Question: I may have to sell my home in Scottsdale because
of a possible job relocation. Inasmuch as I have only lived in
my home for less than a year, my home has had little appreciation
in value. In fact, after I pay brokerage commissions I will probably
lose money on the sale of my home. Therefore, I am considering
selling my home as a FSBO ("For Sale by Owner"). If I find a buyer,
should I have an attorney do the paperwork? If I do not use an
attorney, does the Arizona Association of REALTORS® have the standard
forms? If so, how much do these standard forms cost?
Answer: First, although FSBO’s generally sell better in
a rapidly appreciating market like today, I would still recommend
that you interview at least three real estate agents regarding
the marketing of your home before you consider a FSBO. Whether
selling a home, appearing in court, or cutting hair, the cost
of an experienced professional is generally justified. Second,
if you still decide to do a FSBO, after you locate the buyer you
should contact an attorney to draft the paperwork and otherwise
represent you through the closing. The attorneys’ fees can range
from $1,000 to $3,000 or more. Finally, if you truly want to "go
it alone," the Arizona Association of REALTORS® and many local
Associations of REALTORS® have the standard forms available at
a minimal cost.
