"Aren’t Some Homeowners Successful at
Selling Their Home on
their Own (FSBO)?"
Certainly!
Sometimes people are able to sell their home without the assistance of a
REALTOR®. Some are pleased with the results and enjoy the challenge;
however, many are not.
While you can eliminate
the real estate broker, but you can’t eliminate those things the broker
does. Some you can do on your own; some can be done by your lawyer;
however, something may go undone until rearing its ugly head after the sale.
Finding someone who
wants to buy your home is only the beginning. You will also need to:
Allow enough time to
find the best offer
Make sure the buyers are financially qualified
Agree on a proper contract for sale
Oversee the transaction from the necessary paperwork through final closing
You will also need to:
Set the right price.
Set the price too high, and no one will be
interested. Set the price too low, and you’ve out-smarted yourself.
It pays to higher a professional appraiser to determine the market value of
your house.
Figure out how much income a buyer will need in
order to qualify for a mortgage on your home.
Learn to ask people about their finances before you
start negotiating, or even begin showing the property. Otherwise, a
questionable buyer may cause you to temporarily take your house off the
market.
Remember that oral
agreements for the sale of real estate aren’t binding to either party.
Also, find out what groups are protected by human rights law in your area.
Learn what provisions must, by law, be included in a sales contract in
Wisconsin, and never sign anything without showing
it to your lawyer first.
Don’t admit a passing
stranger who knocks on your door into your home.
Show the property by appointment only, and ask for phone
numbers “so we can call back and confirm our appointment.” (An
important safety precaution)
Watch out for callers
who don’t even care about how many bedrooms you have, but are interested
only in whether or not you’ll sell with nothing down – and hold the mortgage
yourself.
Insist on a
satisfactory credit check on the buyers before you accept any purchase
offer. Otherwise, you could again find your
property tied up for months in a contract that eventually goes nowhere.
You might want to
visit your local library and peruse some books related to selling your own
house. REALTORS® are required to take
continuing education courses to keep abreast of current real estate
practices. Agents do a great deal of studying, so if you are going to
do the agent’s job, it might be in your best interest to do so as well.
Click here to send this article to a
friend
|
