We are trying to do a fsbo. Any idea what the sellers cost would be in Arizona 85086? Thanks,Allan

Asked by Altinaz, 85086 Sun Feb 28, 2010

We are trying to sort thrrough all the costs and fees we would be responsible for, so we can determine the listing price.

Help the community by answering this question:

+ web reference
Web reference:

Answers

11
April Taylor, Agent, Phoenix, AZ
Sat Dec 20, 2014
According the National Association of Realtors FSBO sales price was $174,900, while the average price for a home represented by an agent was $215,000, a difference of $40,100.----This is national average. 85086 zip code demands higher prices then national average :) but this probably means larger difference between FSBO and Realtor listings.
0 votes
Rebecca Stue…, Agent, Scottsdale, AZ
Fri Oct 3, 2014
Hello,

It sounds to me like you are trying to go at the process backwards. A better starting point would be to determine the value of your home. For Sale By Owners can be successful, but you can put yourself in a better position by having the home appraised by a professional first. Then you can market your home using accurate and realistic numbers. The appraiser can tell you the typical days on the market for your area, what your competition is, and what the best pricing strategy would be. There are many homes in the area that are custom construction homes and many small acreage homes in the area. If your property is a small acreage home you definitely want to have it appraised because the land value is the most important thing about your home.

I am a Certified Residential Appraiser and also a Realtor. I specialize in Small Acreage and Horse Property in Maricopa County and I live in the area. Spending $300 or $350 now to have the home appraised can give you the tools and confidence you need to tackle the For Sale By Owner process. Your buyers will also appreciate the peace of mind from having an appraisal done as there will be no guess work when it comes to getting a loan for the home, and you will have the peace of mind that you did not leave any money on the table.

Feel free to contact me if I can be of service. 480-323-6045. Happy Selling!!

Rebecca Stuelpnagel
Realtor, RE/MAX Generations
Certified Residential Appraiser
0 votes
Alicia Morri…, Agent, Scottsdale, AZ
Mon Sep 1, 2014
Allan
I live and work in the same zip code as your property. My husband and I work as a real estate team in addition to being husband and wife! We'd be happy to meet with you to discuss your question and run some numbers for you. Just drop me an email or give me a call. Alicia
0 votes
Keith Sorem, Agent, Glendale, CA
Sun Feb 28, 2010
Al
Great question.
A couple of points:
Look at the link below - the average price per square foot dropped 7.5% in a year, so if it takes three months to sell, that is a 1.9% loss in value. The average listing price is $296K, so that would be $5,624.

Know that in most markets the BEST Realtors (in the top 20%) sell a home in 30 days, when with escrow requiring 55-65 days, that is already three months. Selling in a buyer's market, with many foreclosures and lots of inventory, chances are it will take you longer that three months to sell. At six months, 7.5% divided by 2 (half a year) times $296,000 would be $11,100 which is 3.75% of $296K.

The point is that if it takes you more than six months close escrow, the ONLY way you will make the most money is to list with a Realtor...unless you don't really need to move. I suggest having a few top Realtors analyze your situation, compare their proposals, then determine what is best for you.

Good luck.!
0 votes
Stephen Good…, Agent, Anthem, AZ
Sun Feb 28, 2010
Altinaz,

The seller's cost to complete a FSBO will be approximately the same as if you use a Realtor, but without the commission expense. However, an experienced Realtor will possibly get you a higher net bottom line than you may get on your own.

To give you a good estimate of what your closing costs will be, we need to know the approximate selling price for the home.

So...the question you might ask is what is the expected NET to you as a FSBO vs. the expected NET to you using a Realtor.

We are in zipcode 85086 and would be glad to speak with you personally about this.

Stephen Goodman
Windsong Realty
480 276 0700
0 votes
Doug McVinua, Agent, Gilbert, AZ
Sun Feb 28, 2010
Altinaz, if would would like to share some details of your home I have a couple of buyers for that Zip Code.

Send me the information direct and I will see if your home happens to be a fit for what they want.

Doug McVinua
Choice One Properties

602-751-7577

Doug@McVinua.com
Web Reference:  http://www.McVinua.com
0 votes
Roswell Moore…, Mortgage Broker Or Lender, Scottsdale, AZ
Sun Feb 28, 2010
Contact a local title company who works with FSBO sellers & they will prepare the numbers & documents you will need to help you complete your transaction.

May recommend Todd Finnin at Old Republic Title. You can reach him directly at 602-295-1103.

You may also want to look at http://www.HomesByLender.com/phoenixne for more free advertising exposure for your property - it is nationally marketed on Google and Yahoo.

Good luck on selling your home,
Ros

All the best,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct
http://www.ezAZloan.com
0 votes
Lisa Miller, Agent, Peoria, AZ
Sun Feb 28, 2010
Hi Altinaz,

I absolutely agree with Jeff - I usually tell my Sellers to figure about 3% (to be safe) for their part of the closing costs. There are a lot of things to be negotiated when selling your home; who pays for the buyer's closing costs (including escrow fees, lender fees, HOA transfer fees,and more) home warranty, repairs, etc. If you end up with a Buyer that has a Realtor, they will most likely ask you to sign a waiver that you are unrepresented and will have no recourse against them if you end up not being a well informed Seller with no representation.

Realtors go to school and have a lot of continuing education so that we can make this a lot easier for you. Usually, by the time you have done all of the work with what Jeff mentioned with advertising, time, and researching legalities of selling your own home, you will probably save money by hiring a Realtor to represent you.

I do wish you luck in whatever you do !!! And if you change your mind about using a Realtor, you are welcome to give me a call.


-- Lisa Miller
623-326-9261
0 votes
Lucinda Tkach, , Phoenix, AZ
Sun Feb 28, 2010
Allan,

You may have to pay up to 3%!

In this market most buyers are asking for 3% closing costs too and most of them are getting them!

It is a tough market out there! You may discover that having representation may be better in the long run! If your home is priced right and marketed well it could sell in a good time frame!

I work up in your area with many buyers!

Feel free to contact me if you would like any assistance or a market analysis!

Lucinda Tkach
lucindat@longrealty.com
602-799-6846
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sun Feb 28, 2010
If you don't plan on using an agent, do consult with an attorney specializing in real estate, especially with respect to all paperwork involved--he/she can give you a run down as to costs-- do consider--a home is worth what someone is willing to pay for it; it doesn’t matter what the seller needs or potential buyers can afford to spend. Market conditions do matter as does the immediacy for a transaction to take place. In setting a price, it is in the seller’s best interest to focus on the current market conditions in conjunction with general economic value projections over the next six months--you need to be aware of recently sold similar properties in the immediate area--after reviewing the data a fair list price can be determined. Do keep in mind that your house is your home. Emotions are homebound---selling your house is a business transaction. In a business, a professional is able to best to protect your interests. A real estate professional is better at selling your house than you could be at selling your home--The agency relationship, with the right person, can assure the best deal—buying or selling. Knowledge is power—the lack thereof leads to disappointment and future regret. It is commonly agreed that a lawyer who represents him/herself has a fool for a client.
0 votes
Jeffrey Masi…, Agent, Scottsdale, AZ
Sun Feb 28, 2010
Dear Altinaz:

Good question.

If you are able to find a private party that is not have a buyer's agent representing them, you can estimate 2.5% to 3% of your selling price for your closing costs and prepaids. Add to this any costs you have for advertising, purchase and installation of for sale signs, open house signs, consulting expenses to walk you through the offer and acceptance process, any fees you would pay to a potential buyer's agent, legal expenses you use to have an attorney draw up a purchase contract and review it for you along with the cost of your time to be available for showings of the home since you will not be using a Realtor to show the home for the lockbox. Lastly, consider if you could get a higher selling price if you used a Realtor rather than FSBO.

Let me know if I can answer any other questions for you.

Regards, Jeff

Jeff Masich, Realtor
480-556-0940
JeffMasich@ArizonaHomesLand.com
Arizona Homes and Land
http://ArizonaHomesLand.com
HomeSmart Realty
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more