For Sale by Owner

For Sale by Owner

Selling your own home as “For Sale by Owner” can be a risky and potentially expensive experience, not to mention extremely stressful.

Currently the only real estate contract recognized and approved by the Arizona Department of Real Estate is nine pages in length. Among other things, it discusses issues such as disclosure, fixtures and personal property, financing, title and escrow, swimming pool barrier regulations (even if you do not own a pool), inspections and warranties, definitions of the inspection period for both buyer and seller, reasons for legally canceling of the contract, how to cancel the contract, remedies for breach of contract; release of earnest monies, mediation, exclusion from mediation, etc.

Selling your home as “For Sale by Owner” can be like trying to fix the wiring in your home with the power turned on very risky and dangerous. In the event someone makes a mistake, either buyer or seller, the consequences can be financially devastating, sometimes continuing on for years.