Let’s face it, selling a home on your own may be tedious and time consuming. The tasks you need to do are extensive and the financial as well as legal aspects you have to consider are varied. But there’s no need to be anxious. Just take on the challenge and with focus, dedication and the right knowledge, you can definitely do it by yourself. Experts say that home sellers who succeed are those who actively take part in the selling process whether on their own or with the help of an agent.
Home selling by yourself has its own rewards. Since you are on your own, you can surely save a lot of money from around $4,000 to $12,000 or even more in expenses. The most important edge here is that you won’t have to pay the required six or seven percent brokerage fee or commission as all the proceeds of your sale will go directly to you. You are in control of the transaction hence, you can avoid the mistakes made by other agents. You can even sell your home fast and easy because you can set a more aggressive price for prospective buyers. You can lower your price anytime you want to attract more buyers. If, in case, your equity is low, you may not need to write a check in order to sell your home. Another advantage of self-selling is your availability anytime to accommodate potential buyers who wish to have an ocular inspection of your house. Also, you have the opportunity to reply instantly to telephone inquiries.
On the contrary, there are some disadvantages that you need to take into account when selling on your own. The first thing you have to understand is the fact that you will have to shoulder by yourself all the costs of marketing and advertising. There are some web sites, though, that can help you in your marketing needs the more practical way. You will also have to manage all the paperwork and legal forms required. You will do all the legwork and therefore, you must depend on your instincts. Another responsibility you will have to face concerns severing emotional attachment with your house as you are doing everything on your own.
We share with you some tips to help you sell your home with great success. Your priority should be to prepare your home for showing to potential buyers. Keep in mind that you have many competitors in your area so do your very best to clean and organize your home before putting up that “for sale” sign on your front yard.
Information on disclosures should be factual since it is a legal requirement. Not revealing the real details and not using the proper form may end up in a legal suit from a buyer.
Advertise and market your home aggressively. Make your house shine from all the others in your area. You can advertise in a lot of ways – via your local newspaper, email, listing sites that offer free services, brochures and of course, by word of mouth.
Study and research well on the selling process including the forms required as early as possible. Know the housing laws and the current market condition in your area. Getting all the information on this important financial transaction is a good step towards a successful home sale.
Consult your lawyer and financial advisor to guide you on the legal and financial aspects of the transaction.
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