How To Sell Your House Yourself (FSBO) | ||
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Whether you list with us, professional real estate specialists, or decide to sell your home by yourself, you should know the basics of the home selling process.
I know it is tempting to try to save the commission by selling the property yourself. A few people are comfortable in the role of "For Sale By Owner." You may be one of those people.
But, before you undertake the monumental task of handling your own home sale, you should understand what it takes to sell a home in today's market, for the best price in the shortest time, and achieve a trouble free sale.
Price Your Home To Sell
To set a competitive price - neither too high or too low - objectively compare the price, condition and features of all similar homes on the market now, as well as those that have sold in the past six months. Be familiar with the terms of each sale - often today terms are as important as price. Prepare a new proceeds sheet to estimate how much you will actually gain from the sale. A prospective buyer may also ask for an estimate of buying costs.
Research Pre-Sale Details
Be prepared with contracts and forms to handle seller's disclosure, purchase contract, mortgage payoff, deposit receipt, buyer's cost sheet, loan application, property profile fact sheet, closing and settlement statement, personal propery exclusion list, property survey, and other such matters, to help a buyer make a decision on your home and to satisfy many legal requirements.
Fix Up For Sale
Do a pre-selling walk-through inspection, noting all repairs and fix-ups necessary to make your home stand out from the competition. Complete the repairs before selling.
Maximize Your Home's Exposure
Spread the word about your home sale through advertising, open houses, and especially by telling everyone you know. Signs and ads reach only a small percentage of potential buyers - most buyers come from referrals of satisfied customers and cooperating multi-list brokers, not advertising. Consider ways to reach out of town buyers. Be ready to answer the phone and give every prospect a house tour at the prospects convenience.
Pre-Qualify Prospects
Make sure the prospects can afford your home and are truly interested in buying. Carefully analyze their financial standing, including salary, debts, liabilities, job security and creditworthiness. Be prepared to follow up prospects with phone calls.
Show the Home Objectively
During the tour, stay in the background and let the prospect discover the house. Be careful not to become defensive if the buyers point out flaws in your home. Lessen the impact of flaws by pointing out the home's compensating factors. Tailor your comments to fit the prospects needs and interests.
Handle Negotiations
Try to keep interest in the sale high while you resolve buyer doubts, agree on the price, terms, inspections, date of possession as well as respond to any objections. Be prepared to explain the contract to the buyers and write addendums. Have the contract examined by your real estate attorney.
Provide Financing Details
Many buyers need assistance finding the right financing to help them purchase. Explain the pros and cons of different types of financing(contact your present lender for help) and identify the lenders who offer the various types. Thoroughly explain all loan documents and application forms to the buyers. Be ready to answer a buyer's technical questions on loans, points, taxes, ownership costs, closing costs, title insurance, and so on.
Handle Settlement Details
Manage settlement details carefully to prevent problems and a lost or delayed sale. Schedule inspections, conduct the buyer's walk-through inspection, obtain all the necessary paperwork(including the legally-required settlement statement), follow through with the lender and answer questions about settlement details.
As you can see, my job as a professional real estate specialist takes more than just matching a buyer with a house. But only you can decide if the commission is worth it. Naturally, I think it is. Whether or not you list your home with me, I'm here to help.
Referrals: Let's work together
If you do decide to sell by yourself, I'd still like to work with you. Your buyers may need to sell their old home before they can buy yours, and I would like to get their names to help them sell. Also I'd like to stay in touch to get the names and numbers of people who looked at your home but didn't buy it. If you have questions regarding selling possibly your most valuable asset give me a call, after all, helping people sell and buy is my business. Please call...
