FSBO – Sell Your Own Home – Why Not Give it a Try?

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So, you're thinking of selling your own home, but you're just not sure where to start, or if you can do it.

Before you go any further, answer just one question … What do you have to lose by trying to sell your own home?

Given the fact that you could save between $ 6,000 and $ 24,000 in commission fees, is not it worth a try? In doing so, you will not hurt your future chances of selling with a realtor, if that is where you absolutely end up. In order to sell your home there are two key undering factors that have to be met:

1. You must price your home correctly
2. You must find a qualified and interested buyer

There are a couple of ways to get the answer to number 1. You can get an appraisal of your home. That will cost $ 200- $ 600 depending on where you live. Often times this appraisal will include comparable sales of homes like yours in your area.

However, we will assume that you are trying to save money, so it might make sense to leverage some of the tools on the internet to give you a means to price your home. There are many sites available to help with this, but there are two prominent sites where you can get a rough appraisal of your home, as well as comparable sales. They are listed below:

www.zillow.com
www.homegain.com

There, you now have the first half of the selling equation. Now you need to find a qualified and interested buyer. Again, keeping your budget in mind, we will leak the power of the internet. If you've never used Craigslist.com before, it is a FREE site which allows individuals to sell almost anything. You sincerely need to create an account, and then create your ad.

When creating your ad, be sure to include all of the pertinent information regarding the specs of your home. For example, # of bedrooms, bathrooms, sq. footage, acreage of land, school district, etc. Try to include a paragraph description of your home which uses adjectives to give your house 'life', and to entice your potential buyers.

Another free means of promoting your home is to send an email to everyone you know. It should announce your intention to sell your home, and include similar information as what you included in your Craigslist ad. Be sure to mention to your email recipient that they can forward the email. Perhaps you could create some incentive like $ 500 to the ultimate referrer.

You can accomplish all of this in one day, and have your home listed with potential interest coming in almost immediately. Why not give it a try. Set a deadline – say 3-4 months? If it does not work out, then move to the traditional sales channels for marketing houses, such as a realtor.

What do you have to lose … besides a big commission?

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Source by Andy Arnold