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