| We all know it's bad out there...With the severe | | | | in the local paper which resulted in few potential |
| credit crisis and the declining housing market, Fox, | | | | buyers. |
| CNN, MSNBC, and even the President remind us | | | | - Those that did respond wanted to see my |
| of our struggles daily. Home foreclosures are at | | | | house at all different hours of the day or night. I |
| an all time high, even in my neighborhood in Austin | | | | was afraid to say no in fear of losing a potential |
| Texas with many more foreclosures predicted to | | | | buyer. |
| come. Housing resale values are at all time lows | | | | - I would have to keep my house clean and all |
| with no end in sight. Even the banks are going | | | | picked up, only to have them flake out and not |
| bankrupt as many Americans no longer qualify for | | | | show up! |
| credit. | | | | - Other times I had some pretty scary people |
| Because of the recent credit crisis, many people | | | | show up with their rowdy kids in tow, trampling |
| don't qualify for a new loan to buy a house right | | | | through my home. |
| now, despite the incredibly low housing prices. | | | | I never did find my ideal buyer. Even if I did, I had |
| Many home sellers can't sell their unwanted | | | | no idea how to get them qualified, how to handle |
| houses because they owe more than their house | | | | all the purchase and sale paperwork or how to |
| is worth due to falling house prices. Many sellers | | | | get the house closed. I said "There has to be a |
| can't even rent their houses out for enough to | | | | better way to sell my home!" and I was |
| cover their mortgage payments, taxes and | | | | determined to find it. |
| insurance resulting in severe negative cash flow | | | | 2. I listed my house for sale with a local Austin |
| that bleeds then dry month after month. To | | | | real estate agent. |
| make matters worse, many tenants end up | | | | I called an agent from a local, seemingly reputable, |
| trashing the house when they move out making it | | | | real estate agency and made an appointment for |
| even more difficult and expensive to sell. | | | | her to come out and see the property. The agent |
| If they list their house with a real estate agent, | | | | sounded like she really knew what she was talking |
| their house will likely sit on the market for a long, | | | | about and got me really excited about the |
| long time waiting to sell since the buyers seem to | | | | prospect of selling my home quickly. She said she |
| have magically disappeared. Even if the house | | | | would list my house in the MLS, on dozens of real |
| does finally sell one day at a greatly REDUCED | | | | estate sites throughout Texas, advertise my |
| price to get it sold, the owner has to pay a 6% | | | | house in the local paper and other print |
| real estate commission plus the majority of the | | | | publications, do multiple open houses, put out |
| closing costs. This often results in the seller writing | | | | signs, balloons, flyers in an information box and |
| a big, fat check at the closing table to finally get | | | | went on and on about how she could sell my |
| their house sold. | | | | home and still get top dollar. How could I refuse? I |
| So what are my options to sell my house in | | | | didn't. |
| Austin Texas fast in this depressed economy and | | | | I listed my house and waited, and waited and |
| housing market when many folks can't get a loan? | | | | waited. The agent put the house on the MLS, but |
| By trial and error, I discovered the following 3 | | | | the market was pretty tough and, despite her |
| alternatives to try to sell my Austin TX home | | | | best efforts, six months later, I still didn't have a |
| quickly... | | | | buyer. Meanwhile, my house had not only |
| 1. I tried to sell my house in Austin "For Sale by | | | | decreased in value because it would not sell for |
| Owner" aka "FSBO". | | | | the list price, which had been reduced repeatedly, |
| At first, selling my house by myself sounded easy | | | | but also because of all the other listed houses and |
| enough, but it soon became my worst nightmare! | | | | foreclosures on the market in my area of Austin. |
| What went wrong: | | | | At this point, I was all out of ideas and praying |
| - At first I didn't know how to attract buyers | | | | for a solution. About that time, someone at my |
| that might be interested in purchasing a home in | | | | church told me about |
| Buford Georgia...The For Sale By Owner sign in | | | | 3. I contacted a local, professional home buyer |
| the yard wasn't working. | | | | from Austin, Texas. |
| - I ended up spending a fortune placing classifieds | | | | |