Legal Question in Real Estate Law in Arizona

I want to sale "by owner" my home which is free & clear, with a lawyer to write the bill of sale.

Must I have an appraisal ?

In advance, thank you. Nicole Ray.


Asked on 9/23/09, 12:37 pm

1 Answer from Attorneys

Donald Scher Donald T. Scher & Associates, P.C.

You can sell your house without providing an appraisal. It is the buyer's mortgage lender that will require an appraisal so that they can determine how much they will loan to the buyer. If the buyer pays the purchase price in cash, no appraisal is required.

You need a lawyer to prepare the Rea Estate Purchase and Sale Contract. A bill of sale is not used to sell real estate. If the buyer is represented by a real estate broker, then the buyer may offer a purchase contract and your lawyer would be needed to advise you of your rights, duties and obligations under that contract.

It is in your best interests to get good advice and counsel right now. You could lose your buyer and the sale of your house, if you do not know how to present the house for sale, and how to respond to an offer to purchase, correctly and in the proper fashion.

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Answered on 9/28/09, 5:40 pm


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