A lot of people today have the luxury and the time to be able to sell their home on their own terms and by themselves. When homeowners forego the use of a real estate agent of broker, the real estate community refers to the situation as 'For Sale By Owner' or FSBO. If you've never sold your home on your own before, then there are four things you are going to want to do to make sure your home is sellable.
Prepare your entire home for selling.
Always make sure the interior of your home is in as tip top shape as possible in order to sell it. Make any necessary repairs, clean out the clutter and go for the minimalist look with furniture in all rooms, and make sure the home is clean. Update your kitchen and bathroom if you think it will help sell the house.
Do the same things outside by improving the landscape, making sure the lawn is cut and repairing anything outdoors - such as the fence or porch - to make your home have 'curb appeal'. Paint the exterior, make all minor repairs, and don't worry about what everyone thinks about the money you are putting into the home. As long as you break even or make a profit, everything you do is worth the effort.
Use a professional for all appraisals and home inspections.
Make sure that you use a professional appraiser and inspection officers in order to get a fair market asking price for your home. Plus, if there is any additional damage that you are responsible for fixing before the house is sold, they will alert you to the problem. Sometimes it's better to drop the price of the house and leave the problems for the new owners to fix than it is juggling around fixing it yourself.
Advertise, advertise, advertise.
Use a large 'For Sale By Owner' sign in your front lawn to make sure that everyone sees it. List your home in the classified section of all the local papers and on the FSBO sites available on the Internet. You can pay small fee to the Realtor's Multiple Listing Service (MLS) to have your home listed in there, opening it up for the buyer to approach you through a real estate agent. Place fact sheets about the house in a box by your sign, distribute them around the neighborhood and local shopping centers if allowed, and always make sure you are available for prospective buyers to come look at the house. And don't get offended when they inspect every little nook and cranny of your home.
Finally, make sure the buyer's deal is legal
and binding before accepting an offer.
You as the seller have every right to request a copy of the buyer's pre-approved or pre-qualified loan certificates. Make sure that they sign a legal and binding intent to buy contract. You can purchase these at your local office supply store or download them from the Internet. Hire a real estate attorney to close the deal with you and make sure there is nothing unusual that will pop up during the sale when you least expect it.
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