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Even if you’re excited to move on to your next adventure, selling a home is rarely a fun process. A lot goes into selling your home, no matter which method of sale you choose. Sometimes, circumstances become stressful and your time-frame to sell your home becomes limited. Whatever the case, there’s a method that will work for you. Just make sure you’re familiar with Arizona law regarding the sale of your home.

Why Are You Thinking of Selling?

While some people may want to sell their home for the change of scenery, your situation may be different. If you're in one of the situations below, it’s important to understand what your options are when needing to sell

ARIZONA'S CURRENT HOUSING MARKET

The housing market in Arizona has drastically declined since mid 2011, and is now similar to where it was in 2007. This may be a jarring statistic to take in, but the market is actually getting better. It’s currently in a healthy state, and the risk for further collapse is very low.

In many areas, homes have seen a value increase. It may not be as fast and as bustling as it once was, but it’s no longer dangerous or unpredictable. While this is a comfort to many homeowners, it’s important to remember that a healthy market is not necessarily a fast market.

Averages show that properties that would be considered highly in demand, such as modernized homes in good neighborhoods with no need for repairs, sell in about 70 days. On the further end of the spectrum, some homeowners can expect their homes to sit on the market for 180 days before the closing process can begin.

Sedona Arizona

Sedona Arizona

CHOOSING THE RIGHT SALES METHOD FOR YOUR HOME

SELLING THROUGH A REALTOR

If you’re considering selling through a real estate agent, you’ll want to understand the facts and figures that will affect that sale. The average real estate commission is 5.4% in the state of Arizona, with the median home value at $208,400. While homes in major metropolitan areas are generally more expensive than homes in outer areas of a state, this is not true for Arizona.

The median value of a home in the Phoenix metro is actually lower – sitting at $194,200. Homes may be listed for more, but this is the average offer that sellers typically wind up accepting. This means the average commission for a real estate agent translates to somewhere between $10,500 and $11,250.

Depending on what area of Arizona your home is located in, you can expect to wait for an average time as long as 180 days for your property to sell if you list it with a real estate agent. Since the market is still recovering, you may find that it takes much longer. The longer it takes, the more price drops a real estate agent will want to enact. This will go on until your listing expires or you finally find a buyer. It’s a little unpredictable.

Sell Through a Realtor
For Sale by Owner

FOR SALE BY OWNER

You can also sell your home by owner. At the end of the sale, you won’t be short the commission you would have to pay a realtor – but you will have to spend money out of pocket. Staging your home (which means fixing it up to make it appealing to potential buyers), listing your home, and showing your home will all rely solely on you. This can get to be expensive, but it probably won’t be nearly as expensive as commission.

You’ll also have to do all of your documents yourself. This means your sale contract and disclosures. You may want to hire a lawyer to help you with the legal documents associated with the sale of your home. This is another expensive you’ll pay out of pocket, but it’s worth making sure all of your bases are covered. Faulty contracts or misleading disclosures can result in a buyer filing a civil suit against you, which is far more costly than making sure you have it done right the first time.

If you’re attempting to sell your home by owner and it hasn’t sold within 45 days, you probably need to drop the price and re-advertise the home. This is more money out of your pocket for advertisement and a lower sale price all rolled into one package. Too many price drops can quickly put you on a sinking ship.

SELLING TO AN INVESTOR

When time is of the essence it's always good to be aware of alternative options for the sale of your home. While not a traditional method, the absolute fastest way to sell your home is to sell it directly to a Real Estate Investor.

Approach  reputable investors about your home & ask them about their process and what they can offer you for your home. Since most investors will aren't concerned about the homes condition, they'll be willing to provide an all cash offer for your home in "as-is" condition. Since not all investors work the same, make sure to get offers from multiple investors and speak with them first before you consider which one offers you the most value for your home and situation.

Please be aware that offers will often come in at less than full market value. The benefit for you is that you won’t have to spend anything to sell the home. There are no commissions, no advertising costs, no repairs, no renovations, no closing costs - nothing. When working with an investment company what you're doing is skipping from the beginning of the sales process directly to the end so you're able to unload the property as quick and painlessly as possible.

Real Estate Investor Offer

FINDING HONEST INVESTORS

New Investment companies are popping up all the time. These companies aren't always run by experienced professionals. Experienced investors will understand your benefit is more important than the potential profit to be made from your property.

Honest investors will tell you whether or not they're your best option or if there's a better alternative. Inexperienced investors can take advantage of desperate homeowners to line their pockets, with little regard to the impact they’re having.

These types of investors will often make promises that seem too good to be true. And have a "do anything to get the deal" mentality. If you feel your investor is speaking a foreign language when discussing your contract - something's off. Experienced investors can answer your questions in plain English. They’ll explain their offers, how they arrive at their numbers and tell you what they intend to do with your home.

If you’re turning to an investor for a short sale, that investor should act as an advocate for you when it comes to your lender and the court. They’ll want to help you avoid foreclosure at all costs.

Always thoroughly research an investment company before working with them. Read testimonials from other sellers who've worked with this company. If things aren’t adding up or you’re sure an investor is trying to pull a fast one, you can always contact the Arizona Attorney General with a complaint or turn to a more professional company.

ARIZONA INVESTORS SPECIALIZE IN HELPING HOME OWNERS IN DIFFICULT SITUATIONS

Stop Arizona Foreclosure | HBUSA

FORECLOSURE

Arizona allows both judicial and nonjudicial foreclosures. Because most mortgage contracts contain stipulations about what will happen in the event that you’re delinquent, the majority of lenders won’t need to take you to court in order to foreclose. Your lender can foreclose in as little as 90 days after they’ve sent you the notice. Read more

 

Landlording in Arizona | HBUSA

BURNED OUT LANDLORD

You can sell your property, but you can’t sell your tenants. You’ll need to get them out before you can sell the property. Great tenants will be understanding. Let them know as soon as possible that you won’t be renewing the lease simply because you’re no longer interested in being a landlord.  Read more

 

Probate in Arizona | HBUSA

PROBATE

Arizona has some unique shortcuts in their probate laws that allow simplified probate for certain properties. Disregarding the entire value of the estate, you can file an affidavit with the court to claim any property valued at less than $100,000. If the home you’re inheriting is in a state of disrepair, you may be able to skip formal probate. Read more

Home repairs in Arizona | HBUSA

NEED REPAIRS / UPGRADES

How you handle a property that needs repairs depends on how much money you have to invest. Never run yourself into debt attempting to a repair a home, particularly because a lot of repairs and renovations don’t offer substantial return on investment. Some projects (such as kitchen remodels), might not offer any return on investment at all. Read more

 

ABOUT HOME BUYERS USA

Home Buyers USA is made up of competent professionals with years of experience in home investment. We’ve worked with enough homeowners to know that contacting an investor is usually a response to a dire set of circumstances, and you may feel overwhelmed.

We’d be glad to walk you through the process and help you sell your home in any condition, under any scenario.

All you need to do is contact us the moment you’re ready to sell. Provide us with some information about you and your home, and we’re prepared to draw up a quick cash offer on your home.

Time is of the essence. Damaged properties will only become more damaged if left unmanaged. If you’re looking for a short sale, you only have a few weeks to avoid foreclosure. Let us be your ally.

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