Tips On Preparing Your Home When Selling FSBO Pt 1

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Preparing your home to be sold FSBO, or for sale by owner, is not a lot different to preparing your home for a real estate agent to start selling it for you. The only difference is that you are in complete control over the process. To get a good sale price, as well as a quick sale you will need to be determined, and focused on the task at hand, you will also need to get some things organized.

De-Clutter

The 'de-clutter' word may make people shudder at times, as they think that all of their treasured possessions are anything but clutter. The trick to selling your home FSBO is preparation, and presentation. Remove the possessions in your home that make it your personal haven. By doing this you will give your potential buyers the chance to imagine their possessions in your home, and that will lead to them imagining how great it will be to live in your home.

While your house is on the market, place all of the things that you do not need in storage leaving only day-to-day necessities out. When you have done this walk around your home and look at it. If it feels impersonal, and a little bare you have reached your first goal.

Scrub, Scrub, And Scrub Some More

Once you have removed all of your personal effects, and any thing that does not have to be in your home, you are ready to start on your next FSBO step. You will notice there is a lot of empty space, bare places. You will now need to start in one room of your home, and get the scrubbing brush out and keep scrubbing until you have cleaned the entire room from top to bottom.

Once you have finished in one room, then continue to the next room, and repeat this process until you have cleaned the entire inside of the house. If you are using cleaners while you are scrubbing make sure to use protective clothing and open some windows to provide adequate ventilation.

Paint Your Walls And Ceilings

Regardless of what many people may think painting it is vital to the sale of your FSBO home. For starters you will want to make your home look clean, fresh, and salable, old paint never has that effect even if it is washed.

Another reason why you will need to paint your walls is because you may have color preferences of your own, which may not appeal to other people. By painting your home in clean looking neutral colors you will appeal to any taste in buyer as they will see your home as a blank canvas ready for them to personalize according to their own taste.

Look For Faults

Once you have your home looking clean and fresh you will then need to look over it for any faults, or for things that need fixing up. Are there cracked tiles? What about holes in the walls? Is there anything that you have just never got around to fixing up? Look around the home, jot the jobs down on a pad, and begin fixing them. If you cant repair these things yourself, then call in the professionals.

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Source by Jade Rose

How To Make Short Sale Work For You

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The idea of ​​a short sale may not be that short after all. A short sale is termed as such, because the mortgage company or the lender is willing to sell the home "short" of the total loan amount owed on the home. This process is not accepted or allowed by every lender, but for the home owners who have chosen a short sale and been approved by the mortgage company, there are a few things that need to be taken care of before the home can be listed for sale .

A short sale leaves the lender with less money than originally owed. For this reason, the lender will want to gather financial information on the home owners before approving the final go ahead for the short sale. These financial documents will need to prove that the home owner is n dire straights and will clearly be unable to pay off the current mortgage. This means holding nothing back and having no pride. Every financial burden placed upon the family will need to be played up to the point of sheer sadness. The lender needs to know, without a doubt, that a short sale is the only option outside of foreclosure.

When the financials are received and approved by the lender, the next step will need a little help from a real estate agent or a real estate expert. The lender will want more financials. But, this time, the numbers will need to prove that the sale of the home will leave zero profit for the home owner. If at the end of the net profit sheet there is any money being owed to the homeowner, the short sale will not be approved.

After all of the financials are set and approved. The homeowner is not out of the woods yet. When the home sells, if there is a balance difference between the amount of money the lender is paid for the home and the amount owed on the mortgage. The lender has the right to demand that money from the home owner. No matter how large or how small the sum, the remaining balance on the mortgage is extremely the responsibility of the home owner.

A short sale may seem like a get out of jail free card. But there are careful planning steps, financial valuations and the possibility of still owed money at the end of the sale to worry about for the home owner. There are times when a short sale is not the best choice, but this will need to be discussed with your lender and your real estate agent.

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Source by Julia Vakulenko

4 Tips to Selling Your Home in 30 Days or Less

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The real estate market is hot and you have decided to sell your house. But you need to sell in a short period of time. Most sellers do not know this, but houses on today's' market can sell in a short period of time. As a licensed realtor in the State of Florida with over 10 years of real estate experience, I am going to spill the beans on what you need to do if you must sell within 30 days or less.

1. Hire an aggressive realtor.

All realtors can not provide the same results. Some realtors are more aggressive in marketing the property for sale. You want to line yourself up with a realtor that can give you results. I know of realtors who get listings and they will not even return a phone call to show the property, let alone show the place. So do your due diligence in hiring a good realtor.

2. The price must be right.

Find out what your property is worth. Make sure the realtors you interview provide you with the value of your property. You will be attached to your home, no doubt. But if you want to sell the home, you have to price it right. Homes that are not over priced tend to sell within a short period of time. Of course, you do not need to underprice the property either (unless you are going through a foreclosure). But if you price the property to sell, the calls will come in and you will attract a buyer in no time.

3. Do a title search.

In order to sell your home, you will need marketable title What is Marketable Title? It is the ability to sell with no liens, no open violations, no survey violations etc. You do not really need to know what marketable title is. What you need to do is contact a title company and have them do a lien search and title search for you. While most people wait to sell the home to get this done, if you really want no delays in closing on the home, then consider getting this done before getting an offer on your property. A title company will be able to tell you if your home is marketable. This means it found no reason why you can not sell the home. If you find out that your property has some type of lien problem, then clear it up. That way you can get the home sold in no time. Do not wait for last minute to clear title issues up because it will delay the closing or chase the buyer away.

4. The house must show nice .

You might like to live with boxes and clutter in your home. But when a potential buyer comes along, she wants to visualize herself in the home with her family. You have to think the way the buyer is thinking. Because of this, try to remove the clutter. You do not need to stage a home. But you need to have the home look inviting. That way a buyer will want to make an offer on your home. When I do showings, I always call realtors for feedback. When I show homes, I also call realtors to tell them why my client will not be making an offer. It is usually because the seller has a messy home, and the home does not show well. So avoid this pitfall and just show an inviting home to potential buyers.

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Source by Teisha Powell

Selling My Own Home Without a Real Estate Agent

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Selling my own home without a real estate agent is relatively simple. What makes selling one’s own home so daunting is the amount involved, for most dealing in tens or hundreds of thousands is not what one does everyday. Still, selling one’s own home is simply a process of controlling a few basic points of the real estate sale.

First is determining a sales price. The hardest part of this process is divorcing emotion from business; after all, regardless of feeling selling a home is a business deal. But if one can take an objective look at the sales price of comparable homes in the same neighborhood or market, a ballpark selling price should come to mind. Refining that price may take a trip to the courthouse to see tax value of neighboring homes.

The second process is getting the legal side settled. The safest is finding a real estate lawyer who will provide and oversee all contracts, while also providing counsel. There are lawyers who specialize in helping For Sale By Owner (FSBO) sales at a flat rate, possibly around $500. This can be quite a savings over paying 6% to a realtor. If one is determined to truly go it alone, finding one’s state legal requirement and appropriate paperwork may be found at a legal paperwork site like LegalZoom.com or a legal contracts retail store like We The People.

The third process is marketing. Simply stated, one needs to tell as many people as they can about their home being for sale. The cheapest form is of course word of mouth. The home seller should tell everyone they know that they have a home for sale. Then ask if they know anyone who could use a home that has a large backyard, a garage, and near an elementary school. Of course, substitute the prominent features of the house for sale to match the home for sale. Telling people should be easy to do because one is not looking to sell to the person listening but one is trying to get their house in the listener’s mind. By adding features it helps sort all the people they know and gives a marker for discussion. Like being near an elementary school brings to mind families with young children or having a deck could trigger a couple that enjoys entertaining. Just saying a house is for sale is too broad and brings no one specific to mind.

There is much more that could be said and done for every process but being aware of them is a start. As one begins to work those processes, the fuller nature of what is needed will become apparent.

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Source by Darryl Noble

Selling Your Own Home Online

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Nearly 80% of those who bought a house last year started their search online. If you’re selling your own home, an online For Sale By Owner (FSBO) site is nearly a must. According to realtors, most people who browse FSBO sites will view at least one house that they first saw online – and about half will purchase a home that they found in an online selling your own home web site. Knowing that, how can you not take advantage of all the new selling techniques available to those who are selling their own homes?

What sort of selling techniques are available to you if you’re selling your own home online? Depending on the site, you can literally have a 24/7 open house – without ever opening your front door. With photographs, multiple listings, virtual tours and floor plans, you can literally allow prospective buyers to tour your house without ever leaving their own homes.

There are several different ways to go about selling your own home through an online FSBO web site. Your best option is to contract with a local real estate agent for a flat fee listing, which will give you the right to post your home on a multiple listing service. With a flat fee listing, you pay a local realtor a flat fee of a few hundred dollars for the single service of listing your home with the Multiple Listing Service. Once your home is listed, you can post it on MLS web sites where it will be seen by hundreds of real estate agents and thousands of prospective buyers.

Another way that you can get your house listed on an MLS site is by contracting with a real estate agent with an Exclusive Sale Contract. You agree to pay that agent 2-3% commission if any realtor sells your house during the time that it is listed through him – but reserve the right to sell the house yourself without paying any commission. Again, your main aim, since you’re selling your own home, is to get the house listed on a multiple listing site.

There are also a number of FSBO sites that will allow you to list your home on their sites for a fee. Shop around for the best deal – they range in price from a single flat fee to a 2% commission when you sell your house.

Tips for Selling Your Own Home Online

– Upload at least one picture of your house that shows it in its best light. If you can, have the photograph taken by a professional photographer.

– Has your home got a gorgeous fireplace? A great view of the city? Make sure that you get a photo of that posted – the best way to sell your own home online is to make it look its best.

– Give buyers the info they want to know. Put information about the school system, the neighborhood, the local stores into your online ad. The more they know, the more likely it is that they’ll be ready to buy when they come looking.

– If your home is priced in the high ranges, consider investing in a virtual home tour so that prospective buyers can get a full tour of your home online and fall in love with it before they see it.

– Use your listing page to print out flyers that include the photographs and descriptions, and post them locally.

The internet gives you new tools for selling your own home. Just take it online, and see how far you can go with a few pictures.

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Source by B Shelton

Selling FSBO – Is It Your Cup Of Tea?

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As equity increase in today's housing prices, more and more owners are deciding to sell "fsbo" to save on the commission and also to have more control over the selling process.

If you have never sold "fsbo" before it can be challenging and also rewarding. Giving it a try for 4 weeks should be enough time to test your resolve. In that short period of time, you should be aware of whether or not, going it alone, is for you.

Let's review some of the benefits of selling fsbo:

1. Saving the Commission – In today's market most real estate companies charge around 6% with 3% going to the listing side and 3% going to the selling side. On the sale of a $ 300,000 house that results in an $ 18,000 commission coming out of your equity. If you can sell it on your own, you save that huge chunk of money.

2. Selling FSBO allows you to be in control of the selling process – when it is shown, advertising, buyer incentives, etc.

3. Selling and advertising "FSBO 'seems to be a magnet for some buyers. Just using the word FSBO in the header of your ad should drive the masses to your property. .

Some of the draw downs to selling on your own:

1. Paperwork, paperwork and more paperwork. Just a standard transaction for a residential purchase in my office has over 20 pages of paperwork. As a FSBO, you want to make sure you are covered with too much paperwork and that may just be a hassle for some sellers going it on their own.

2. Headaches with negotiating. Some buyers and sellers who can not come to terms just throw up their hands in disgust. An agent has experience with negotiating and is an excellent buffer between the buyer and seller. If negotiating is not your cup of tea, consider the help of a professional.

As you can see, there are many pros and cons to selling "by owner". Currently, only about 25% of all "fsbo's" that give it a try end up selling their own home. The rest either take their home off the market or end up listing with a professional.

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Source by Tom Jacobson

FSBO, Not a Good For the Current Economy

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Many are selling their property today. However, there are very few buyers. Although the economy is showing signs of progress, it has not reclaimed fully yet. Since the industry is not yet doing well, many believe that it would be best to try the FSBO. With this, they do not need to pay any sales commission, which means that they will benefit from the proceeds in full. However, there are various downfalls of, for sale by owners, in this type of economy. Bear in mind the there are more sellers and there are very few buyers. The competition in the market is tough. With lack of experience, you have a slim chance of success.

Here are a few of the reasons why it is best to work with an agent when selling your property in this type of economy:

1. An agent will assist you during the complex process. As you may already know, there are different steps involved in selling a property. You have to deal with the problems of the title as well as the other restrictions. You have to check your property as well to make sure that you will be able to sell it for a good value.

2. With the help of an agent, you will be able to reach more buyers. You can advertise your property by putting sign in front of your house. You can also post ads in the local newspaper. However, you can use more marketing tools with the help of an agent. Bear in mind that he has connection and he knows how the market works. He can enroll your property in the different sites. He can also ask for referrals from other agents who are working with some buyers.

3. An agent can help you determine the right value of your property. It is difficult to determine the right value of your property nowdays because they are relatively lower. Having an agent will help you determine the best value for your property. He can compare it with other similar properties in your area or use other accurate approach.

4. Your agent will help you compete with other sellers in the market. Since there is a buyers market in the industry today, the competition among sellers is tougher. An agent can greatly help you with this because of his experience. He knows how to attract the buyers and he knows how to negotiate with them.

5. He will protect your best interest. This is one of their responsibilities. That is why you can be certain that you will be informed about the important facts about the transaction.

Selling your property in this type of economy is difficult. That is why you need the help of someone who can make things easier for you. Working with an agent allows you to simplify complex processes. It will even help you reach more buyers and make sure that you get the best value for your property. These would be difficult to achieve if you try to sell the property on your own.

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Source by Roby V. Pagong

FSBO & Working With A Buyer's Agent

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Homeowners selling their own home usually encounter different types of people during the process of their home sale. If it's not the real potential buyer that they have to deal with, it's usually the buyer's agent. Home buyers hire an agent when they lack the time and skill to do the negotiation process and the entire transaction or if they want to make sure that they're getting the best deal.

A buyer's agent can be any licensed real estate agent or broker who represents the buyer. He or she may either be a member of the National Association of Exclusive (NAE) Buyer Agents who represent only the buyers and do not handle listings or a member of the Real Estate Buyers Agent Council (REBAC) which is associated with the National Association of Realtors (NAR). Agents from REBAC have the option to choose to become exclusive buyer agents or an agent of both buyers and sellers.

In selling your home yourself, do learn about the functions of a buyer's agent too. Real estate buyer agents work on commission and are paid by the seller after the transaction has been completed. Home sellers typically pay between five and eight percent of the sales price. However, when more expensive homes are involved, sellers can negotiate for a lower commission rate. In addition, the buyer in his purchase offer can ask the seller to pay all or part of the agent's commission or fee although the seller is not obliged to do so. Proper negotiation, therefore, is of utmost importance when working with a buyer's agent.

Home sellers should also know that an agent who represents exclusively the buyer works for the best interest of his client and is more motivated. Agents should also be good listeners and must be able to resolve conflicts that may arise during the transaction.

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Source by Gloria Smith

Top 5 Reasons to Use a CLHMS Real Estate Agent

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CLHMS (Certified Luxury Home Marketing Specialist) certified real estate agents, because of their extensive training, know how to put your listing in front of the buyers looking for your type of home. Their distinction in marketing luxury homes transcends into other home price points as well. The same skills used to target more affluent buyers and sellers can also be used to successfully target home buyers and sellers in any price point within any market. The key to success is listening to the buyers and matching them to their needs – not the needs of the agents.

In taking a customer-centric approach to buying and selling homes (even in a recession fueled by reduced housing values) you can still be successful in putting buyers and sellers together by listening to needs and matching a buyers needs with a sellers property. A CLHMS certified agent will be best equipped to provide the level of service you expect. There are five main reasons to choose a CLHMS agent:

  1. They have been trained in putting the right buyers and sellers together
  2. They have a proven track record of success
  3. They are within the top 10% of agents in their relevant markets
  4. Their experience transcends price points, being able to serve all types of buyers and sellers
  5. They can get your home the most exposure within your prospect demographics whether it is luxury homes or starter homes

When you select a real estate agent, you want to know that they have the skills, experience, and determination to sell your home, or to help you find one that fits your needs. The requirements to get the CLHMS certification are in line with the requirements you would have in selecting a real estate agent to handle your personal property. Many people choose an agent based on personal reasons, such as someone you know or through through a recommendation. This can be a great solution if the agent you know is well trained and has a track record of success, but you want to make sure that the person handling your largest asset purchase or sale is competent to get it done right. Take the guess work out of selecting a real estate agent and find one with a proven record of success by finding a CLHMS agent.

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Source by Matt Brooks

FSBO, Real Estate Agent, or Both?

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When you decide to sell your home you should consider your options. The traditional method of using a real estate agent is the safe route but can be expensive. The for-sale-by-owner or FSBO method can save you thousands of dollars but might be more work than you expect. Let’s look at the two methods in detail so that you can make an informed decision

Using a real estate agent is the easiest method because you have someone who is trained to sell your home for you. A real estate agent can guide you through each step of the selling process. Your involvement is at a minimal when a real estate agent is in charge. There are several big advantages to using a real estate agent when selling your home.

Real estate agents can market your home using the Multiple Listing Service or MLS. This service allows agents to market your home to other agents and on the internet. Only real estate brokers may list a home on the MLS service. This service is one of the best ways to market your home. When an agent is trying to find a home for a buyer they will use the MLS to look for potential homes. There are thousands of websites that use the MLS listings for content. This means that when you home is listed on the MLS it will be listed on hundreds of websites. Being able to list your home on the MLS is one of the greatest advantages of listing your home with a real estate agent.

Real estate agents will show your home for you. You won’t have to be at home for others to see it. Your agent will take care of showing your home and arranging for other agents to show your home. This is a great time saver. Imagine a hot buyer wanting to see your home in the middle of the day while you are at work. Do you want to have to leave work every time someone wants to see your home?

One of the biggest advantages of using a real estate agent is that they will negotiate for you and handle the paperwork. Selling your home by yourself can be tricky if you don’t understand real estate contracts. You don’t want to lose thousands of dollars or the sale because you don’t understand the contract. Real estate agents can help you get to the closing table.

Selling a home via FSBO has its obvious advantages. Selling your home with a real estate agent will cost several thousand dollars. If you are lucky enough to sell your home FSBO then you will save thousands of dollars. The downside of selling FSBO is that it takes a lot of work. You will have to show your home when someone wants to see it. You will need to be able to negotiate the contract and get everyone to the closing table. You will also need good marketing skills. Selling FSBO is difficult and seldom works.

I would suggest you consider using both methods. You can get the benefits of both methods by using a flat flee service. These services take a flat fee, usually around $500 to sell your home. This method allows you to list on the MLS, use an agent to negotiate the contract, and save a few thousand dollars. This method uses a real estate broker to list your home and do the paper work. If an agent brings a buyer you will have to pay 2 or 3 percent commission but if you sell it yourself then you save the commission.

Take a look at your options before selling your home. Consider the advantages of each and pick the one you are most comfortable with.

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Immobilienmakler Heidelberg

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Source by Jordan S Ashton