With a robust real estate market, selling a house isn't
particularly difficult. Here's a primer on how to sell your own
house.
How To Sell Your Own House
First and foremost, you need to educate yourself on how real
estate transactions happen. There are online guides and plenty
of books on the subject at your local bookstore. When you
decided to sell your own house, you are considered a FSBO seller
[for sale by owner]. This FSBO market is growing like mad, which
means you can find form contracts and agreements ready made for
your particular state.
A second thing to realize is real estate laws are generally
governed by states, not the federal government. This means the
particulars of real estate transactions in your state may be
different from those in another state. You should look for
references related to your state, not nationwide advice.
Nonetheless, here are a few universal pointers.
1. Determine the price of comparable homes in your neighborhood.
This is going to give you a very good idea of what you can ask
for your house when you put it on the market.
2. Objectively look at your home and make a list of things that
need to be fixed. Selling a house often comes down to the
details. Buyers are making a big investment, so they are going
to be very picky about little things.
3. List your house online with photographs at a site like
FsboAmerica.org.
4. Post flyers or ads in your local property listings magazines.
5. Put a sign on your lawn indicating you are selling.
6. On the sign post, put a box with flyers describing your home
and the asking price.
7. Hold open houses for buyers to view your house.
8. Clean your house before all open houses. Add fragrant flowers
to rooms, mow the lawn and so on.
9. Get rid of your junk through a garage sale and the trash.
This includes cleaning out the garage and basement. Everything
should be pristine.
10. Create a documented record of all the improvements you've
made to the home to show potential buyers.
11. Become conversant in the offer, counteroffer process.
12. Develop a clear understanding of what happens during closing
and make sure you'll be able to take care of your part.
13. Figure out what you plan to do when you sell the house, to
wit, are you going to buy another house and when will you move?
While these guidelines will take you a long way, it is important
you understand the specific laws of your state. Once you have
those down, the process typically goes fairly smoothly.
Considering you'll save thousands or tens of thousands of
dollars in real estate commissions, any bumps in the road will
be more than worth it.
More Information:Visit
http://www.fsboamerica.org/ for more details.
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