|
|
|
|
| Selling Your Own Home in 30 Days |
If you are planning on selling your own home, you can save
thousands of dollars by avoiding a realtor's 6% fee. On a
$400,000 home that translates into $24,000 to be paid out of
your pocket to the realtor. Add in attorney fees and other
closing costs associated with selling your own home and that big
profit you thought you would make on the sale of your home has
evaporated.
The following tips will help you sell your own home quickly.
Additionally, learn how to prepare your home for the marketplace
and maximize your profits.
What's Your Market? Do you know your local real estate
market? Specifically, are you familiar with home prices, market
conditions, the schools, local government, etc? Knowledge is
power as well as money in your pocket.
Here are two ways to find out what homes like yours are selling
for in your area:
1) Call several real estate appraisers. Let them know you are
selling your own home and ask for a comp search (comparative
sales search).
2) Check with a realtor for the going market rate.
Prepare Your Home. To get top dollar when selling your
own home, make all minor repairs and paint rooms as needed. Cut
the lawn and trim the shrubbery, get rid of everything you do
not need, and put everything in its place.
Get a professional home inspection. Then correct every item on
the inspector's list. Then have that same inspector |
re-inspect
the home and give you a report stating the home is in perfect
order.
This will become a great marketing tool to show prospective
buyers.
Realtor vs. Do It Yourself. Once you are prepared to list
your home, you will need to decide whether to use a realtor or
do it all yourself. That 6% fee can be a real drag on your
profits, especially if you are in a hot market and buyers are
certain to be interested in your home.
You can negotiate a lower fee or a flat rate with a realtor
especially if you want them to share some of the headaches
involved in selling your own home.
Start Marketing. Hire a photographer to take pictures of
the inside and outside of your home. Find a photographer who is
familiar with real estate photography and who can put your home
in the best possible light.
Next, create professional looking brochures or flyers just like
realtors use. Include several full color pictures, details about
the house and your asking price.
Finally, add your information to select For Sale by Owner
websites.
Make sure that you put all the web contact information in your
brochures and flyers. Use a temporary email address to avoid
spammers now and well after you're done selling your own
home.
Asking price. Obviously, your asking price is a major
consideration when selling your own home. Remember that comp
search you did |
|
|
earlier? Order an appraisal from the real estate
appraiser who quoted you the highest value for your home. Then
you can price your home slightly under the appraised value if
you wish to sell quickly.
It is important to ask several appraisers for a comp search
before ordering your appraisal. I have seen appraisers differ as
much as $100,000 on the value of a home.
Buy a Warranty. Offer a one year home warranty especially
if your house is older. A warranty gives potential buyers the
assurance you are standing by your sale as well as offering
peace of mind in the event something major breaks [like your
furnace].
Sweeten the Deal. In some cases you can sell your home
much faster if you offer incentives to buyers. You won't call
them that, but if by including your brand new washer and dryer
units in with the sale helps to tip the sale in your favor, by
all means include them as part of your sale package.
Wiggle Room. If your local real estate market isn't
particularly hot, but you do have someone who has shown interest
in the house:
1) Make certain you have some room to drop your price to
accommodate the buyer.
2) Offer no money down financing. Call a local mortgage broker
and ask them to pre-qualify your prospects on one of their no
money down loans programs. Simply tell the buyer to call your
mortgage broker for financing.
3) Offer to pay for the |
buyer's closing costs. This expense
would only be a few thousand dollars and can be paid at close
with your equity.
You may give up a few thousand dollars but think of the money
you'll save by deciding not to use the 6% commission agent.
Use an Attorney. If you decide to sell the home yourself,
hire a real estate attorney before you start the selling process
to make certain your contracts and other paperwork is in order.
You will pay extra for his professional advice, but you will
save many headaches or heartaches later on.
Yes, many sellers are choosing to represent themselves when
selling their own home. You can too, but please know that the
work you will have to do in order to bring about a successful
sale can be time consuming and loaded with pitfalls. Count all
the costs and go with the plan that works best for you when
selling your own home.
Please feel free to reprint this article as long as the resource
box is left intact and all links are hyperlinked.
About the author:
Hartley Pinn has recently created the Mortgage
Leads Generator Training Course to teach people how to make
over $50,000 a month working part-time (10 to 15 hrs per week)
as a mortgage loan officer.
For more information visit:
http://www.Mortgage-Leads-Generator.com
|
|
|
|
