Learn the Procedure to Perform Sale Through Ownership

February 9, 2019 | Author: | Posted in Realestate

A homeowner does not need to sell their property through a real estate agent. In fact, many homeowners are now opting to sell their homes themselves in a process known as For Sale By Owner. Here are a few crucial steps every homeowner should follow when listing their home as FSBO.

Steps to Successfully Sell Your for Sale By Owner Home

1: Think Like a Salesman

According to HGTV, the first step in any FSBO property sale is to think like a salesman. Although it’s easy to view the house through an emotional lens, it’s important that you look at the home objectively, so you can appropriately price it, market it and sell it. Remember, it may have once been your dream home, but your goal now is to sell it for as much as the market allows.

2: Understand Your Home’s Strengths and Weaknesses

Bank Rate states that understanding your home’s unique strengths and weaknesses is crucial. This means more than being able to highlight the renovated kitchen while downplaying the small bathroom space. You need to be able to spot potential problems or issues that home buyers might be concerned about. For instance, know the age of the plumbing, appliances and other expensive elements of the home. The more knowledge you can provide, the more confident a buyer will feel in their purchase.

3: Confirm There are no Liens on the Property

Many homeowners are surprised to learn that they could have liens on their property without even knowing it. Check with the county courthouse or hire a real estate attorney to help you confirm that your property is ready to sell.

4: Have Your Property Appraised

U.S. News and World Report insist that you have your home appraised before putting it on the market. By knowing the current market value of your home, you can list it for a price that is reasonable yet may earn you a little more than its lowest value.

5: Make Necessary Renovations

If you believe that the value of your home is lower than you think it should be, you may want to invest in renovations that may increase the value. Enhancing curb appeal or updating rooms like the kitchen or bathroom can potentially add a few thousand dollars to your home’s value.

6: Master Your Marketing

Real estate agents are trained in marketing a home in the best possible way. You’ll want to put the same amount of work into your own marketing efforts. Advertise through any methods you have available and even consider getting your home listed on the MLS website.

It’s possible to sell your home without a real estate agent. Follow these steps and you’ll find that successfully selling your For Sale by Owner home can be painless.

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About Author
Sunwest Escrow, Inc. is a customer-oriented servicer of private mortgages, real estate contracts, and other installment type notes. Sunwest Escrow, Inc. was formed by the owners of Sunwest Escrow, LC in order to provide a wider range of financial products. Defined simply, an escrow is a deposit of funds, deeds, or other instrument by one party for the delivery to another party upon completion of a particular condition or event. In some cases, escrow is short-term, such as the deposit of earnest money pending the closing of a real estate sale.

Author:

Sunwest Escrow, Inc. is a customer-oriented servicer of private mortgages, real estate contracts, and other installment type notes. Sunwest Escrow, Inc. was formed by the owners of Sunwest Escrow, LC in order to provide a wider range of financial products. Defined simply, an escrow is a deposit of funds, deeds, or other instrument(s) by one party for the delivery to another party upon completion of a particular condition or event. In some cases, escrow is short-term, such as the deposit of earnest money pending the closing of a real estate sale. In other cases, escrow is long-term, where an instrument—such as a deed—is held for an extended period while installment payments are made against the purchase of an asset. The escrow is not closed and documents released until all conditions of the escrow agreement are met.

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