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Bypass The Realtor, Sell It Yourself !
Tuesday, July 19, 2011
You've made the decision and announce to friends, "I'm going to sell my house
". The first thought is to retain a realtor. However, it's possible to do it all on your own and save yourself the price of a commission.
Should you consider wading into the murky waters of a FISBO, or for sale by owner, there are steps you should make in preparation.
For starters, you need to prepare your home for the market. Remember that the appearance of your home will create a first impression, and most prospective buyers will be hard pressed to overcome any negative thoughts incurred during their first viewing. Your home should be absolutely free of clutter, immaculate in its cleanliness, with clean carpeting and freshly cleaned or painted walls. Anything in disrepair should be removed from that state. Broken drawers, chipped tiles, scuffed flooring, etc. will stand out. Don't forget the outside landscaping, either. For many, the outer appearance of a home is just as important as the interior.
Remember, however, that you should simply upgrade what you already have to look as good as it can. As an example, there is no need to spend money to replace a perfectly good kitchen floor that you feel looks dated. Taste in design is subjective, and you have no way of knowing what your buyer has in mind. You may have spent money for nothing if they have their own kitchen plans and might tear out what you just put in. Simply make the house look as presentable as possible, and allow the buyer to envision the home as he or she may see fit.
So now your house is ready and it's time to put it on the market. Your next step is finding your price. You can do it yourself with research, looking at similar homes in nearby neighborhoods. Check local listings to see what homes are going for and how long they've been on the market. Your local newspaper will list home sales so you can see what homes have been purchased at what price.
You may consider having a professional appraisal done to get a more accurate reflection on the value of your home. The appraisal will be moderately expensive, but it might be money well spent. Although you will probably come up with a similar price that the appraiser will give you, understand that at some point an appraisal will have to be done per the lenders request. There could be future problems if your price significantly differs from what the appraisal turns up.
Once you've come upon your price, it's time to start the marketing. Your local newspaper is always a good source, as well as an inexpensive one. Most home buyers will do the bulk of their window shopping online, however. Look into a web source that will list your home for you, and supply flattering photos that show your home in the best possible light.
So, you've told yourself, "I'm going to sell my house , and I'm going to do it by myself". It's not that hard, if you are thorough in your preparation and follow these simple pointers.