The TRUE cost of selling a home on your own
Is a DIY home sale right for you?
Does the idea of “Do It Yourself” really appeal to you A LOT? Do you like pulling on the old work gloves and losing yourself in a project?
If so, you may find yourself tempted, when the time comes, to sell your own home. It’s perfectly legal and acceptable, but is it the BEST choice for you?
Two scenario’s that may have you seriously contemplating the For Sale By Owner option may be that you bought under less than ideal conditions such as:
- Buying the maximum house price the budget could be stretched to accommodate
- Buying with little or NO money down; leaving you with large mortgage payments
You may have already tried to refinance your existing mortgage to bring payments in line with new budgetary concerns. Perhaps you are considering selling in order to reinvest in a home with a mortgage payment that better fits into your new budget guidelines.
These circumstances may be what has led you to the temptation of attempting to “save thousands on commission fees” by choosing the For Sale By Owner route.
The truth is that DIY home sales could cost you thousands and lose you the very qualified buyers you truly want to work with!
Consider this list to decide if selling on your own can honestly work for you:
- You understand that Buyers typically offer 10-20% less than “market value” on FSBO; they want savings, too
- You have the time and temperament to deal with strangers traipsing through your home at all hours of the day and evening hours, too.
- You have the know-how necessary to protect your interests in contract negotiation without offending other parties involved so you can get to a win-win resolution
- You have the ability to objectively evaluate current market conditions and can price your home accordingly to appeal to buyers; without pricing too high or too low!
- You are aware of marketing and advertising trends to position your home in this market place
- You have access to and knowledge of the correct sale forms that will protect you from any legal issues cropping up after the sale (Real Estate Commission approved forms can halt lawsuits after the closing!)
As the real estate market reinvents itself, buyers and sellers are discovering that their best transactions occur when they work with seasoned agents who have the knowledge and experience to protect a client’s best interests.