Home Sale By Owners – Success Strategies
1. Price It Right. Not Too High, Not Too Low.
Setting your asking price in line with existing market conditions where you live is extremely important. Setting your price too high can be as costly as setting it too low.
House prices are the result of variations in the marketplace, not by your emotional fondness or by what you believe your home is worth.
In order to establish a genuine price for your home, objectively compare the price, features and condition of all similar houses in both your neighbourhood and other comparable ones, which have sold over the past few months. You can do this by reviewing your local, regional or national real estate listings.
It is also important for you to be familiar with the terms of each prospective 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 opening impression is vital. Keep your home clean. Be sure your home makes a positive statement by sensibly inspecting all details and viewing it through the objective eyes of a buyer.
Don’t gloss over needed repairs because your prospective buyers surely won’t.
Your goal is to ensure that your home stands out favourably from the competition.
3. Be Ready With All The Needed Legal Documents.
Surprisingly it’s quite simple and you can do it yourself. You should get all the applicable documents together but all you really need is an “Offer to Purchase” document in which you and the prospective buyer negotiate the price and conditions. You both sign the agreement and each party takes a copy to their lawyer to complete and close the sale.
Some legal forms that you may well 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 handle 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.
Also you should also use other strategies let it be known your home is now on the market.
Local home buyers can be reached through the newspaper. Be sure you also reach out to many prospects 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 decide 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 agreement.
Once it’s listed there, you can print information sheets about your home from the GoByOwners.com site.
Be very accommodating 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 suitable available to pick up the phone. Collect your messages often during the sale time and respond to them without delay. Then be ready 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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