Thursday, July 1, 2010

Should I sell my home myself?

Great Question!!

Selling your home can be a long and complex process. You need to think of all the angles, positive and negative. Here are few things to think about:

Pricing Your Home -
A. You need to find an accurate value that will create interest in potential buyers and a value that will also satisfy you.
B. Find a website like to give you a market snapshot of your area. A detailed CMA (Comparative Market Analysis) is also extremely valuable.
C. For Sale By Owners typically attract bargain hunters, so be prepared to negotiate lower.

Marketing and Showing your Home -

A. You must market your home so the potential buyers can find you, which will include signage, classified ads, open houses, websites
B. You'll be responsible for all showings of your home, so you must encourage appointments and discourage "drop-ins"
C. Screen the potential buyers from the "lookers" and the "curious". This will also include pre-approving the buyers to ensure they can afford to buy your home.
D. Keep the interest high and make the final agreement as quickly and efficiently as possible. When the offer is made and you've agreed on a price, make yourself available for any objections and concerns.

Drawing up a Contract -

A. You'll need to find an attorney or someone familiar with real estate contracts to help you draw and finalize
B. Include a list of all items you want written into the contract (fridge/stove/dishwasher) or items you want to exclude (personal property)
C. You MUST by law disclose any material defects in your property to the buyers.

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