Jul

Homes For Sale By Owner - Getting The Price You Want

1. Price It Right. Not Too Low, Not Too High.

Correctly setting your asking price is critical. Setting your price too high can be as costly as setting it too low.

Home prices are set by fluctuations in the marketplace, not by your emotional fondness or by what you deem your home is worth.

In order to establish a realistic price for your home, objectively compare the price, features and condition of all similar homes in both your neighbourhood and other comparable ones, which have sold over recent months. You can do this by reviewing your local, regional or national real estate listings.

It is also valuable for you to be au fait with the terms of each potential sale. Terms are often as important as price in today’s marketplace.

2. Make A Great First Impression With The Presentation Of Your Home.

The initial impression is critical. Keep your home clean. Ensure your home makes a positive first impression by carefully inspecting all details and viewing it through the objective eyes of a buyer.

Don’t disregard needed repairs because your prospective buyers emphatically won’t.

Your task is to be sure that your home stands out favourably from the competition.

3. Be Ready With All The Essential Legal Documents.

Surprisingly it’s quite easy and you can do it yourself. You should get all the pertinent papers together but all you really need is an “Offer to Purchase” agreement in which you and the prospective buyer confirm the price and conditions. You both sign the agreement and each party takes a copy to their lawyer to finalize and close the sale.

Some legal forms that you could need include: Real Property Report, Property Profile Fact Sheet, Seller Disclosure, Seller’s Statement of Representation, Personal Property Exclusion List, Purchase and Sale Contract, Deposit Receipt, Mortgage Verification, Loan Application, Buyer’s Cost Sheet, Closing and Settlement. Your lawyer will take care of most of these.

4. Have A Plan To Market Your Home Effectively.

List your home on the internet with a site such as GoByOwners.com where home owners can list their home for sale AT NO COST.

Homes For Sale By Owner

Also you should find other methods let it be known your home is now on the market.

Local prospects can be reached through the newspaper. Be sure you also reach out to many home buyers who could already be working with a realtor.

You may want to cooperate with a realtor and offer them one or two thousand dollars if they bring you a buyer. If you choose to sign a contract with a realtor (they may tell you they have genuine buyers), make sure you get an unconditional release clause written into the contract.

Once it’s listed there, you can print information sheets about your home from the GoByOwners.com site.

Be very flexible and service-oriented towards pre-qualified buyers. Make it easy for them to view your home at a time that suits them.

Ensure there is always someone appropriate available to answer the phone. Collect your messages often during the sale time and respond to them quickly. Then be prepared to give qualified prospects a tour of your home as soon as possible.

Talking about the telephone, you probably don’t want your 5 year old (or your babysitter) answering the phone and turning a genuine prospect off.

5. Remain Professional and Objective During Home Inspections.

Don’t let your personal attachment or emotion get in the way of successfully selling your house. The best way to do this during a home inspection is to remain physically in the background, out of the way. A prospective buyer might say something negative about your home, such as “it’s smaller than I expected, or the carpet is a bit tatty, or we’d have to change those curtains, etc”). When they do, instead of getting hurt and defensive, it is better to point out the positives of your home. Just like a professional real estate agent would do.

Home Sale By Owners
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