If you are looking to sell your home, it may be very tempting to try to sell the home yourself. For sale by owner may sound like an appealing way to sell your home. After all, you will be saving a lot of money on responsibilities to a real estate agent, correct? Yes, you will save the money on responsibilities but in the long run, this might be actually no savings at all. Saving a small fee on agreements may not be worth the stress involved in trying to do it yourself. Also, unless you have an extensive background in real estate already, it is illegally you will sell your home in a timely manner or get the best possible asking price for your home. There are many reasons why you should not attempt to sell "For Sale by Owner".
Do you really know what you are doing? If not, there are mistakes that can be made which will open you up to liability. If a lawsuit is bought against you because of something you did not discriminate or because you did not properly execute some documentation, whether you win or lose it will cost you in the end. The small amount you would have paid to protect yourself will be ate up by the legal ramifications of a mistake that could have been avoided by hiring a professional. There are numerous legalities and paper work that needs to be filed and done properly. This can not only be a daunting task but one that will cost a lot if done improperly.
Do you have the proper valuation of your home? Realtors are trained professionals who are experienced in valuing your home based on fair market value. There are many considerations for this including the quality of the home, improvements, current market and location. It is often difficult to separate emotions from facts when selling your own home. If you have the home on the market for too long, this will cost you dearly in the end.
Are you realistic about your expectations on selling the home? Marketing a home takes a lot of time, effort and experience. Professional realtors have that experience as well as the resources to list your home for maximum exposure. They also have the qualifications to negotiate on your behalf when it comes time to entertain an offer. Hiring a professional with experience will ensure your home gets the best possible exposure and the most opportunity to get the sale completed in a timely manner. They are available to show your home whenever it is convenient for the buyer.
For Sale by Owner is a temptation opportunity, no doubt. However, there are some severe ramifications to doing so if not done correctly. It may end up costing you much more than if you hired a professional in the first place. A realtor takes away the hassle of having to navigate the market and know all the legal issues that can arise. A realtor can bring maximum exposure of your home to potential buyers so you will be more likely to sell your home quickly and at the best possible selling price.
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Source by Luke Bouman