For Sale By Owner - Why Not?
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by: ConnieSanders
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Need to sell your home? In today's market "for sale by owner" may be the best way to sell. Trust me, it doesn't take a rocket scientist to be successful at selling your own home. The information in this article may provide you with in-site you may not have had before. You can do it yourself!
Preparing your home for buyers is simple. New paint works wonders and is not expensive. Make sure everything is clean. The most over looked and most important, ... you need to get rid of the clutter inside and out. Less is more! Rent a storage facility or have a garage sale but get rid of the clutter. Less furniture makes a room look larger. Over stuffed closest are a real turn off to buyers who ALL want plenty of storage space. Get rid of all the nick knacks. Clean out the garage and don't forget the yard.
We all know how important curb appeal is. Get those yards cleaned up, front and back! Remember, an appraisal has pictures of the back yard as well as the front. I know this sounds silly but a junky back yard tells an underwriter a lot about your home's interior and maintenance routine. A buyer may over look it but the appraiser and lender do not.
Get a home inspection performed by a professional inspection service. An inspector will check the structure and systems in your home. He may find things you are not aware of. It is better to find and repair these issues before the buyer's inspector does or before the appraisal is done. Any major issues found could have a direct impact on the value of your home.
Price it right. Get a professional appraisal performed by a HUD approved appraiser. A real estate agent's analysis can be a few thousand dollars off. Many times an agent will just blow smoke by telling you what they think you want to hear.
A local mortgage broker can help you understand financing and the process involved. Most mortgage brokers have free FSBO programs that will help you immensely. It is important that you know what your costs will be based on the type of loan the buyer acquires. Did you know that a VA loan could cost you much more in closing costs PLUS home repairs that probably are not required by other loans? Will your home qualify for a FHA loan without making very costly repairs? If you are on a tight budget and need every possible dime out of the sale of your home you may want to negotiate in the contract that the buyer gets conventional financing.
Your mortgage broker will teach you the areas you need to watch in the sales contract. He may even provide you with blank contracts and other state mandatory disclosures required when you sell your home. Many will even create your home flyer and your financing options flyer. All buyers want to know two things: how much will my payments be, and how much money do I need to pay down plus closing cost.
You should list your home on a "For Sale By Owner" web site. I want to caution you here. A lot of these sites try to charge you a lot of money for things that do not/will not help sell your home. Homebuyers DO NOT spend hours searching "For Sale By Owner" web sites. They work with real estate agents, read the papers, and drive on the streets in the neighborhoods they want to live in.
When you list your home on the Internet you can put the URL in your newspaper ads, your flyers, and on your yard sign. When a buyer drives by your home or sees your ad they can go to the Internet and see pictures, amenities, and the price. If your house fits their needs and their budget, they will call you. If not, it is less of a bother for you.
The rest is just common sense and there is nothing to fear. You Can Sell It Yourself!
About the Author
Connie Sanders operates For Sale By Owner, a free web site to display your home. Connie is always happy to answer your question. check it out. http://www.fsbobasics.com
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