The process of home sales has traditionally been handled by the real estate agent. However, in recent years the idea of owners selling their homes themselves has gained momentum. The FSBO method of home sales is usually utilized by owners who want to save money on fees that are typically changed by a realtor. That being said, there are quite a few things that a realtor does in the sales process that you as a seller will have to see to yourself. Its a good idea to educate yourself on these before you dive into a FSBO arena.
Selling your home yourself can be an extremely rewarding process. It can also be quite tiring as there is a lot of legwork to be done. Usually your first step will be to have a few CMA's done on your home by local realtors. This will give you a good idea of what homes in your area are selling for. You do not want to simply pick a number that you would like to see on a check as that will almost ensure that your home does not sell. You have to keep your home competitive with others that offer similar floor plans, an a realtor marketing package.
The marketing of a home is one of the most important steps of the selling process. Try to find a FSBO website that offers you the ability to post your listing on the web. In today's high technology world, most homes are seen for the first time online. Unfortunately a simple "for sale by owner" sign will not draw the attention that you need and want. The other thing that you should be sure to do is familiarize yourself with the financing options that are available for FSBO homes. Many mortgage companies will offer different packages when dealing with an FSBO home, make sure that you know these as well as the buyer does. Finally, if you are not well versed in real estate contracts, find some help. With a sale as important as this you need someone who knows contracts inside and out. This is to ensure that you are not taken advantage of or contractually obliged to terms that you did not agree to or that you are not legally responsible for. These contract professionals can also assist with the transfer of title, and the monies involved in the sale. You can not be too careful with such a sale.
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Source by Ken Hamric