For Sale by Owner – Realtor Secrets 101 For FSBOs

It’s no secret that today’s real estate market is tough.  Worried sellers are trying to sell their homes themselves.  Home property values are down, and they desperately want to save the cost of a real estate commission, so they try to market their properties as FSBOs (for sale by owner sellers).  Makes sense, right?

Yes, “if.”

If you are accustomed to taking responsibility for yourself, have some business sense, have bought and sold homes before, have some time and money to invest in the project, and know and can use the tools and techniques that good Realtors use, then the answer is an unqualified and resounding, “Yes!”   You have the right mind set and the ability to actually earn the Realtor’s commission.  Either the whole commission, or just the part the selling agent would have gotten.  Earn is the operative word here.

So how do good Realtors do it?

Good Realtors start with the basics and work through a systematic, well designed and thought out, integrated, multi-media marketing plan.

Property Condition

At the risk of alienating new listing clients, good Realtors tell it like it is when it comes to getting a home into shape to show well.  If you plan to be a successful FSBO seller, you need to do this for yourself.  Do one or more rooms need to be painted?  Do carpets need to be shampooed?  Are all door knobs and locks tight, and in good working order?  Does it have “curb appeal?”  Is it clean, tidy, uncluttered?  Are closets jam packed, or tidy?  Have any burned out lights been replaced?  If you are smart, you’ll take care of these sorts of items before your property goes on the market, and keep them in good order.

Price

Realtors who continue to earn a living in down markets are very good at getting their listing clients set realistic asking prices for their properties.  A Realtor friend of mine often asks her clients, “Do you want to list your property, or do you want to sell your property?”  Price can make a huge difference in the outcome, and my friend knows that.  A person can put property on the market at any price.  It will not sell unless the price is realistic.

Buyers are out there even in a slow market, but they are VERY price conscious.  In areas where the market is weak, it’s generally effective to be priced just under the list price of any comparable home that’s for sale in your neighborhood AND a bit lower than the recent “sold and settled” comparable properties in the neighborhood.  Time and again, I’ve seen people make the mistake of coming in with a price above those things.  The property lingers on the market.  They lower the price again and again, but if they’re just behind neighborhood prices and the market prices continue to go down, they “follow the market down” without making a sale even though they’re lower than what would have sold a few weeks or months ago.  Try not to let that happen to you.

Internet Marketing

Realtors put information about the homes they hope to sell in their local, Realtor multiple listing service (MLS), and on the Internet.  The best ones see to it that full information about price, number of bedrooms, number of baths, number of garage spaces, size and location of lot, plus interior and exterior photos, and what makes the property attractive appear on the Internet.  You need to do the same.  There are several really good online MLSs for FSBO sellers and buyers.  Use one or more of these sites, and take advantage of all the bells and whistles (many photos, captions under the photos, a place for descriptive text, map to your property, hit counters, a unique web address for your property, etc.) they offer.  Today, approximately 70% of home buyers begin their search online. 

This is just getting started.  In “Realtor Secrets 201,” we’ll discuss the next steps.   

The For Sale by Owner Option-Selling Your Own Home

The majority of those who successfully sell their own property are the property owners who live in highly populated metropolitan market areas where property sales are more common. In a buyer’s market or in rural areas it is much harder for properties that are for sale by owner (FSBO) to successfully sell.

A buyer’s market is when there are more home sellers than there are people to buy homes. This creates a situation where the home buyers are exposed to a large range of property to choose from making it a more competitive market for the sellers. Homeowner’s should opt for the FSBO option only where the local economy is doing well and it is a seller’s market.

To be considered a seller’s market there needs to be more buyers then properties for sale. In a seller’s market the buyers are left with fewer properties available to them. This often creates a situation where the sellers are much more selective on the buyer and also get a higher selling price for their property.

There are other economic issues that play a role in the real estate such as home mortgage interest rates, local employment, and consumer confidence. Unfortunately we can’t control the economy and some are forced to sell their homes or buy homes in times that are unfavorable financially to them.

There are a few things people who succeed at selling their homes do to increase their odd of winning at FSBO. They need to be able to have the financial support that it takes to keep their property exposed to those who are purchasing homes for the entire period it takes to sale a home. This advertising period is at least 90 days and includes personal signage, advertising, repair costs of the home, and professional legal advice. You also should have a little bit of spare money to back you up financially if there are any marketing mistakes.

You should also have basic business knowledge about important marketing, personal selling, as well as enough technical information on real estate principals and practices. This will prevent you from making informed decisions that can cost you a lot of money and stress.

Anyone who wants to list the property FSBO must be disciplined with marketing goals and objectives with set time frames for the process and finalization of those goals and objections. You need to be able to be very organized and able to pay close attention to details.

There are a lot of stressful moments when selling something as expensive as your own home so you need to be able to keep a business perspective on all decisions. When selling you own home always avoid guesswork and replace it with concrete analysis. Making informed decisions is much less stressful then guessing.

If you want to sale you own home successfully you need to be a wise negotiator and be able to effectively deal with the different personalities in your potential home buyers. Be ready to and well equipped to sell your home and plan to use a lot of time devoted to selling your home.

You may wish to contact Joe and Colleen Lane, Realtors® for more info on real estate, especially in the areas of Pasco Wa Real Estate, Richland Wa Real Estate, and surrounding Southeastern Washington Communities.

For Sale By Owner – You Can Do It!

Need to sell your home? In today’s market “for sale by owner” may be the best way to sell. Trust me, it doesn’t take a rocket scientist to be successful at selling your own home. The information in this article may provide you with in-site you may not have had before. You can do it yourself!

Prepare your home for buyers. New paint helps and is not expensive. Make sure it is clean, clean, clean. Most important and most over looked by sellers, you need to get rid of the clutter, inside and out. Less is more! Rent a storage facility or have a garage sale but get rid of the clutter. Less furniture makes a room look larger. Over stuffed closest are a real turn off to buyers who ALL want plenty of storage space. Get rid of all the nick knacks.

We all know how important curb appeal is. Get those yards cleaned up, front and back! Remember, an appraisal has pictures of the back yard as well as the front. I know this sounds silly but a junky back yard tells an underwriter a lot about your home’s interior and maintenance routine. A buyer may over look it but the appraiser and lender do not.

Next, get a home inspection performed. An inspector will check the structure and systems in your home. He may find things you are not aware of. It is better to find and repair these issues before the buyer’s inspector does.

Make sure you price it right. Spend the money to get a professional appraisal performed by a HUD approved appraiser. Do not rely on a real estate agent’s market analysis. These are seldom accurate and many times an agent will just blow smoke by telling you what they think you want to hear.

Go sit down with your local mortgage broker. He has a wealth of knowledge you need to take advantage of. Most mortgage brokers have free FSBO programs that will help you immensely. It is important that you know what your costs will be based on the type of loan the buyer acquires. Did you know that a VA loan could cost you much more in closing costs PLUS home repairs that probably are not required by other loans? Will your home qualify for a FHA loan without making very costly repairs? If you are on a tight budget and need every possible dime out of the sale of your home you may want to negotiate in the contract that the buyer gets conventional financing.

A mortgage broker will also teach you the critical areas you need to watch in the sales contract. He may even provide you with blank contracts and other state mandatory disclosures required when you sell your home. Most brokers will even create your home flyer and more important, your financing options flyer. Perspective buyers want to know two things: how much will my payments be, and how much money do I need to pay down plus closing cost.

You should list your home on a “For Sale By Owner” web site. I want to caution you here. A lot of these sites try to charge you a lot of money for things that do not/will not help sell your home. Homebuyers DO NOT spend hours searching “For Sale By Owner” web sites. They work with real estate agents, read the papers, and drive on the streets in the neighborhoods they want to live in.

The advantage you get by listing your home on the Internet is that you put the URL in your newspaper ads, your flyers, and on your yard sign. Then when a buyer drives by your house or sees your ad they can go on the Internet and see pictures, amenities, and the price. If your house fits their needs and their budget, they will call you. If not, it is less of a bother for you. It can be very frustrating to let lookey-loo’s in your home week after week. Don’t you really only want truly interested buyers at your door? There are many free FSBO websites on the net. Check it out.

With all this said, the rest is just common sense. You Can Sell It Yourself!

Disadvantages of ‘For Sale by Owner’

When you want to sell your property by yourself, without taking services of a real estate agent, such a property sale is termed as a ‘For Sale by Owner’ or FSBO property.

Though FSBO has advantages to it, you should also be aware of the many drawbacks that it can entail and this is applicable for both the sellers and the buyers. Let’s take a look at the negative aspect from both aspects.

As A Seller

As someone opting for FSBO, here is a look at things that can be a cause for concern here:

The FSBO property sale property is as such quite cumbersome – While you enjoy the freedom to work by yourself without the interference of a broker, you face an uphill task to sell your property on your own. You need to work a lot to make it possible – the research work, pricing your home, putting ads, screening applicants, conducting open houses, showing the property and so on. This, at all times, seems like heavy burden on your shoulders.

Emotional attachment: You have an emotional attachment with your property and value every small detail about it. This has perils of its own –

1. You tend to over-price the property

2. You tend to describe very minute details of your house to the irritation of the prospective buyer when you are showing your property to the latter.

Also, you find it very difficult to market your house as a product, to speak in that ‘marketing language’ which is required to satisfy buyers.

Lack of market, legal and financial know-how: Being the owner of a property and not a real estate broker, you fall short of the knowledge you need to possess to facilitate a house sale. Not only are you unaware of the market conditions, the prevailing prices, the prices of similar houses in your locality but also all the other legal and financial matters that go along with it.

Time consuming – A lot of information is available to you at the click of a button through the internet, but you don’t have the time to go through the huge web and also get utterly confused with the enormity. All this research work, the task of choosing where to place ads, how to place them, what to write and so on takes a lot of time. Investing that much time is difficult.

Limited exposure – If you avail the services of a real estate broker, your property gets more showings and a greater exposure than if you sell it by yourself.

Higher costs – Although you feel that by selling your home on your own, you can cut down on the costs the real estate broker would take for the purpose, you actually end up spending more! The advertisement costs are huge. Many real estate brokers include the costs in their services; you get it as a package. Also, you incur costs running around for placing ads, opening bank accounts, doing research and so on. Above all, is the cost of losing your peace of mind over the sale!

As A Buyer

You are attracted to an FSBO as in this case you are not required to pay the real estate’s commission. Here is a look at problem issues that you need to be aware of:

Unsure of the ownership: As a potential FSBO buyer, you are not sure about the ownership of the same. The person who has put up the house for sale might only partially own the house and the other owner might not actually be interested in selling it!

Unsure of the price: As FSBO houses are generally over-priced and there is no agent involved, you don’t know the market and are hence you are unaware of the ideal price of the property to help you bargain well.

Unaware of the faults: As the owner is putting his house for sale and values every little bit of it, he/she will not come out with the faults to the prospective buyer. This creates a difficulty as the latter is deprived of the right to know all the aspects before deciding to buy.

Unaware of technical details: The owner of an FSBO home isn’t aware of the exact measurements – the total area, the carpet area, dimensions of each room, section etc. Hence, he/she will not be able to provide you with details on the same!

Bereft of expert advice and help: A real estate owner’s job is facilitating the buying and selling of homes! He comes up with his expert advice from time to time which an FSBO home owner cannot provide! He can think about the property neutrally, without any bias and hence you can value the same. Also, a broker helps the buyer throughout the entire process including interpreting the agreement, handling registration details etc.

For Sale by Owner in Michigan-A Huge Growing Trend That Helps Motivated Home Sellers and Buyers

One of the biggest advantages when you list your home for sale by owner in Michigan is that you know you are going to make the profit, not a real estate agent. The real estate agent can charge up to 6% commission of the total price, which can severely cut into your bottom line.

Although it’s not bad to use a real estate agent, in this soft economy many people are trying to save the money they would have had to pay a real estate agent. And as buyer, why pay more for the property when working with a seller directly gives you more negotiating room to drop the price.

For sale by owner in SE Michigan (Southeast Michigan) is booming we’ve noticed lately, and a quick look at the papers and Internet ads across the entire state shows pretty much the same thing.

Michigan Houses for Sale By Owner

Michigan houses for sale by owner, bottomline, is the preferred way for many people to sell their home in this downward trending housing market.

Selling your own home offers a number of advantages over a traditional real estate listing through an agent. These are the most prominent:

Michigan Houses for Sale by Owner Pros

  • You are in complete control.
  • You set the price and negotiate the closing.
  • You decide when, where and how you will advertise.
  • You control the open houses, showing, etc.
  • As a buyer, you can find Michigan houses for sale by owner at cheaper prices because the middle man (and the fee) is out of the picture.
  • For Sale By Owner or FSBO is advantageous for both buyers and sellers in that it puts them in direct contact with each other.
  • Michigan houses for sale by owner usually means lengthy negotiations are reduced because there’s no more third party. The buyer and seller are in direct contact with each other. Offers are made and accepted or rejected much more quickly.
  • The game of phone tag with an agent waiting to see if an offer has been made or an offer has been accepted is gone.
  • Negotiations are more productive because sellers and potential buyers are motivated to come to agreements on terms.
  • Buyers can get questions answered directly about the property by the party that actually lived in it.

Quick tips for Buyers:

  • Read the local papers for FSBO listings For sale by owner SE Michigan ads are easy to find in major papers and on the Internet. Check mlive.com or subscribe to the Ann Arbor Observer.
  • Do your research about the property. FSBO sellers are required to offer full disclosure on information about the property but just like when dealing with a real estate agent this is not always the case.

    Or let us put you into a home. As investors we have unique programs to get you into a nice michigan home, even if you have poor or damaged credit…in the town you want to live in and at a monthly payment you can afford.

  • Consider a buyer agent or using a real estate investors like us if this is your first purchase to assist with negotiations and legal issues.

For sale by Owner in Michigan

Quick tips for Sellers

  • Do your research. Find out what the market is like for FSBO’s in your specific area. Look at the similar Michigan houses for sale by owner in your neighborhood and similar communities. Check comps on websites like http://www.zillow.com.

    In addition, real estate investors, like us here at Buy-Sell-Michigan-Real-Estate, can also help out home sellers by buying their houses with cash or on terms if they are truly motivated to sell.

  • If you consider for sale by owner in SE Michigan consider hiring a real estate appraiser. Appraisals can be cost effective and will give you professional advice on the market value of your home with a one-time, up front cost. Real estate investors like us are also connected with professionals that can do a good job at determining a property’s fair market value.
  • FSBO listings (in newspapers and on the internet) offer cheap and affordable advertising for your home in a number of venues. FSBO advertising also offers targeted advertising directly towards buyers looking for FSBO properties.
  • Pre-qualify home buyers. Require that potential buyers be pre-approved for loans in the amount required for purchase of your home. Or if you can’t find anyone who can get preapproved, talk to creative real estate investors like us who can get buyers financed for your home if you’re willing to work on terms.

For Sale By Owner Signs – Why They Are a Big Mistake

Every year, thousands of homeowners opt to avoid real estate commissions by listing their homes themselves without a RealtorĀ®. It makes a lot of sense, why pay 6% of the sales price if you don’t have to (especially in a down market like today)? There is nothing wrong with this thought process or the decision to sell for sale by owner. However, the decision to go to a hardware store and buy a cheap white and red For Sale By Owner sign with a place to write in your number with a black marker, actually is a mistake that should be avoided.

Rather than use a For Sale By Owner sign, you should do one of two things. First you can design a custom sign that does not say For Sale By Owner and looks like a real estate company sign, but with your contact information. It does not have to say Realty, Properties, Real Estate or anything like that. It just should not say For Sale By Owner, By Owner, or anything of that nature. It needs to look like a real estate broker sign even if the subdivision name or something else is in the spot where you would normally have the real estate broker name. The second option is, if you are using a flat fee listing company to gain MLS entry, use that broker’s sign with your contact information on it (as long as it doesn’t have the same type of ‘for sale by owner’ slogans or URL’s the cheap signs from the hardware store have). You will benefit from the professional look with the RealtorĀ® logos, while still getting all the drive-by phone calls that any For Sale By Owner using a cheap sign would receive.

Almost any sign company including several real estate sign companies on the Internet can assist you in designing and printing a For Sale sign. It might have a house on it, a snow scene if you live in the mountains or just be professional-looking with stylized fonts in 2 or more colors. You should place an Equal Housing Opportunity logo on it. Make sure it is the standard size metal sign that you see in your area, such as 2′ by 3′, and if possible, have it installed on a wood post or H-frame. Many major cities have sign installation companies that install and remove posts and signs for real estate agents; again this adds to the professional look and feel of the sign.

When your sign ceases to look like a cheap For Sale By Owner sign, you will cease to receive as many agents hassling you about listing your property with them. They are more likely to think you are already listed by an agent since your sign looks like a professional sign. (It is an ethical violation to approach the seller unsolicited and attempt to get a seller to cancel their listing and switch listing agents). Unrepresented buyers are less likely to realize right away that there are no agents involved and ask for a discount based on avoiding commissions. You are also less likely to be approached by scammers who attempt to prey on unrepresented sellers with various schemes like kicking back illegal payments to shill 3rd party companies. Finally, the professional -looking sign will tell prospective buyers that you are serious about selling; you did not just throw a cheap sign up on an overpriced property to see if anyone would pay your above market price.

FSBO Contract – Paperwork Required During Sale of Home by Owner

These days more and more home owners are taking the leap and selling their homes themselves, forgoing the realtor. Is that a good idea? The answer to that is yes. However, there is quite a lot of paperwork involved with doing that. In this article we will review some of the forms you will need when doing a for sale by owner (FSBO) of your home.

The first document you will need to have is the sales contract. This form will contain all of the terms of the deal between you and your buyer. This contract is a legal agreement, so don’t forget ANY of the important details. Of course it will include the purchase price. However; with regards to your protection and the protection of your buyer, it ought to contain a contingency clause as well. A qualifying contingency could be the buyer not being able to secure the financing OR if your home fails its inspection. If your buyer is buying your home “AS IS,” details of this MUST also be incorporated into the sales contract.

The next form you must have is the property disclosure form. In this document any defects your home currently has HAVE to be listed. Quite a few states and countries require this form be used no matter what type of real estate transaction you choose. If you fail to disclose any of these problems with your home to your buyer, you can be legally held liable for damages and have to pay them a lot of money. Do yourself a favor: DO NOT FORGET THE PROPERTY DISCLOSURE FORM!!

Another important document for you to have is an occupancy agreement form. This form will state all of the terms of the moving periods for both you and your buyer. If the buyer intends to move in before the deal is secured, you will also need a pre-occupancy agreement. This is important because once YOU move out of your home the homeowner’s insurance plan most likely will NOT cover you. So if damage is then done to the home and/or you incur losses to it, you will be plain out of luck. So be certain to remember the occupancy and/or pre-occupancy form. A great real estate lawyer should be consulted to make sure you don’t forget anything important relating to this document.

If your home was built prior to 1978 you will also need “lead paint records” in a separate form. This form must fully disclose; with written notice to the buyer, any trace of lead paint that was used when constructing it or to enhance its interior later on. It is a federal law that you MUST have this form. You also are required to supply your buyer with a lead paint information pamphlet that is approved by the EPA. Additionally, the warning form MUST be sign by all people who will be involved in the purchase of your home. Again, it would be wise to consult your attorney to make sure you do everything in accordance with the law. Otherwise there could be dire consequences for you later on.

FSBO Property – Homes for Sale by Owner Listing

Today, halfway 80% of coinage buyers globally affect their travel on FSBO websites. This increases the punch of selling properties faster without having to reaction with realtors or estate agents who charge heavy commissions and brokerage fees. Some of the benefits of selling your property yourself as a seller and an agent/ broker are discussed below. If you are a landlord of the property and desire to sale your house yourself, you have ingeniously simple opportunities to close a sale with up to 6 to 8% commission/ brokerage yourself keeping positive mind. You can have an earning potential of at first off 6 to 8% of the sale value, which would have gone away by estate agents.

It is common that nowadays homeowners much occupy the services of a real estate Makin’s to supply their property. But additional and more relatives are looking at selling their homes directly themselves through for sale by owner sites. Selling properties owing to sale by owner websites is becoming a development trend and is gaining much popularity. FSBO properties are actually the most demanding localities and if you are a house owner, you’re thinking constraint trigger a few thousand money from the sale of your property.You need to check the market trends of the property you are going to buy because a home for sale is always expected to have a lower price than a normal price prevailing in the market. Many websites provides help to consider the right price of a house.

You should even provide photo of your FSBO property as this option is also available on various websites. You should besides provide the phone number; mobile number and email id also should cope each again every mark out or email make-believe to you.

These were a few techniques helpful in selling your FSBO property. In today’s market selling of a property is an immense task. Your strain of selling your house is fabricated easy through various websites. For a sale to be successful, one must offer client a handsome price, be horizontal with market trends and have patience to get it closed successfully.

Disadvantages of For Sale by Owner Transactions

A property owner may have a vast amount of information about his or her home’s specifications. However, knowing about one’s property and closing a deal are two completely different things. Many homeowners falsely believe that For Sale by Owner transactions are the best option. They may choose these kinds of transactions in order to maximize profits, to minimize expenses, or because they think it will be easier.

It is statistically proven that the vast majority of houses in Laval were sold with the assistance of a professional real estate broker generate more significant profits. These profits are usually more than sufficient to cover commissions and pocket additional money. The National Association of Realtors declared in their 2013 Profile that “For Sale by Owner (FSBO) transactions accounted for 9% of home sales. The typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales, a difference of $46,000 – or an addition $32,200 after agent commissions.”

For sale by owner

Disadvantages of For Sale by Owner Transactions

There are many disadvantages to not working with a professional real estate broker. Here are a few to consider.

Buyers working with brokers will sometimes avoid placing offers on For Sale by Owner homes, which narrows the pool of potential buyers.

Most For Sale by Owner success stories involve buyers and sellers that previously knew each other.

Homes for sale by owners stay on the market an average of eight weeks longer than those listed with a broker.

Dealing with unqualified buyers can tie up homes for weeks, which could cost you the attention of viable potential buyers.

Buyers don’t usually pay commissions for a broker’s service, advice and insurance protections. Many buyers hesitate to purchase without insurance protection unless they get a great deal. This contradicts the For Sale by Owner goal of profiting more by saving on commissions.

The Advantages of Employing a Broker

Brokers have access to market data, are aware of the latest transactions performed in the community, and they collaborate with homeowners eagerly seeking to sell comparable properties also on the market.

They can be sure to price your home accurately. Market analyses have repeatedly demonstrated that homes priced correctly when first listed not only sell faster but also secure higher profit than those that are not.

It is the broker’s duty to take care of your business even if you are not present. He or she can show your home when you’re not available, is always ready to answer phone calls from potential buyers and their agents, and can provide you with valuable feedback.

Brokers have the experience to objectively evaluate and assess the condition of your home. They may even propose means to improve and emphasize its worth, suggesting tasks such as minor renovations, cleaning and staging.

With For Sale by Owner transactions, the seller must be present for all showings, which can make prospective buyers uncomfortable. Working with a broker allows prospective buyers to relax and visualize themselves in the home without the pressure of the homeowner hovering over them.

Brokers have widespread marketing experience as well as associations with other brokers.

Being experienced negotiators, brokers can obtain the right price for your home.

They’ll guide you through all the paperwork, ensuring your compliance with regulations. They will also see to it that all timelines are prudently met, including home inspections, appraisals, surveys, lending deadlines, and closing.

Do You Know What For Sale By Owner Means?

Nowadays everyone has seen the signs in the front yard that say "For Sale By Owner," but what does this really mean? Is it going to be a legally correct deal for both parties? Does it really save money? The answer to both of these questions is, yes, but it does require a little bit more work from everyone involved.

For Sale By Owner means simply that there is not going to be a Realtor involved in the process. The owner will handle everything directly from showing to negotiations. There is a range of about 10-20 percent of homes sold with a FSBO sale and the number goes up and down from year to year.

Why Would You Sell With A For Sale By Owner (FSBO)?

From the sellers point of view the cost involved with selling this way are greatly reduced. When you deal with a real estate agent the commission cost alone can be between 5-7% of the final sale price of the house. As an example, if you had a home selling for 200K at 5% commission it would be $10,000 in commission fees. If the seller is able to sell their home without the use of a Realtor they would save all of that money.

Why Buy A FSBO Home?

From the buyers point of view the process of buying is much the same as long as you are an informed buyer and know what is a good deal and what is not. The one big benefit is that you have direct communication with the person selling the home. Because there is no middle man involved you can call the seller directly without having to deal with a real estate agent as a go-between. This means that buying this way can often take less time then if there is an agent involved.

Things To Think About

For everyone involved it is good to have a team of people helping with the sale even if no agent is directly responsible. Having a real estate lawyer on your side can help a great deal and will typically only cost a couple hundred dollars, but it will be some of the best money you spend in the entire process.

Another thing to keep in mind is the price. As a seller it is easy for you to overprice your house to get the greatest profit on the sale of your home. For the buyer you have to remember that you will have to do more work yourself because there is no one guiding the process. For both parties it is important to ensure that you have done your homework on the local markets and ensured that you have the correct price on your home. Getting a valuation report can help the process and ensure that you are setting a good price for your home that will be competitive with the rest of the market.

Resources

As of late there has been a lot of information put out about how to deal with the ins and outs of this type of deal. Sites like ForSaleByOwner.com and Zillow.com have a huge list of different FSBO homes and tips and advice to make the process easier. Going to library or other book store will show you that there are a lot of books on the subject as well. Buying and selling a home is one of the biggest financial transactions of most peoples lives but it does not require a real estate agent if you are willing to do some more of the work yourself.