A Little Advise for “For Sale by Owners”

    With the media stating that the market is hot!  It’s a seller’s market!  It’s a great time to sell!  It’s during this time that we typically see many “For Sale By Owner” signs pop up in our neighborhoods…….Hey, I can’t blame them.   Some home owners want to squeeze every bit of equity out of their house that they can.  If you are thinking about it here are a few things to be aware of.

    Be ready to negotiate!

    1. The Buyer.  Have they been pre-approved by a lender?  Do they have a house to sell before they can buy?
    2. The Buyer’s agent. Most buyers in today’s market want advice from a professional on price, home inspection issues and mortgage information.
    3. The Home Inspection Company.   Most buyers want a professional home inspection done.  When issues or repairs are listed in the home inspection, you’ll be negotiating those repairs with the buyer and the home inspector.
    4. The termite company.  Look for a reputable one!
    5. The buyer’s lender.  Do they have hidden sellers costs involved in the loan program that the buyer is needing to use?
    6. The appraiser. Does your price fit the value that the appraiser places on your home?
    7. The title company.  If there are extra costs involved in the title search? the transfer of the buyers funds at closing? scheduling the closing with all parties involved.
    8.  The town or municipality.  Are there lot line or property disputes?
    9. The buyer’s buyer.  With this we mean, do YOUR buyers need to sell their home before they can buy?  If they are under contract, are THEIR buyers able to get a mortgage and will they be able to close on their home?
    10. And in some cases, YOUR Bank….do you have multiple mortgages on your home or do you have a short sale situation, meaning do you owe more on your house than it will appraise for and sell?  If so, you will need to contact your mortgage company and seek approval for the short sale.

    As a Real Estate Professional, we are trained to negotiate in all of these areas….it’s our job and we do it every day!

    Using an agent can net you 13% more, so that 6% you think you’re saving is actually costing you 7%!

    Today’s buyers are are internet focused.  Approximately 88% search online for their next home.  Most real estate agents have an internet strategy to promote the sale of your house.

    The bottom line?  Before you take on the challenge of selling your own home, sit down with a real estate professional in your market place and get advice.  You won’t be sorry you did!


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