how do you go about selling your house...FOR SALE BY OWNER?is harder then using a Realtor?

Question

my husband and I want to move back to Ca, A.S.AP. but we have no equity in the house because we pay intrest only. so i could save alot by selling it our selves. ANY advice on some options would be great from someone who knows about reality. thanks

Answer 1

Here You will find this article with ADVICE:
EASY OPTIONS TO SELL YOUR HOUSE FAST, here:
http://real-estate-note-buyers.blogspot.com/2007/09/quickly-sell-my-house.html
Good luck!!!

Answer 2

In today's real estate market ... If you have NO EQUITY because you have been paying Interest ONLY ... or because you have NOT been paying on the principle long enough.

It is going to be VERY difficult to walk away with a profit.

When you sell your home on your own ... Most buyers are
expecting to pay a "discounted" price because they know
that you are NOT paying a commission.

I am a Realtor ... and I usually tell my clients ... that you are
going to pay a commission one way or the other. You either
pay it on the "front end" .... by working with a Realtor ... Or
on the "back-end" by receiving a reduced or discounted sales
price. AGAIN ... If you are going to price your house based
on the "average sales price" in your area ... Unless you base
that "average" on ALL "For Sale By Owners" ... then you
CAN NOT expect to get the same "average price" as those
that paid commissions ... AND the Buyers KNOW that!

If you haven't done so already .... I would also suggest that you
determine exactly what you owe. As well as calculate your
"selling expenses" ..... Even if you don't have a commission to
pay ... You will need to pay for Title Work, Transfer Taxes,
Document Preparation Fees .... and depending on YOUR
state .... and your Buyer's Lender .... There may (also) be
OTHER FEES that you would be required to pay.

Bear in mind that because of the "depressed" real estate
market .... Houses are appraising UNDER VALUE ... and many sellers (with or without paying a commission) are
having to bring cash to the closing table.

Hope that this has been helpful .... Get some professional
consultation .... No matter how you decide to proceed.

(Note: Pre-screening your Prospective Buyers is another
issue .... In the beginning you will be excited for ANY body to just look at the house ... But after a while ... you will get tired
of the un-qualified "lookers"..... a Realtor can help you with
this issue!)

Answer 3

Nationally it is proven selling a FSBO (For Sale by Owner) averages 6 to 8 months, with a realtor, 60 to 90 days. If you are in an area that sells well, has a lot of traffic for buyers, you will sell quickly as a FSBO. Your home must always be clean, never any clutter, at its best at any given time. Insure there is no pet smell, smoke (if you smoke). The yard is a major appeal when buyers first see your home. If you have too much furniture, store some, a potential buyer wants to imagine their items in the home. The interior must be neutral, no blues, violets, reds, and if you want to sell paint if needed. Look at the outside for wood rot (repair properly, no wood filler, people can tell and assume other things in the home are not properly repaired), compare your exterior to neighbors. If you even think it needs painting DO IT! Always make sure everything thing in the home works properly including toilets, sinks, etc. Mildew in showers is A BIG, BIG turn off.

One thing you really want to do. The housing market today has reduced appraised values compared to just last year in many areas of the country. Hire an appraiser to give you their opinion. It will also give you a good idea of a price to ask. Remember, you do not have access to all the sales, withdrawals, and expired listings as agent has. You cannot rely on homes currently selling from their brochures because these may not be priced right.

Advertise everywhere! Carry flyers in your car, take them to work, to church, etc. Post in grocery stores, etc. Remember you do not have the 1000"s of eyes on your property everyday as listing with an agent gives you. Selling as a FSBO can be more profitable if you have the time and put the effort into it. You will be on-call to show your home at all hours.

Good luck. "For Sale by Owner" can be hard work.

Answer 4

My experience with those who attempt to sell on their own is that they attract buyers who wish to buy on their own. Many times the first thing out of the mouth of such buyers is "you're not using a real estate brokerage, so we expect you to knock off that commission from your sell price." Such buyers want that commission in their pockets as much as you want it in YOURS.

Bear in mind that you will also have advertising expenses to pay and will need to hire an attorney to give you reasonable legal representation and advice during the transaction.

Answer 5

Anyone that tries to sell a home without knowing the legal requirements will probably get sued by the buyer.

It is hard enough to sell a home by yourself if you do not know how to sell a home.