Should I Sell My Home Myself?
February 25, 2007 by Smooth Moves Lady
Filed under Selling a home
Have you lived in your home for a long time and now you’re thinking of moving? Wondering if you can sell your home on your own? Well there are a lot of things to consider before you try and do it yourself, the real estate market is constantly changing, and without up to date knowledge you could be putting a lot on your shoulders.
Many people try to sell their homes themselves to save money and to avoid paying a real estate agent commission. It looks easy at first. Put a sign in the yard, put an ad in the classified section, wait for the phone to ring, show the house to prospective buyers, and go to closing to get your proceeds check. But wait a minute, there could be problems looming right around the corner.
If you want to avoid using an agent you’ll have to do all the work the agent normally does. Buying and selling real estate involves legal contracts that can get you into a lot of trouble and cause delays if you don’t understand the legal issues of contracts and disclosures.
How much do you know about legal disclosure laws? Are your negotiation skills up to date? How is your marketing expertise, do you understand today’s market pricing, inspections, appraisals, and advertising? Do you know how to screen potential buyers? Do you know the difference between a pre-qualified buyer and a pre-approved buyer? Are you aware of the difference between seller financing and a mortgage?
If you try selling your home on your own you may soon discover how much real estate agents (licensed professionals) really do to earn their commissions.
What it comes down to is that over 90% of all people who start out trying to sell their home on their own will end up listing their home with an agent. Most for sale by owner sellers find out that they don’t want to deal with tire kickers, waiting for the phone to ring, and people who want to buy with no-money down.
For sale by owner works best in a seller’s market when there is a high demand for homes and inventory is limited. Today we have high inventory and moderate demand; we are in a buyer’s market.
To avoid getting in deep trouble use the services of an experienced title company like Amanda at First Title 317-501-6250 as well as a seasoned senior real estate specialist to make your sale go smoothly.
-The Smooth Moves Lady
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