FSBO
For
Sale By Owner
If you have the time, knowledge and desire, you
can sell your home yourself. After all, it's not rocket science - but it
isn't nearly as easy as some people might make you think. You may not save
any money in the process but it is your right as an American to sell your
own home.
These are some of the things you'll need to know and do:
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Place an ad in the local paper. Include
town, subdivision or area, price, number of bedrooms and baths and any
other distinguishing features. |
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Consider placing an ad in local
publications. |
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Design a flyer or brochure for your
property. |
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Include photo, description of features,
plot plan and disclosure documentation. |
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Be aware of several methods of financing
available for buyers (assumable, seller financing, variable rate,
adjustable rate and fixed rate loans are some possibilities). You'll
have to trust that buyers are actually qualified to view you home and
able to obtain a mortgage, should they like your home. |
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Know your annual taxes, homeowner's
insurance and utility bills. |
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Know current interest rates for fixed and
adjustable loans. |
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Consider an appraisal to determine
current value. Buyers typically offer less to a homeowner because they
know a commission is not being built into the price. You are trying to
save a commission and so are they, so you need to know your fair
market value. |
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Be sure your home is ready to show at any
time and you are available to show it at any time and be careful when
letting strangers into the house. Remember than not everyone is what
he appears to be. Be sure to secure any valuables and medicines since
you will have unaccompanied strangers wandering. |
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When you find a prospective
buyer, schedule an appointment:
- Set a time at their convenience.
- Prepare for the showing, even if you must leave work to do so.
- Remove any animals.
- Turn on lights.
- Have your brochures available.
- Meet your prospective buyer at the door, introduce yourself and
then give them as much privacy as possible. Buyers often feel
uncomfortable making any comment in an owner's presence. When they
are finished, ask if they have questions or would like a second
look.
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Don't get discouraged - most buyers shop
by comparison and won't initially appear interested. |
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Have any offer put in writing and then
hire a real estate attorney or consultant (like me). |
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Be available for inspections and be
prepared to re-negotiate after inspection finds any faults.
Keep aware of the status of the buyers' financing and be certain they
follow through and obtain their loan. |
Selling your own home takes time, effort and sometimes causes us to
miss what's really important in our lives - family, friends and sunny
days!
Diane's Additional Websites:
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