A Simple Guide to the Complex Home Selling Process in Arizona
The home selling process can be a challenge, even for those who have gone through it before. If you’re planning on selling your home, this guide will walk you through the steps necessary to maximize your sale price, reduce the amount of time your home spends on the market and prepare for closing proceedings. Read the summary of how to sell your home in Arizona.
Though there are many ways to facilitate the sale of a home, your best bet for selling your home quickly at or above the listing price is to work with a real estate agent. As professionals with home selling expertise accumulated over the course of years, real estate agents will facilitate selling process from start to finish by performing vital functions like marketing your home, helping to price it correctly, and negotiating with buyers and their agents.
Choose a Real Estate Agent
Ask around for referrals, and don’t automatically choose the first agent you come across. Instead, look for an agent who knows your market and can help you through the selling process. It is important you find an agent you connect with and is a good communicator. Also, ask what services they include. At a minimum, your agent should be offering all marketing and advertising costs included in a listing agreement. Professional photography is a must – no matter how hot your market is or how great your agent says their phone camera is. For some listings, a virtual or video tour or drone photography helps to highlight the property.
Some home sellers choose the “for sale by owner” (FSBO) route. While this is always an option, it’s advised against unless you have extensive experience with the home selling process. Where FSBO cuts costs by doing away with commission fees, you risk adding costs to list and market your home, the expertise an agent provides in the form of market valuations, negotiating, legal processes, and any appraisal or inspection discrepancies you encounter – not to mention helping to navigate the mountains of paperwork inextricably involved with real estate transactions. If you go the FSBO route, be aware of the risks involved. While trying to save on paying commission fees to an agent, homeowners who go the FSBO route put themselves at risk both financially and legally.
Sign a Listing Agreement
This will cover the agent’s commission and gives them an exclusive right to sell your home. This agreement will also cover proper steps should a dispute arise, protecting all parties involved. It details the listing period or the set amount of time an agent has to sell your home (this could be 90 days, six months, etc.), the listing price, and the duties they are authorized to conduct on your behalf. Make sure the listing agreement includes any specifics you want from the agent, like the specific ways the agent will market your home.
View Your Phoenix House Value Instantly Now
Prepare Your Home for Sale
Do a deep clean of the home
Check floors beneath any rugs and walls behind hangings so you can clean or repair before putting your home on the market.
Staging
Talk to your agent about professional staging services or consultations. Staged homes sell quicker and for more money.
Make necessary repairs and replacements
Health and safety issues are the top priority as these can affect the ability for a buyer to get financing on a home. Focus on the items most likely to come up during a home inspection- like roof, paint, heating/cooling/plumbing and electrical.
Your agent can help you analyze repair vs. the cost to replace items to determine which is the best route to go, how they will affect the price of the home, and if you’ll get the costs back in the sale.
Curb appeal
Improve the curb appeal of your home’s exterior by making necessary repairs or replacements, and with a fresh coat of paint where applicable.
Price Your Home
Your agent is an expert in your market and will be exceptionally helpful with this process. Use the comparative market analysis (CMA) the agent provides. The CMA will take into account things which can have a large impact on the sale price, from your home’s square footage, number of bedrooms and bathrooms, sale prices of comparable homes in your neighborhood, value provided by amenities like walk-in closets and high-end appliances, as well as available inventory.
Online home valuation are notoriously inaccurate, so it’s unwise to view them as good assessments of home values. Between your agent’s pricing recommendation and any online price tool, the former will always be able to provide you with a better idea of how much your home is actually worth.
Your agent will also help you determine the best pricing strategy for the current market and season. Even in a hot seller’s market, not every home will get top dollar if not priced correctly. Your agent will help you analyze where the home prices are trending (up or down) not only based on the last 6 months, but look at the active and pending listings to determine your strategy. Are homes taking longer to sell? Or are they selling faster than the previous month? This is why hiring an expert is so important to ensure you get the right price and right exposure the first time.
Keep Your Home in Good Condition
You never know when a potential buyer may want to see your house, so it’s important to keep it in good condition for the entire time it’s on the market.
Consider Deal Sweeteners
Deal sweeteners are ways you can attract buyers, if your market is competitive for sellers. They commonly include paying buyers closing costs and buying down the buyer’s mortgage rate. Your agent will be able to provide input on whether providing deal sweeteners are necessary, and which ones you should offer. Also, you can offer a home warranty that provides coverage on common repairs needs.
Prepare for Closing
Get ready to close on the sale of your home by doing the following:
Prepare disclosures
You must disclose every flaw and shortcoming of your home that could adversely affect the new owner’s enjoyment of it. Legal action can result if the buyer is not made aware of any problems, whether by design or by unintentional omission on the part of the seller.
Gather and prepare necessary paperwork
This includes documents like the certificate of title.
Keep your home in good condition
The deal can be jeopardized if you do not clean and maintain your home before closing.
Your agent will open escrow and order a title insurance policy for you. Escrow is a third-party holder of the transaction. Think of escrow as the referee; a neutral party whose job is to ensure that both buyer and sell maintain their ends of the bargain outlined in the purchase agreement.
Prepare for Pre-Closing Walkthrough
The purpose of the pre-closing walkthrough is to ensure that your home is in the agreed-upon condition before the sale is finalized. It takes place anywhere from a few hours to a few days before closing. In Arizona, if any repairs were negotiated, they have to be completed at least 3 days prior to closing but can be negotiated for longer.
Sign Closing and Escrow Documents
This process varies widely from state to state and your agent can prepare you for what to expect. Once you sign closing documents, prepare for the final transfer of both money and property.
Selling your home in Phoenix AZ
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Phoenix House Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.
New Listing in Last 24 hour Phoenix AZ
Search and view homes for sale in your neighborhood
Receive email alert as soon as a Phoenix property matching your criteria hits the market. Be one of the first to see new listings. Simply type in everything you want in a house and save your search here to be notified.
