Arizona’s real estate market is hot selling. The price for properties in Phoenix city was $449,900 as per the data in February 2022. This was a 28% spike compared to the last year. With such whopping sales data, the sellers can consider FSBO and know how to sell a house by owner in Arizona here.
Here is the guide for you about selling a house in Arizona. We will know the steps of selling by the owner such as the steps involved, an overview of the processes, closing the home sale using iBuyer services and MLS flat fee MLS AZ, and more without needing a real estate agent.
Houses in Arizona
While the average sales price is $449,900 as of February 2022, the average number of days on market has been 36 as of April 2022. You need to know the regulations for your state about yardstick size, placement, and other legal requirements. Real estate attorneys may also be considered for closing a deal in the state of Arizona. But by hiring an attorney, you can avoid legal risk.
How to sell a house by owner in Arizona?
Here are the things to do to easily and successfully for selling a house in Arizona.
Repairs and maintenance
FSBO sellers in Arizona must get the home inspection done and address all the issues in the pre-listing inspection. Based on the inspector’s findings about the home, get the repairs and maintenance done for your home.
- Repair faulty wiring and old electrical systems
- Repair non-performing HVAC systems as the climate in Arizona is hot and dry.
- Fix the plumbing leaks especially if your home is old. Leaks are caused due to rust and corrosion.
- Fix the damaged or not properly installed fixtures in the toilets, sinks, and bathtubs.
- Change the grading and drainage along with other foundation problems.
- Termite damage is also common in the state. Take care of the termite infestation and get, exterminated.
Fill out the disclosure form
When selling a house in Arizona, ensure to disclose essential facts about the property. The sellers can fill out the Seller’s Property Disclosure Statement or SPDS and also provide other relevant documents to the buyer such as home invoices, leases, etc.
Declutter and clean the home
As per the studies, deep cleaning can pay a better price for your home. FSBO sellers can also consider inviting their friends and family to know how the house looks. Take care to improve the outdoor of the home too. According to the data shared by the HomeLight 2022 Top Agents Insight Report, the buyers pay 7% more which has a great curb appeal compared to the homes having low-class exteriors.
Price your home well
Set the right price for your home. Compare your home’s features with nearby comps and get the right indication of an appropriate price to set for your home.
FSBO sellers must understand what are the benefits of professional photos. You must include high-resolution pictures in your listing. You can either hire a professional photographer or do it yourself using an advanced camera.
Selling a home for cash
If you do not want to stage your home and do open houses, then consider iBuyers. They make instant proposals and buy homes at the same price as FMV. iBuyers are the companies that buy houses for cash.
Cash buying companies are often preferred by homeowners especially those who need urgent cash to buy a new property or who want to let go of their distressed home. Cash home buying companies can help the sellers to sell a house fast. When we talk about cash buyers, it is vital to know that there are two main types of cash buying companies.
One is the We Buy Houses for Cash company that buys homes at a discounted price and offers a low sale price of the home compared to the market value. They buy properties that are in the worst condition. iBuyers companies make better offerings and provide a home buying price point that is closer to what your home is worth on the open market. However, they only operate in select areas and secondly, they have very strict buying criteria.
Companies that buy houses for cash must be considered when you want to sell a property quickly. Whether you head to a We Buy Houses company or an iBuyer, you can decide as per the condition of your house and your area.
While We Buy Houses for Cash companies are best for those sellers who have a poor status of the property or facing foreclosure or the inheritance of a property. iBuyers is a better option for homeowners who want a fast sale of a property that is in great condition. Compared to We Buy Houses companies, iBuyers offer better money for homes. But the unfortunate thing is that many home sellers are unable to qualify for an iBuyer offer. The iBuyers have an eligibility rule and operate in a few markets only.
To know which ibuyer pays the most, here are the top iBuyer companies that buy houses for cash:
- Offerpad is an iBuyer that offers a good price for the home and allows you to keep more of your home’s equity. Offerpad makes better cash and also offers more flexibility as their closing dates range from eight to 90 days. The company charges a 5% service fee. They work in 25 U.S. markets.
- Opendoor is also one of the best companies that buy houses for cash. However, they pay a lesser amount than other iBuyers like Offerpad. Opendoor does not offer better flexibility too as it is only 14 to 60 days. They operate at more locations across the U.S.
- RedfinNow is also a big company that buys houses in more than 31 cities in the US. They buy vacant houses too and charge a service fee between 5 to 13%.
Flat Fee MLS Listing
Now, another option for homeowners who want to sell a house is to contact a real estate agent website for a flat fee MLS AZ. They also specialize in quick sales by listing your property on the MLS. You get a higher sale price than in the open market and also get to work with an experienced realtor such as Houzeo too.
You are not only allowed to take control of the home sale transaction but also get the most money for your home by avoiding the realtor fees. Also, if you need to sell your home quickly, then the realtor can also help you with extra services as a part of the flat fee MLS AZ package.