subject: Market Your Home Yourself And Eliminate Agent Fees [print this page] Have you ever wanted to sell by owner when it was time to sell a home, but you changed your mind and listed it with a real estate agent? Do you remember what motivated you to make that decision? I buy and sell homes so frequently that it's not unusual for me to sell by owner when the situation is right. I do it all the time, but I am a professional real estate investor and have many, many years of experience closing sale transactions. The effort it takes me to get a sale closed compared to another seller who does not have the team of professionals lined up to assist me is considerably different. Homeowners who decide to sell by owner with no previous experience selling real estate may find themselves in over their heads in a hurry.
Now, marketing your home yourself is a great idea. That part of the sale process can be a snap, even for inexperienced sellers because so much of advertising and promotion is online now. It's easy to post ads on craigslist.com and ebayclassifieds.com as well as any available local sites, most of which are free to post real estate ads. So many people are shopping for their new home online that you have a great opportunity to get your home out there in front of almost every buyer. I honestly believe that pretty much everyone looks for a house online these days, even people who are also working with an agent. You only need to find one buyer who is qualified and truly interested in your home, so marketing your home successfully is not really the hard part when you sell a house by owner. The hard part is what comes next.
First of all, you have to be certain that you use the proper sales agreement forms for your state and local area. And you have to be sure that you've made all the proper disclosures regarding the property condition. Some of these forms are actually required by the federal government now. Next, you have to deliver the signed documents to an attorney or a title company so that all the legal work can be set in motion because it can be somewhat time-consuming. The primary concern is always the title search which will reveal any liens against your property, or any defects in the chain of title that may require legal work to repair. Those are the issues that can be time-consuming.
And finally, there is the seemingly unending process of buyer financing that will start at the same time. Although you are not responsible for helping the buyer with his or her process, it does mean you have to make your home available for inspections and appraisals and you simply have to wait for loan approval right along with them. Mortgage loan approval can be the most time-consuming part of the sale process these days, and it's good to be prepared for that fact in advance.
