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When selling your house, there are a few things to look out for. This is especially true if you are selling your house by yourself. This guide will walk you through how to sell your house by yourself.
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How To Sell Your House By Yourself A Quick Guide To Selling Your Home FSBO
How To Sell Your House By Yourself Selling your house is something you'll have to do maybe just a few times in your life. And unless you know a local real estate agent who will sell your house for free or a hugely discounted commission... it can be a real pain in the rear and an expensive process for you as well.
Why You Would Want To Sell Your Home By Yourself? There are a few reasons why selling your home by yourself might be a good idea: • You have no or very little equity in your house so you can't afford to pay a real estate agents commissions • You have equity but want to try to save money selling the house yourself before you resort to hiring an agent • You're in foreclosure (or heading that way) and just need to sell fast without incurring thousands in agent commissions • You can't wait the months and months it sometimes takes to sell a house in your area, so you want to try to sell it more quickly
Selling Your Home By Yourself Is A Good Option Since 2013, the housing sector has been experiencing a major recovery. Selling your house at this time will definitely be profitable if you do it right. In most cases, it is about using smart marketing strategies and being realistic about your expectations on what you want to achieve with this sale.
Know Your Real Estate Market Well The first and most important step is doing a market research on your neighborhood. This step involves visiting various home marketing sites (Zillow, Eppraisal, Redfin, etc), calling a real estate agent or two to see what your home is worth, or reading about the various market pricing techniques. Proper homework on these issues will allow you to come up with a right price for your house and also helps you to avoid making certain selling mistakes.
2. Assess The Market This step is almost similar to conducting market research, only that in this case, you are bound to your neighborhood and similar houses. Are there lots of houses for sale in your neighborhood? If so, what is the average that they are listing for? Are there lots of foreclosures in your neighborhood? That may drag your house price down.
3. Assess Your Home As a seller, your house should be in top condition or shape in order to sell at a good price. Identify certain unique characteristics about it and emphasize them during the marketing. For example, if you live in a busy city and your home has off-street parking, this would be a big selling point. Also, does your house require repairs? Does it need to be repainted inside or out? How is the condition of the roof? Is the landscaping in good shape? Is the house outdated at all? All of these things can make the house more attractive or less attractive depending on the buyer... which changes the price they're willing to pay.
4. Use Photos Or Videos Buyers are obsessed with media. Taking walk-through videos of the house and using the videos to advertise will enable you to reach a wider market. In fact, these videos are considered more transparent than taking photos. However, this should not stop you from using the latter option since it is more affordable compared to the video. So take some great pictures. Take a picture of every room in the house that helps show it off. Take a picture of the house from the outside in a few different angles... people want to see the house before they ever show up to see it. So having great pictures of your house online could be the difference between getting the right buyer quickly... and waiting months and months to sell.
5. Get Your House "Listed" On The Local MLS And Market It You can find no or low fee real estate brokers these days who will charge you a few hundred bucks to put your house on the local MLS. This gets your house in front of all of the real estate agents quickly (so be prepared to pay those "buyers" agents a 2-3% buyers broker fee if you plan to have their support in helping you find a buyer. Place ads in the local newspaper, signs on the roads, and hold an open house.
Sound Like A Lot Of Work? It can be. And in the end, many homeowners think they're saving money and time by marketing the house themselves... when in the end it costs them more money to go that route.
When You Sell Your House On Your Own There Are Some Things To Consider • If you're not a good marketer or aren't ready to spend a bunch of time marketing your house right... selling it yourself may not be your best bet • If you don't do a good job preparing the house and the marketing materials... and working with buyers to really build the value of your house in their minds... you may actually sell the house for 3-8% less than you may get for the same house an experienced person marketed the house for you • Too many sellers never think about holding costs or opportunity costs... every month that your house doesn't sell means another mortgage payment, tax payment, insurance, utilities, etc. If your mortgage payment is $1,500/mo... and $1,300 of that is interest... if it takes you 7 months to sell your house... that cost you an extra $9,100 (not to mention taxes and insurance you paid during that time).
Sell To A Local Cash Homebuyer Here at Nexus Homebuyers, we buy houses for cash and can close in as little as 14 days. That means: • No more waiting for your home to sell. • No more months of uncertainty. • You receive a fair cash offer for your home and can rid of your burdensome house in under 2 weeks. • No more repairs • We can even pay your closing costs.
Visit Us Today To Sell Your Home Fast To receive a fair cash offer on your home, visit us at www.nexushomebuyers.com You can also check us out on Facebook, Youtube, Yelp, and Twitter.
