How do I go about selling my house myself ie. without estate agents?

Question

Anybody got ideas about or experience of selling a house without using an estate agent.

Answer 1

Its a lot of headache to sell on your own.But definitely it saves a lot on commission.But make sure that you are selling at the Right price.The pain of regret is more expensive than the cost of a mistake.

Answer 2

I work in an estate agency and I often think I'd like to have a go at selling my own house when the time comes to move. But there's a lot to consider - especially with these HIPs packs coming in this year. Also, the estate agent is better placed to qualify your prospective buyer, you as an individual won't be able to check his financial credentials or speak to his solicitor, so it's probably best to get an agent in.
Tivodan - 6% commission from an agent to sell your house? You were robbed. We charge 1% +vat!!

Answer 3

Put the for sale by owner sign in your yard once you get an interested buyer for your property the next step will be to find a loan officer to get them pre-qualified for a loan on the property the buyer(s) and their real estate agent will have to agree on the sells price of the house, amount of closing cost you are willing to pay and other terms agreed on. If you know an real estate agent for a small fee($100-$300) depending on what they charge get them to write up the contract for you, or you can get the buyer(s)agent to write up the contract for you also for a small fee.Once the contract is written up and signed by all parties all you have to do then is wait on the loan officer to get the buyers loan into closing. The loan officer will set up a closing date which the buyers will sign the new the documentation of their new house you will close after the buyers and turn over the keys to the property a day or two later after the deal is closed you will get the money for selling your house. Good Luck!!

Answer 4

You need an attorney handling the closing only if you reside in a state that attorneys do the closings. In the states that don't require an attorney just open escrow. Between escrow and the mortgage broker 99% of your problems will be solved. You are required by law to disclose any defects you know that exist in the property. There should be a list of things that you must disclose you might find this list at your local real estate board. Sometimes as a public service they will simply give you one if you ask for one. If you don't know of a defect you can not report a defect. Don't be foolish, if the sewer pipes connecting you to the city sewer line is damaged they didn't get that way on Monday one day after closing, so sure you are going to be liable and possibly sued if it is found out you had a problem with your sewer before. I hope this has been of some use to you, good luck. "FIGHT ON"

Answer 5

Statistics have shown that houses listed with real estate agents sell for 10-15% more than For Sale By Owner houses. Even when you factor in the agent's commission (usually 6%), you still come out ahead. I'd never do it without an agent.

Answer 6

Study the market in your area. Determine the correct value of your home.
Clean and tidy your home. Secure all valueables. Declutter and then declutter again. Shampoo carpets, trim shrubs, wash windows, degrease the stove, scour the bathrooms.
Plant flowers in front and degrease the driveway.

Put a sign in the yard with a flyer container with attractive flyers listing your price, size, brms; baths, etc. several phone numbers.

Put an ad in the paper with all of the same.

when someone calls, prequalify them for the loan amount needed to buy your home once their amount of down payment has been deducted from the sales price. If they qualify. Then invite them over for a look.
Let them look at the house while you are standing just out of the front door. (see secure all valuables note at top)
When they come out say something fun like. Are you ready to pay me two and 1/2 times my price? No? ok did you like it? Have questions?
Answer all of their questions politely no matter how stupid you think that they are.
Of course you will need to be aware of all fair housing laws since you are fully subject to such laws whether you know them or not.

If they are ready to make an offer. Get out your contract and write down whatever offer they want to make. Take an earnest money check. Tell them you'll talk it over with yourself and get back to them tomorrow. Call them back the next day and continue negotiations. Come to an agreement and then rewrite the contract and get all signatures.

Open escrow with the title co deposit the check and complete the required paperwork and inspections. Be sure that they have a competent lender and are pre approved for the loan that they need. secure the financing and close the deal.

Somewhere in that time frame don't forget to go get a place to move to buy or rent or whatever, be out on the agreed upon day.

Best of luck,

Answer 7

If you were being sued for a large amount of money would you go to court and defend yourself? If you had a $150,000 tax problem would you try to deal with it on your own, or would you hire a qualified accountant? Then why would you risk the biggest financial asset you have by selling it yourself?

Realtors have the knowledge and expertise to price a home correctly and navigate the intricate details of a contract.

The buyer will probably have representation, who will represent you? Should you be sued, ignorance of the law is not an excuse. Hire a Realtor.

Answer 8

Usually the best to sell your house is through a real estate agent, the reason being is that they know how to market your porperty and they have more marketing tools at thier disposal. But if you want yo could go the a site called forsalebyowner.com and post open house signs around your area.

Answer 9

Yea if you are in a hot market you could sometimes get away with just sticking a fsbo sign in the yard, in weaker markets you need to market the house, use web sites, newspapers, craigslist etc. offer incentives such as paying the buyers closing costs as you are saving thousands by having no agent involved

Answer 10

If you have to ask, hire an agent. This is why we are professionals, we know what we are doing.
Good luck
RE Agent,
Remax