realtor, you need to understand legal requirements for selling without a realtor in Glendale, AZ.
To better understand the for sale by owner legal requirements in Glendale, AZ, we’ve created this guide that details the requirements for a home sale. These requirements ensure that the sale of your home doesn’t become voidable later on and protects you from liability from the homebuyer.
It can seem overwhelming to think about all the things you need to do to sell a house on your own. But if you know what to expect ahead of time, you can succeed.
What to Know Before You Dive in
The first thing you should consider is whether or not you will hire a real estate attorney. While the law doesn’t require it, it’s always a good idea to have an attorney who can help. You house is probably worth hundreds of thousands of dollars after all.
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. 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 so you aren’t taken advantage of by an unscrupulous homebuyer.
There are also certain documents that are required to be included 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 Glendale
Selling a home without a realtor in Glendale, AZ does have its downside.
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 to dot all the I’s and cross all the T’s.
In the end, you can save time and make more money on your home sale by working with an expert realtor in Glendale, AZ. The experienced realtors at Your Home Sold Guaranteed Realty AZ can help you sell your home fast and for top dollar. To get started selling your home today, call us at 623-283-2067 or contact us here.