There is no rule dictating that you can’t sell your own by yourself˳ In fact, there are other home owners like you who have done FSBO (for sale by owner)˳ However, there are several things needing consideration for the process to be successful and beneficial on your part˳
Home Value: You can’t just put an FSBO sign in front of your house without knowing how much your house is valued in the market˳ Of course, determining the figures will need you to avail the services of a professional appraiser˳ His expertise on the matter will be crucial to price your house enough˳ Not too low to be below than your buying price and not too high for it not to be purchased at all˳
Marketing: As the sole person in charge of selling your home, you need to explore all advertising channels available˳ Because you’re on FSBO, you can’t put your house in MLS˳ It’s available to real estate agents only˳ You probably have to rely on the power of social media to make a buzz about your house being sold˳ Free ad posting services are also available like Craigslist˳ You can make flyers and brochures if you want and leave them in high-traffic spots like cafes, bars, restaurants, and parks˳ But you also need to cooperate with the owners and managers before you can distribute ads in their places, but it’s worth trying!
Contract: You should have the contract ready because a buyer can agree to purchase your house any time, and at times when you won’t expect it˳ Contracts are hard to prepare because there are legal matters associated to it˳ For hassle-free preparation, a real estate attorney helps well˳
Security Deposit: You’re putting your house on FSBO because you need funds˳ When negotiating with a buyer, tell him that when he agrees to purchase the house and signs the contract, he should make a security deposit for his intention to buy the house˳ There should be clear agreement as to when the security deposit will be returned to the buyer and to when it will be forfeited in your favor˳
Property Taxes: Avoid being caught in a dilemma after you have sold the house˳ Property taxes are associated costs that come after˳ Talk to a real estate accountant to determine the due taxes after successfully selling the house˳
These are just four of the many things you need to know about FSBO˳ Inspections, buyer qualifications, and title should be discussed as a separate entry˳
Source by https://ezinearticles˳com/?Selling-Your-Home-As-FSBO—What-You-Need-to-Know&id=8393433
