Selling on your home on you own is like using WebMD to diagnose your own medical condition. If you have a minor condition, WebMD is a great place to start. But if your situation is CRITICAL then you better see the best doctor you can find! The same is true about selling your home on your own. If you are not in a hurry and you have time to learn, then give it a shot!
Iff your situation is critical and you want to protect your "assets" use a PRO!
Here's our tips- call us for free advice if you have more questions:
1. Do Your Research
The first order of business in preparing for a home sale is to become familiar with the ins-and-outs of real estate transactions. Since you've been through the experience at least once, pull out the paperwork and contracts on your home and read them. Learn the language of real estate and read a blog or two about how to sell your house.
Gather all the paperwork and forms you'll need for the home sale closing, including copies of property records for appraisers, the title company and others, as well as insurance documents, disclosures and legal documents.
Ask a realtor for a market analysis along with a copy of your local disclosure paperwork.
2. Prepare Your Home
Now turn a critical eye to your home. Cleaver says house issues fall into three categories: cosmetic problems, functional issues and things you can't fix. The first two should be corrected before you try and sell your home and the third, if any, should be addressed with the home's pricing.
Paint scuffed or brightly colored walls in soothing neutrals. Replace carpeting or refinish floors. Make sure that your home is cosmetically clean and perfect. Then turn to the working items in your house - the functional things - and see if they need to be repaired or replaced. Ruthlessly inspect appliances, heating and air conditioning, roof and other items. Cleaver says. If these are nearing the end of their lifespan, they could turn off buyers. Finally, take a look at things that you can't change about your house: Is it on a busy road, adjacent to an odoriferous chicken farm or on an awkward lot directly facing the neighbor's back windows? You may need to adjust or lower the price to entice buyers.
The next step is to clean it, clear away clutter and personal items and stage it. Aim for crisp, clean interiors, closets and spaces. Trim the trees, wash the windows, get rid of big heavy draperies. Stuff like that doesn't cost you anything and it brings the light in, making a home seem bright and spacious.
3. Price Your Home
The number one mistake owners make is pricing their home too high. Price it too high and you might scare off potential buyers. Allow it to sit on the market and it gets stale. Buyers start to wonder what's wrong. Pricing effectively helps a home sell faster.
To determine what you consider the home's fair market value, check out neighborhood sales from the past six months. Attend open houses and check out the competition. You can interview real estate agents, but be up front with them regarding your intention to try to sell the house yourself. Some may decline an offer to speak with you, but many know that you still might need an agent and will welcome the chance.
Finally, if you are stumped, hire an appraiser. A professional assessment could cost between $300 to $500, but having that appraisal in hand is also helpful if there is a wide discrepancy with the potential buyer's offer or the lending appraisal.
4. Market Your Home
For a small fee, owners can list their for-sale-by-owner listings on an MLS. Other outlets, including Craigslist and websites geared exclusively to home-sales-by-owner draw home shoppers. If you use these online avenues to market your home, make sure the site gets a lot of unique visitors. You don't want to waste money on a site that doesn't get a lot of traffic. Best bets: Trulia, Zillow and Realtor.com.
Also, spread the word on social networking sites, forums you frequent and traditional media outlets like local newspapers. To entice agents with buyers, offer a commission, one comparable to one they'd receive in a normal sale. Many first-time buyers use an agent.
Be prepared for the offer and the counteroffer on your home sale. If you have a firm bottom-line in mind, make sure it's justified with strong research and weigh the cost of continuing to market the home. Again, if you are squeamish about haggling, consider bringing in someone to assist with negotiations.
6. Closing the Deal
Make sure you are familiar with the required closing paperwork for a home sale in your state. Hopefully, your buyer will have already shown you their written pre-approval and you will sail through the closing process. But be prepared for snags or delays along the way. Add some cushion to the closing date: Schedule your move and the turnover so that it's somewhat flexible, should the mortgage approval process be delayed. Be prepared for the results of any home inspections and appraisals, and come to the closing table with everything mandated by state and federal law.
Need help selling your home on your own? Call us and we will give your FREE FSBO information pack!
For more information call the #1 Cranberry Township Agents at Berkshire Hathaway HomeServices: Pierre Khoury and Gia Albanowski 724-964-6873