| Like most people, you are probably thinking to | | | | of clueless first time homebuyers. |
| yourself, "if I can sell my house fast without | | | | To sell a house fast involves a deep knowledge |
| paying a real estate agent's commission, I'll save a | | | | of the real estate market. If a property is over |
| lot of money. If you are just testing the market | | | | priced, it will become stagnant and develop a bad |
| and don't need to sell your house quickly, then | | | | reputation. If the home is priced too low, it could |
| ignore this article. Otherwise, here is some | | | | cost you serious money. Some FSBO's found that |
| information to consider. | | | | the money lost because of poor decisions |
| At first, most homesellers think selling a home is | | | | outweighed the commissions. |
| quick and easy and why pay for what they can | | | | In a buyer's market like we have now, where |
| do on their own? In fact, nearly 25% of all homes | | | | houses are not selling quickly being good at |
| sold in the last year were sold "for sale by owner" | | | | marketing, sales and negotiations are required. |
| also known as FSBO. | | | | These skills are even more critical if you are |
| But almost half of the FSBO's admitted that next | | | | behind on your mortgage and are in a rush to |
| time, they would work with a Realtor or, if the | | | | stop foreclosure fast. Mistakes can result in your |
| house needed a lot of repairs, a reputable "We | | | | missing the small window of opportunity to |
| buy ugly houses cash" company. 30% of home | | | | unburden yourself of the albatross before it is too |
| sellers indicated they were dissatisfied with the | | | | late. |
| results achieved by electing the For Sale By | | | | Before you make the decision to go the "sell my |
| Owner route. Why? | | | | house without a real estate agent" route aka |
| Many FSBO's said that the time, the hassling with | | | | FSBO, review the risks of assuming total |
| unqualified buyers and the paperwork involved in | | | | responsibility versus hiring a professional. Some |
| selling a home fast was not worth the money | | | | investigative time in the beginning pays off |
| saved in Realtor commissions and fees. | | | | substantially in the end. |
| For others, the money they saved while trying to | | | | If you can answer the following questions |
| sell your house fast was even more disappointing | | | | positively, you may be able to sell your house |
| when they finally realized the extra mortgage | | | | without a Real Estate Broker or agent. |
| payments they made as the process dragged on | | | | - Do you really have the energy, time, ability and |
| and they had to keep reducing the price. Not | | | | the know-how to put in a devoted effort to sell |
| forgetting all the research time looking for and | | | | your house? |
| paying monies to advertising and marketing | | | | - Am I ready to work with the rush of buyers, |
| consultants, places to advertise, escrow, pest | | | | who think FSBO's are targets for low balling? |
| inspectors, title inspectors, surveyors, title | | | | - Am I offering options for financing? How |
| lawyers, appraisers, city and fire permits, other | | | | prepared am I to answer questions about |
| consultants, etc. | | | | financing? |
| It would have been better to just pay the real | | | | - Do You completely understand the legal |
| estate broker's fee and let them handle | | | | consequences and the steps necessary to sell |
| everything and probably gotten the house sold | | | | your house? |
| faster. Even if it was an ugly house in disrepair | | | | - Am I capable of dealing with legal agreements, |
| that they needed to sell as is, a reputable "Sell | | | | contracts and buyer disputes either before or |
| your house fast as is for cash" company would | | | | after they present the offer? |
| have been less aggravation than dealing with lots | | | | |