When you want to sell your home, you probably have a reason. You either took a new job or retired.
Perhaps your spouse landed a new job, or the company transferred workers to a new location.
You need an instant sale, but the real estate agency websites you visited all project it taking up to three months for sale.
That’s if you sell through a realtor. At ITSSOLDAZ, we buy houses in Phoenix and the rest of the state.
In fact, we buy them instantly, as-is. Let’s look at how you can sell your Arizona home because we want to explain all available methods reasonably.
Can I sell my home without a Realtor in Arizona?
Yes, selling without a realtor keeps you within the law in Arizona. Some states do require some legal representation on both the part of the buyer and seller, but not here.
In Arizona, you have two options to sell a home without a realtor. You can opt to use the “For Sale By Owner” method or sell directly to an investment firm called an iBuyer or i-buyer. The “i” stands for both Internet and investment. Let’s consider each of your options in detail.
Using the For Sale by Owner (FSBO) Method
When you choose the for sale by owner (FSBO) method, you price your home and handle the sale transactions. You’ll need to show the home, negotiate the sale, and complete all sales-related paperwork. The latter refers to the legal contracts, home inspection, and closing of the sale.
Your buyer may use a real estate agent, which could put you at a disadvantage since they know the laws concerning real estate inside and out.
About eight percent of homeowners in the US sell their own homes, according to the National Association of Realtors. They do save the list agent’s commission and get to decide how to market the house, but their homes sold for 24 percent less than agent-represented homes. On the average home sale, that equals about $60,000.
Most people who use the FSBO method don’t have real estate experience. Without knowledge of comp homes and how a realtor sets an asking price, they may price their home too high or too low. An over-priced home takes months, sometimes up to a year, to sell.
You need to market the home for sale. This means requesting to list it on a site like Zillow that gets in front of many buyers using professional photographs of it properly staged. You’ll need to develop a COVID-19 safety protocol and offer virtual tours or open houses. Finally, you’ll pay the buyer agent’s commission.
Using the iBuyer
The first Internet investment buyers (iBuyers) popped up around 2015. This type of investment buyer directly purchases properties from homeowners. It circumnavigates the direct-to-consumer sale of the home.
Real estate investment companies offer a convenient and speedy way to sell a home. If you need to sell quickly and at a fair price, an iBuyer lets you do that.
These investment companies use a simple method of sales. The homeowner submits their property’s location and features via an online form.
The iBuyer examines the information and virtually inspects the home using databases and street view information.
The ideal home for an iBuyer comes in good condition in a good neighborhood. They use a mathematical algorithm to determine which houses to prioritize buying.
These companies want homes they can easily flip. An iBuyer purchases homes in disrepair and won’t ask for accommodations or repairs.
They do that themselves once the home purchase goes through. Because they handle the items that you, the homeowner, would need to repair in a normal sale, you typically get about 11 percent less than a realtor sale using this method.
If you’re not in Arizona, shop for your iBuyer because some charge up to 15 percent of the home sale in fees and tacked-on costs.
ITSSOLDAZ doesn’t charge you these high fees if you’re in Arizona.
You need to sell your house and get the best price. That means choosing the method that nets you the best proceeds in 2023.
Will house prices fall in 2023?
In the past few years, median existing-home sales prices have risen. Year over year (YOY), from December 2021 to December 2022, prices went up by 2.3 percent, according to Forbes. At the end of 2022, the median existing-home price hit $366,900, according to the National Association of Realtors (NAR). For 130 months, prices went up, but that trend began slowing down in June 2022. By the end of the year, from November to December 2022, total existing-home sales decreased by 1.5 percent, the eleventh month of decreasing sales.
In 2023, economists project that approximately half of US housing markets will offer discounted prices compared to the previous year’s sales. Low housing inventory continues to challenge those in need of homes. They aren’t coming from new construction, which plummeted in 2008.
Can you complete a house sale in two weeks?
Yes, you can sell your home in two weeks or less if you have a buyer using a cash sale. You can also sell it in two weeks or less using an iBuyer.
Most homes sell using a mortgage process, but 23 percent of buyers use cash. By using cash, you can whittle the closing process down to seven days once you execute the contract.
Using a conventional mortgage to finance a purchase takes 30 to 45 days after the contract execution. Using Veterans Administration loans or other special loans takes longer due to stricter requirements, but only about a week.
Sell Your Home This Week
You can sell your home at a fair price this week using ITSSOLDAZ.
We don’t gouge you with high fees like some iBuyers, and we won’t hem and haw like negotiating through a Realtor.
You can sell your home quickly and move on with your life using ITSSOLDAZ. Contact us today.