Here is the truth about selling your home FSBO. Indeed you can save money from other traditional selling solutions but selling your home on you own is not for everyone and should not be used in every situation. Below you will find the basic steps in selling your home by yourself.
Selling You Home Steps: Attend Your Local FSBO Seminar: In every major metro city there are FSBO companies that operate the local FSBO advertising market. These companies can be helpful but in my experiences they give you vague information and charge you for everything. FSBO seminars are not for everyone and will cost a few dollars, usually between $25-$45 per person. It is a 30-60 minute presentation by a FSBO company employee on how to sell your home. Most of the presentation is directed on how their company can help you and the products/services they provide. If you want to save some time and a little money do your own research or finish reading this post and you will know all the steps involved in selling your home on your own.
Determine Market Value: For this step I am a firm believer you should spend a little time or money. It is not as easy as driving through your neighborhood and seeing what your neighbors home is selling for. Determining market value is much more complex and should be done very carefully. Market value of your home should consider all the details about your home including but not limited to; square footage (above grade and below grade square footage have different values), floor plan, upgrades, neighborhood, school districts, curb appeal, surrounding amenities, age of home…and the list goes on. Because this is a very important task I recommend to avenues in determining the market value of you home.
Use a Real Estate Agent: If you have already made up your mind that you will be selling your home FSBO I would recommend not wasting a realtors time and taking advantage of their resources. Realtors work hard and I’m sure you would not like it if someone asked you to work for free. If you are open to the possibility of listing your home with a realtor then I would suggest asking a local realtor for a listing presentation. Real estate agents have some massive advantages over us when determining market value of a home. For one, real estate agents are in the business of selling homes. The do not get a pay check unless their listings sell. They also have access to the Multiple Listing Service (MLS). This is a database that contains all the homes currently on the market and all the recently sold homes. If you are open to the possibility of listing your home with a real estate agent ask one to give you a listing presentation. Their presentation should include the market value of your home. They will also explain their services they offer. If after the listing presentation you like the idea of using them for their services, then great. Hire them and let them take over the work. If after the listing presentation you still want to sell your home FSBO, well now to you know the market value of your home.
Have An Appraisal: I recommend hiring a professional home appraiser and having your home appraised. This appraisal will cost you between $200-400 depending on your location and your home, but it is worth every penny. Besides you will have to pay for an appraisal anyway when you get an offer on you home. Note that you can not always https://www.craftlabs.sg/ use your initial appraisal as the appraisal needed when you get an offer. It is law that the buyers lender order the appraisal so they know it is legit. If the appraisal company you used is also used by your buyers lender then you can use the same appraisal. An appraisal is a report that will give you your home value and include a minimum of three comparable properties in your area. These comparables are the homes the appraiser used to determine your homes market value. I always get an appraisal for the homes I sell. Then I market my homes a little below appraisal and I have proof of my claim.
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