It is a normal practice to enlist the help of a real estate agent when you wish to sell your house — and for good reason too. They do the majority of the work that is required for a home sale transaction for a percentage of the final cost of the house sale. But more people wishing to sell their homes are now inclined towards going down the “For Sale By Owner” or cash buyer route, which involves selling their houses without help from a real estate agent.
Selling a home without hiring a realtor has its pros and cons, and if you’re going to be selling your home by yourself, you should know ann the paperwork for selling a house without a realtor. One of the biggest upsides of listing your house for sale by the owner is that you can avoid paying the commission of the real estate agents. Since the fees for both the seller’s and buyer’s agent are usually paid for by the seller, you are most likely going to avoid paying half of the expected commission fees except your buyer is also without a real estate agent, which is the case when you sell your home to Tgaz Investments.
Listing your house by yourself would also mean that you have absolute control over the sale. You will be in charge of marketing the home, home showings, pricing of the home, and also the negotiations.
There are disadvantages to taking this path. It is difficult and many of the deals don’t end up working out because the seller didn’t have the adequate knowledge to make it a success. Buyer’s agents may also try to negotiate lower prices and you walk away from the deal with so much money left on the table. The inability of the owner to market the house properly, price their home competitively and negotiate favorable deals, may all end up in the failure of the deal. This is why we advise selling to a readily available cash buyer like Tgaz Investments, should you decide to sell on your own.
If you decide to take another route, however, you will need to work out ways you can adequately market your house. You can pay some money to have your house listed on your local Multiple Listing Service (MLS). You may choose to make use of social media and the ad services they provide. If you opt to do this, make sure to understand what truly makes your home special and advertise it to prospective buyers. Make sure the pictures you take look great too.
The next thing you would want to do is to prepare your home for showings. Clean it up, make repairs and make it attractive to potential buyers. Again, this hurdle can be eliminated if you sell to a reputable cash buyer.
You would also have to price your house competitively. Don’t price too high to the extent that you discourage buyers and don’t price too low so you do not end up walking away with money left on the table.
You should also be proactive and make sure that the buyer is already pre-qualified for a mortgage. This would ensure smooth sailing when it’s time to close the deal.
During the closing process, you may be required to provide some documentation so you also have to be a step ahead when it comes to paperwork. The paperwork you would be required to provide may vary across different states and also counties.
Paperwork For Selling a House Without a Realtor in Arizona and Louisiana
As stated already, the paperwork requirements may vary with states. The requirements for Louisiana and Arizona states are largely similar. If you’re planning to sell a house in the states of Arizona or Louisiana without a realtor, the following documents would be needed from you.
- A Copy of the purchase agreements and any addendums: This includes details of the house, the seller and the buyer, the financing terms, the closing costs, buyer contingencies, possession date and the grounds for terminating the sale and any changes to this document that may have been agreed upon.
- Two forms of identification: This may be any form of Arizona-issued means of identification like a driver’s license.
- Closing statement: This is a comprehensive document recording all the costs associated with the sale and which party is responsible for its payment.
- Signed Deed: This document proves that you’re the legal owner of the property being sold and you would have to sign this deed over to the buyer to ensure their new ownership.
- Bill of Sale: A receipt that includes both the seller and the buyer’s information and the price that was paid for the house.
- Affidavit of Title: A notarized document that states that you’re the owner of the home, that there are no liens that include the home, that you’re not selling the home to someone else, and so on.
- Loan Payoff Information: This document states how much you still owe on your mortgage if you took out one or if you’ve completely paid off the mortgage (You’ll need to provide an extra document proving this).
- Home Owners Association Forms and Guidelines: This gives the buyer documentation of the financial history, codes, restrictions, and required fees for the HOA.
- Home inspection results
- Proof of Repairs and Renovations: These documents help in ascertaining the value of the house and also help the buyer know who to contact if they discover issues with the repairs in the future.
- Home warranty information
- Copies of Relevant Wills, Trusts, and Power of Attorney Letters
If the house you are selling was inherited, you would need to provide copies of the documents that prove that ownership was passed down to you.
- Survey Results or Affidavits: This result shows exactly where the property lines are. This may be useful to the buyer if they want to install fences or other additions like a swimming pool.
- Relevant Affidavits: Supplementary affidavits like a name affidavit which lists all the seller’s and buyer’s previous names or an affidavit proving that you’re not a foreign citizen and therefore exempt from some property sale taxes.
- Closing Disclosures: If you agreed to certain concessions as the seller and the buyer is taking out a mortgage to finance the payment of the house, you may need a copy of their closing disclosures to know if the lender approved your concessions.
- Correction Statement and Agreement: This requires the seller, the buyer, or their lender to replace or correct documents if they are lost or errors are discovered.
Selling your home by yourself has the potential to give you a great amount of profit if you do it right. You have to stay organized and make sure you follow the necessary processes and provide the relevant paperwork. Make sure you research your state or county laws and if confused, consulting an attorney would be of great help in the process of selling your house.
Have a house for sale in Arizona or Louisiana?
Going through an estate agent on the open market to sell your house may be the first thing you think of. However, this may be slow and arduous, especially if you are pressed for time.
Using a quick and hassle-free property buyer like Tgaz Investments LLC, you can rest assured that your house will be taken off the market in no time with no additional fees and costs to you. Call Tammy today at (480)-848-7173.