Any suggestions on selling your own home quickly?
My family and I will be moving to another state because of job transfer. I have worked very hard to update the home. I am a stay-at-home mom, so loosing that typical 6% commission
to an agent is money my family could diffently use for education expenses. I think I can do this but don't really know what is envolved. Thanks.
- Roland'sMommyLv 61 decade agoBest Answer
If you need to sell quickly, going through an agent is usually the best route. You add the 6% to your selling price, so you're not losing any money. They have more resources available than you do & can get other realtors on their side faster than you can.
If you're looking to do this yourself, post daily on craigslist, there's helpusell, they charge a flat rate, it's a lot less money and they provide you some help. I think websites like backpage also offer free classifieds.
Do some online searches for tips on selling your house for top dollar and also search for websites that post listings, websites like fsbo.com (for sale by owner). It'll be a lot of work though. AND if you find a buyer, they may still have an agent & you have to pay that 3% unless you get it in writing that you're increasing the asking price to make up for it.
Have you considered a lease option? You collect 2 to 3 months worth or rent up front to keep as a deposit in case they destroy the place. Then they rent it with the option of buying after a year or two. At least then you'd have your mortgage paid. You agree on a potential selling price in advance. They either buy it after the lease is up and get their deposit back, or they don't buy it & you get to use their deposit to pay for any damages that exist, giving the rest back to them.
You could also do a month to month rental situation while your hosue is on the market. Then of course, you don't know they're going to be taking care of it.
- 1 decade ago
First, let me say that many sellers have success selling on their own, although most are not under a time frame as you mentioned. And no question about it, the commissions are the single largest selling expense a seller normally pays.
Now, you'll have several hurdles to overcome. The first is proper pricing based on what your home has to offer.
Second, is exposure. Getting the word out to the buying public will be difficult unless you have a web page that has regular submissions to search engines, etc. FSBO.com and other internet sites may be helpful in that regard. If you're under a tight time frame to sell, you may want to consider cooperating (ie. paying) a buyer's agent to bring you a buyer.
Third, you'll need to make yourself available to show the home with 30 to 60 minutes notice. You'll need to prequalify those persons who wish to view your home.....otherwise you'll have neighbors walking across your freshly cleaned carpets just so they can get decorating ideas. Just make a checklist of a few questions....."Have you been approved for a loan and can you provide us a preapproval letter" and "Can you tell me what you're looking for so I can save you a trip if our home doesn't meet those needs", etc. A few questions up front will save loads of time on the back side.
Fourth....study up on real estate contracts or contact a real estate attorney to use when you get an offer so he can reduce everything to writing. Get all your ducks in a row as far as your asking price, your bottom line sale price, what stays with the home, etc. so you don't have surprises as the administration of the contract proceeds.
This a very narrow description of things to consider, but planning ahead is of the utmost importance or you could be left holding two mortages (or rent plus your current mortgage) if your home doesn't sell in the necessary time frame.
Best of luck!
- frankie bLv 51 decade ago
Not to sound like a jerk, but if you do not know where to start hire a Realtor. The national average is Realtor get 15% more than a for sale by owner due to the buyer pool they have access to. 80 % of the buyers are either working with a realtor, or searching on sites like realtor.com. Obviously your home will not be there, so you are cutting out most of the qualified buyers looking. People think if they put a sign in the gound, and a newspaper ad it will sell. False, most people are searching on line now adays, and craigslist just isnt going to get it done. Hire a professional, and you will get the results you desire. I wish you luck.
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- RoxanneLv 44 years ago
If you sell right now you are probably very close to the bottom. There may be a spring back in price off the bottom. Not sudden like an equity, but gradual. If you attempt to do what you are trying it could cost you a bit. It would be wiser to be in realestate and not renting as we come gradually off the bottom, at least not renting for a long time. To ease your landlord burden, I am too a lanlord so I understand, possibly hand your property over to a management company. I know some people that have done this and are happy. Also, as long as you are involved in the tenant selection you can still depreciate the property off personal income and are not considered "passive" for tax purposes. Also, thanks for the answer to my question earlier. You were very helpful.
- BiancoaLv 41 decade ago
Depending on how fast you mean, a very fast way would to do a real estate auction. Did your husband check with his new company if they cover relocation expenses? Depending on the company, they will covering the closing costs ( including the realtor).
If you don't have time, now is not the time to try to learn how to sell real estate. Also, depending on your market, it might not be as fast as you want it. It's best to call an agent.
- Anonymous1 decade ago