If you sell your home for $250,000 using the services of a realtor, then it can cost you between $15,000 and $17,500 in commissions. Would you rather not put that money toward the purchase of your dream house? Sale by owner homes can be sold quickly and at a significantly reduced cost. By following the steps in this article, you will sell your property effortlessly while saving a bundle in real estate costs.
Before putting your home on the market, thoroughly clean and repair the interior and exterior of the house. To make your home appear spacious, remove all clutter and store anything that isn’t in immediate use. To maximize curb appeal, trim the trees, plant colorful flowers and make sure your lawn is neat. One detail that is often overlooked is the way a house smells. If you have pets, this can be of great concern. Thoroughly clean your carpets and curtains and place scented oil or candles in discreet locations. It’s also beneficial to have a professional home inspector check for any problems.
Settling on an appropriate asking price is critical. Do a real estate search on similar models in your neighborhood that have recently been sold. Over-pricing is the most common reason sale by owner homes don’t move. In general, setting the price of your home at 5 to 10 percent above the market price will result in an offer close to your home’s true value. Since you don’t have to pay fees to a real estate agent, you may want to consider reducing your asking price. This will have buyers flocking to your property, which is especially important if you need to sell quickly. Also, hiring an experienced real estate lawyer can help you to evaluate the details of offers and will also act as an escrow agent.
The key to selling your home quickly is effective advertising. Some sites allow FSBO home listings to be posted for free, so check for what’s available in your area. When placing your ad, include several flattering photographs of your home and make your advertising copy short and simple. Highlight attractive features like “priced below market,” “close to all amenities” and “newly upgraded.” Lawn signs are one the most important marketing tools for home sellers. Attach a container of information sheets to the sign so that people can contact you right away.
For sale by owner properties require a lot of work, but the financial rewards make it well worth the effort. The key is to have your home well priced and looking great. Educating yourself about the nuances of the real estate market in your area will make you as effective as any realtor – without the expensive fees!