The Process Of Selling Your Home Yourself

There are some sellers who really want to sell by owner

, but when it comes time to sell a house they give up and list it with a real estate agent. I often wonder what motivates them to change their minds. Because I buy and sell houses for my business I usually make a decision about each house individually, sometimes I sell by owner and sometimes I go ahead and list the house. What it comes down to is this - rather than spending the time and effort required to get a sale closed I'm better off hiring an agent to help me than trying to do everything myself. Of course I know what to do, but I just don't always have time to do get it all done. Homeowners who decide to sell by owner with no previous experience selling real estate may find themselves at a disadvantage when it comes time to sell by owner.

Marketing your house on your own is not a bad idea. That part of the sale process is not hard for anyone, even inexperienced sellers. Writing ads to post online and placing ads in the newspaper is pretty easy. And it's free to post ads on craigslist.com and ebayclassifieds.com, though some local forums associated with TV stations or printed shoppers often charge a fee. Most buyers are looking for their new house online, which means you have a great opportunity to have your house out on the web where almost every buyer is shopping.

There's no doubt that you'll get traffic to your classified ad when you post your house online these days, even people who are also working with an agent are looking on craigslist.com. And remember, you only need to find one buyer, one who is interested and also qualified for financing, so marketing your house successfully is not really the hard part when you sell by owner. The hard part is what comes after finding the buyer when selling a home.

As soon as someone is interested in making an offer on your house you have to make sure to use the proper sales agreement forms for your state and local area. And you also have to check to see that you have filled-out all the proper disclosures regarding the property condition because most of these forms are actually required by the federal government for every sale and they have to be filed with the county recorder along with the other sale documents. Than you have to take the signed documents to an attorney or a title company for them to complete the necessary legal work. The seller is responsible for researching the title because that process will reveal any liens against the property or any defects in the chain of title that may require the attention of an attorney to clear up prior to closing. Some of these problems can be time-consuming.

I can't fail to mention the process of buyer financing that will start at the same time you take your sales agreement to an attorney or title company. Although you are not responsible for helping the buyer with his or her financing, you do have to open your house to inspectors and appraisers when required, and then you will be waiting for your buyer's loan approval for as long as it takes. Truthfully, these days it's the mortgage loan approval that can delay a sale, so it's best to be prepared for that fact in advance.

by: Leo Kingston

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