Free FSBO Selling Tips
The choice to sell your home by yourself, instead of using a real estate agent, saves you money because there are no commission fees. To be successful in selling your home, you must utilize the same skills used by a real estate agent. Marketing the home means more than putting a sign in the front yard or running an advertisement in the newspaper. Use a few FSBO, which means "for sale by owner," selling tips to make marketing your home successfully.
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Neutralize Home
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Clean every surface of your home, inside and out. Put away personal items, including family photos and awards. Patch any holes in the walls and paint with a neutral color. Remove extra furniture and art work from the home. Remove any clutter from the basement, garage or attic. Empty and clean any outbuildings, as much as possible. Remove any yard or garden features you plan on keeping. Put outdoor toys and furniture into storage. The object is to create a clean, blank canvas inside and outside for the potential home buyer to visualize his personality in the home.
Pricing
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Do a market analysis on your home to determine the sale price. Calculate your selling price by determining how much the other homes in your neighborhood sold for in the past year. The important thing to remember in pricing your home is to compare it to homes with the same square footage, resources and amenities. You may be tempted to raise the price because of certain features, such as a garden water feature. Remember, the new owners may not want those features. Base the price of the home on comparable sales in your neighborhood.
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Legal Representation
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Unless you are familiar with the real estate laws, transfer fees and regulations for your area, hire an attorney. The attorney can review the final paperwork for a sale, retain a title company and file the deed transfer in the courthouse. However, when you sell your home without a real estate agent, you are legally responsible for representing the property truthfully. If the basement floods every spring or the roof leaks when it rains or the electric is not up to code, you must disclose such information to the potential buyer.
Negotiating Sale
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Receive as much of your asking price as possible by negotiating the terms of the sale instead of the price. You may plan on taking the appliances, but a potential buyer may pay more if the home transfers with all appliances. The same is true of the window treatments. The buyer may request you leave the portable shed or pay closing costs, which means you may request a higher selling price to cover the costs. Negotiate the sale so your selling price is as close to the asking price as possible and so the buyer is satisfied with his purchase.
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References
- Photo Credit For Sale By Owner sign image by Edward Stephens from Fotolia.com
