Selling your home by yourself can be a financially rewarding process or a complete mess.
To keep it on the positive side, there are things you need to know. Avoid the costly realtor service and sell fast with these for sale by owner tips.
Before you put the for sale sign in your yard, there are some things you need to learn.
Start by investigating other neighborhood listings. How long have they been on the market? What are they going for? Drive by and pick up a flyer- which home assets are they featuring?
The answers to these questions will teach you what you need to know about your market.
Like everything in life, timing is also key. Some places (like University town) have buying seasons in the summers when professors are relocating.
If you list at the wrong time, it can make your home look vulnerable. The longer a house is on the market, the more people will assume there’s something wrong with it.
If a buyer likes your home and it’s been on the market a while, they may low-ball or you wait until you drop the price out of desperation.
An easy way to find out when the best time to buy in your town is to call a real estate agent. You don’t have to enlist their official help for this.
Tell them you’re doing market research and ask when the high selling season is in your market. You should get a quick answer.
When you’re doing your market research, you’ll find out what prices are like in your area.
Compare the listings around you to your home for price per square foot. Could you get what they’re asking?
Keep things like bigger yards, swimming pools, or newly remodeled kitchens in mind – they can hike up the price.
Not sure if your assets are valuable to other people? Get an appraisal. A property appraiser will come to your home and tell you what they think is a fair price.
You can ask them for their appraisal in writing and show it to potential buyers if need be.
Look for Pre-Quals
The last thing you want during the for sale by owner process is for your buyer to fall through. It’s heartbreaking and can cause you financial stress.
Finding a pre-qualified buyer isn’t magic, but it’s less of a risk.
Get Help for the Closing
Even in a for sale by owner tips article we recommend getting some outside help.
House closings are complicated and there is too much money on the line for you to make a legal boo boo. Draw up all your papers and have an attorney look over them.
It’ll cost some money, but way less than the 6% commission of a real estate agent.
For Sale By Owner Tips
The most important thing to remember is that you’re catering to the buyer’s wants, not the other way around. Your emotional attachment to your house’s old swing set won’t attract buyers without kids.
If you keep your personal history and memories out of the selling process, it’ll help buyers imagine themselves there.
You could go through this lengthy listing process and follow these for sale by owner tips, or sell your home to cash home buyers. The latter is quicker and puts the emphasis back on your needs.