When the time comes to move, some tenacious homeowners in Arizona are eager to take over the reins of their home sale and figure out how to sell a house by owner. Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. While FSBO can work, it does come with some risks, including the possibility of selling your house for less than market value. In this guide on how to sell a house by owner in Arizona, we’ll cover what can be the most difficult aspects of selling by owner, including the steps that might be harder than you think. We’ll also provide a comprehensive overview of the full process to prep, market, and close on your home without the assistance of a real estate agent. FSBO is a method of selling your home without the involvement of a listing agent. In a FSBO scenario, the seller assumes the responsibilities that would normally fall to their agent such as pricing the home, arranging showings, and negotiating the deal. In an agent-assisted sale, the seller typically pays a commission amounting to around 6% of the sale price, which is then split 50/50 with the buyer’s agent. That 6% is deducted from the seller’s proceeds at closing. By selling FSBO, a seller can eliminate the cost of the listing agent commission (so around 3%), though they may still need to offer a buyer’s agent commission. Finally, a FSBO sale does not mean that a seller won’t need any professional assistance. Most people who sell by owner will need to hire an attorney to review and prepare key documents and make sure paperwork is filled out properly, such as the seller’s disclosures and purchase contract.Fast Facts for Selling a House in Arizona
Median sales price:
$410,000 (November 2023)
Average days on market:
53 (December 2023, Phoenix-Mesa-Scottsdale)
For Sale signs in the yard:
Generally allowed, but regulations vary by jurisdiction concerning size, placement, and other limitations.
Disclosures:
Arizona law requires sellers to disclose material facts about the property through the Residential Seller Disclosure.
Is a real estate attorney required?
Real estate attorneys are not considered essential for closing in the state of Arizona. However, hiring an attorney when selling by owner is almost always advisable to avoid an abundance of legal risk.
Real estate transfer taxes?
$2 flat fee on the entire transaction (so basically nothing!)
Quick FSBO overview
