For Sale By Owner Home Selling Made Easy
7 Steps to Successfully Selling Your Home For Sale By Owner
Selling a home For Sale By Owner (FSBO - pronounced fizz bow) is one of the most rewarding and empowering experiences a home owner can enjoy. Not many things compare to the satisfaction of accomplishing a sale on your own, not to mention the fact that you'll save thousands of dollars in real estate commissions from your home's equity! However, it takes careful planning and insight into the real estate transaction process to successfully sell on your own for the highest possible price in the least amount of time.Transaction Broker Real Estate Contract Preparation
Thousands of home owners all across the country sell their homes For Sale By Owner every year. The following is an brief outline of what you can do to successfully sell your home on your own:
Step 1. Being prepared to sell For Sale By Owner means doing your "Home Work"
Before you put your home on the market For Sale By Owner their are 2 key tasks that must be accomplished. 1) Preparing Your Home to Sell and 2) Pricing Your Home to Sell.
Preparing Your For Sale By Owner Home To Sell
As a For Sale By Owner, in order to obtain top dollar for your home, it is important to have your home in top "showing condition". That means completing any unfinished or needed home improvement projects and removing everything from the home that creates clutter. You'll be competing with other homes in your area for potential buyers, so make sure that your home stands out from the crowd by making it easy for buyers see the house and to picture themselves living there.
Noone wants to come into someone else's mess and unless you are prepared to sell your home for far below market value, you may need to do some minor upgrading to your home with new carpet or paint. Give yourself the best chance of attracting potential buyers by spending at least a weekend or two attending to the items that need attention before putting your home on the market. You may also want to have an objective person or professional take a look at your home to tell you how well your home shows. (More information on Preparing Your Home for Sale.)
Pricing Your For Sale By Owner Home To Sell
The most important factor in selling a home is pricing. It's been said that 80% of marketing a home is pricing. Priced correctly, your home may even sell for more than the asking price! Priced incorrectly, your home could sit on the market for weeks, months or even a year or longer.
In order to price your home correctly, you'll need to know what other homes in your area are selling for and what differences or amentiies these homes have in common with yours. The best way to determine market value is to have an appraisal of the property performed by a licensed appraiser in your area. Appraisers offer an objective, third party analysis of your home's value by using standardized methods.
If your home is similar to other homes in your area, you may be able to get a pretty good idea of a most probable selling price by getting an online appraisal or valuation. (More information on pricing your home to sell.)