Homes For Sale By Owner – Make It Easy On Yourself
Jul 11th, 2009 by master
Homes for sale by owner? Indeed. Here are some tips to make it easier on yourself as a home owner who wants to sell your own home without paying the 3% to 6% commission that typically goes to a realtor.
While the largest percentage of homes are sold through real estate agents, if your home is so desirable to buyers, why not just sell it yourself and you keep the commission – or at the least split it with the buyer so that you both benefit? You benefit with lower costs after it’s all over and the buyer gets to move into your home at a lower price. That’s win / win.
So the question becomes – why not sell your house yourself, and if it so easy then why do so few do it?
The simple answers are… it is not as easy as you might think to sell your by yourself. For many people the whole idea is overwhelming and intimidating so it’s a task they will gladly pay someone else to do.
WHEN IS THE BEST TIME TO SELL YOUR HOME
In order to sell your house promptly there are a number of planning and marketing steps. So let’s talk about getting prepared to sell your house. Timing is one thing.
Although some people are house shopping throughout the year, often buying is fueled at peak times.
A leading market for houses is families. Kids have to go to school. Generally parents dont want to disrupt their children’s school year or have to drive the kids across town to the old school for a portion of the year.
So the two big times for home sales are spring and fall as the school year ends and before the fall start of the next school year. Many of the other homes that are bought and sold are flow-on from the initial sales of the owners of this first group. So the major home selling time of the year is more restricted than you might think.
In addition to that there are climate concerns for the assessment of foundations and yards, and then there is the fact that many people do not want to move at certain times of the year (such as Christmas) and you will see that adequate preparation of your home for sale for those peak time periods is essential for a speedy sale and good selling price.
PRICING YOUR HOME
First of all you have to price your home properly and competitively.
One of major problems of private sales is a lack of reality on the part of private home sellers. It’s not hard to understand why. It’s not that the private home seller intends to be unrealistic. It’s just human nature at work.
Typically a home owner thinks their family home is in impressive condition and of course it’s in a attractive location and yes, it has a better layout or some attractive features that other homes don’t have, so they hike the hoped-for price up to an unrealistic level that is out of harmony with the real market.
The simple remedy to this problem is to have your house professionally valued by a home appraiser. If you are still not sure you can always pay for another valuation. Either way you will be still far ahead of the game.
Some folks have used actual real estate published data, information from their local city, or even asked real estate professional for their input and expertise as well.
PRESENT YOUR HOME JUST LIKE A PROFESSIONAL SELLER WOULD
Act as if you were a professional real estate agent selling your home. Present it in the most advantageous way you can.
First impressions are everything. Have the house cleaned. Have the yard cleaned up and most presentable. Complete those minor repairs around the house that you have been meaning to do.
ADVERTISE YOUR HOME ON THE INTERNET
When making major purchases these days, such as buying a home, most people see what they can find on the internet. So be sure that your home is listed on the internet with a pleasant snapshot and complete correct details. The worldwide web is a great way to make sure that it is widely known that your “home for sale by owner” is available.
BE AVAILABLE AND RESPOND TO PROSPECTIVE BUYERS QUICKLY
Make sure that the phone number or email address is correct and is answered promptly. If you and your spouse work most of the day, either have an answering machine, a cell phone or both. Being easily accessible is most important.
Be prepared to show your home within a reasonable time frame and at times of day acceptable to your potential buyers.
HAVE THE LEGAL PAPERWORK READY
Be sure that you have the legal documents available to close the home sale promptly. This involves having at least two copies of the sales contract available. One for your records, the other for the purchaser.
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