13 Keys to Sell Your Own Home

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Here is what a successful FSBO looks like. Leaving out any one of these, or not doing any one or more of them well, could either kill your transaction or end up in expensive and stressful litigation. Where hypertext is included, you can read an expanded explanation. You must have:

  1. An Accurate assessment of the market and a comprehensive plan;
  2. A good appraisal of the property (or accurate CMA);
  3. A well planned advertising schedule;
  4. In the best available advertising mediums within budget;
  5. Possession of Documents needed to comply with the law for the type of property being sold, including legally required addendums;
  6. A thorough understanding of the common legal issues that create problems for Sellers in order to practice preventive law;
  7. A sufficient understanding of structural, mechanical, and electrical systems in order to practice preventive law and avoid claims of misrepresentation;
  8. A sufficient understanding of who and how to work with key professionals, such as surveyors, appraisers, loan officers, mortgage brokers, title officers, escrow officers or LPOs, possibly the Buyer's attorney or Realtor, septic inspectors, building inspectors, sometimes hydrologists;
  9. The equivalent of an expert's knowledge on contract drafting as well as above-average expertise of the English language and grammar, all required to avoid serious legal problems (ambiguities are a very common area of ​​litigation in contracts);
  10. Possession of expert negotiation skills;
  11. Possession of the patience of Job;
  12. Possession of the ability to pay attention to details and to follow through on numerous details (much more significant than it sounds);
  13. Commitment to be the transaction supervisor, meaning responsibility over all parties involved in obtaining the transaction funded and closed. Someone needs to make sure everyone is getting their job done on schedule. Do not assume they will without adult supervision.

For detailed explanations, see: For Sale By Owner Tips

Best regards, Chuck Marunde, JD
http://www.SequimPortAngeles.com

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Source by Chuck Marunde