So....For Sale By Owner, eh?

So, you want to sell your home on your own?  That's cool, there's probably just going to be a lot...to learn.  :)

I am not trying to use scare tactics, but here are a few brief things that deserve a little thought.

1. Legality 
• If nothing else, I would at least use a Real Estate Lawyer to look over your purchase contract before signing anything.   
• Make sure you don't forget to disclose things like the roof sometimes leaks & you may have lead based paint if your house was built before 1978.  
• When your buyer does the home inspection, and asks you to fix 54,435 things, how much are you actually liable for?  
• What about wells, septics, radon, & those pesky termites?
2. Home field Advantage
• Hopefully the buyer is using an agent.  They will make your life easier, but also leave you at a severe disadvantage.  The buyer's agent will write up the contract & guide their client through the whole process. They will try their best to get their client the best deal. The agent will set up a home & radon inspection, make sure the sellers fix the requested repairs, make sure the sellers get the termite & well inspection, get all the necessary documentation over to the closing attorney's office,  and be the voice of their client throughout the entire process.  
• Who is going to have your best interests at heart, protect you from subtle tactics, and help negotiate your best deal?
3. The Odds
• 85% of homes are listed through a real estate brokerage firm.  Most buyers (at least 90%) work with a buyer's agent.  A buyer's agent is only going to show houses that are offering a commission - it's the only way they get paid.  The homes that are offering a commission are the ones listed through a brokerage firm.  
• There is no reason for a buyer to not use an agent.  Free advice, free transportation, and free representation are hard things to pass up.
• There are generally a few categories of people that will shop "forsalebyowners".
• Investors - they will want to make a profit on your home, so will probably offer you about 70% of the market value of your home.  *Note: "Market Value" is not correlated in any way to your asking price.
• Unqualified, uninformed buyers & your everyday "looker".
• Buyers who are informed, and who are trying to save money.  They know you are not paying a commission, so they will subtract that from their offer.  
• The buyer will think to themselves, "Well, you are asking $200,000 & not using a Realtor, so saving $12,000.  I can take that $12,000 right off the top of my offer."

If you decide to sell your home by yourself, I wish you the best of luck & still believe it is possible.

If you would like some help with pricing, marketing, & legalities, I will be here.

Call/Text/Email me!