Putting your home up for sale brings many questions – should you hire an agent? What things are absolutely necessary to fix before you sell? Can you sell your home on your own? If you decide to sell by owner, there are certain things you should know about the process before diving in headfirst.
Getting the legal stuff right – one of the most vital aspects of selling your own home is making sure that all your bases are covered, legally speaking. It’s a good idea to hire a real estate attorney to help you handle the documentation, or at least to get a consultation. Thereare many regulations and laws regarding disclosure and other issues, and you want to minimize your liability by making sure everything is in order.
Understanding the time commitment – many people decide to sell by owner without realizing how much time it actually takes to not only prepare their home, but communicate with potential buyers or their agents, be at the house for showings, and deal with meetings and paperwork. You will need to be able to respond quickly, because a slow response time can quickly drive buyers away.
Marketing effectively – you will be solely responsible for all of the marketing involved in selling your house when you sell by owner. This will involve a multi-directional strategy that utilizes signs, the Internet, and networking.
If the idea of trying your hand at sell by owner seems overwhelming, consider selling to a real estate investor. You’ll save time, headaches, and have cash in hand much more quickly.