For Sale by Owner

Many homeowners believe to maximize their home sale they should sell it themselves. At first glance, they feel selling a home is simple. In fact, close to twenty five percent of all the homes sold last year were sold For Sale By Owner (FSBO). Many FSBOs told us the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the fees paid to consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising, they would have been better off to have paid the broker's fee that would have included many of these charges. Before you decide to sell FSBO, consider these questions.

Do I have the time, energy, know how, and ability to devote a full forced effort to sell my home?
One of the keys to selling your home effectively and profitably is complete accessibility. Many homes sit on the market much longer than necessary because the owner isn't available to show the property. Realize that a certain amount of time each day is necessary to sell your home.

Am I prepared to deal with an onslaught of buyers who perceive FSBOs as targets for "low balling"?
Another challenge of selling a home is screening unqualified prospects and dealing with "low-ballers." It often goes unnoticed that much time, effort and expertise is required to spot these people quickly. Settling for a "low ball" bid is usually worse than paying broker commissions.

Am I offering financing options to the buyer? Am I prepared to answer questions about financing?
One of the keys to selling a home is to have all the necessary information the prospective buyer needs and to offer them options. Think about the last time you purchased something of value, did you make a decision before you had "all your ducks in a row"? By offering financing options, you give the home buyer the ability to work on their terms. You'll open up the possibility of selling your home quicker and more profitably. A professional real estate agent will have a complete team for you yo maximize your profits.

Do I fully understand the legal ramifications and all the necessary steps required in selling a home?
Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your state's disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, you may want to consider consulting with a professional.

Am I capable of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?
To avoid any disputes, it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.

Have I contacted the necessary professionals: title, inspectors (home and pest), attorney, and escrow company?
Don't randomly select inspectors, attorneys, and title reps. Like any profession, there are inadequate individuals who will slow, delay and possibly even cost you the transaction.