THE ULTIMATE HOMEOWNERS FSBO GUIDE
SELL YOUR HOME WITH ZERO COST AND NO HASSLE
"I've decided to sell my home, now what?"
"why pay someone to sell my house when i can do it myself?"
"But where do i start...?"
If you are like 12% of all home sellers, you too might believe that the best option is to sell your home yourself as a For Sale By Owner. Well, you're right! In today's marketplace, we have never seen a more welcoming time for the first time Home Seller to successfully navigate the marketplace and come out on top with a closed transaction. However, the biggest obstacles faced by Today's For Sale By Owner are the inefficiencies in creating a market frenzy on their home, not using multiple offers coming in to their advantage and ultimately leaving sizable amounts of cash on the closing table. Thankfully, those days are over! This guide is here to help direct you into optimizing your selling process and gaining the most out of your hard earned equity at the end of your sale!
24-Hour talking sign
Remove the hassle and harassment from agents and suitors. Pre-Record all information on your Home automatically!
Before Listing Your Home, Use This "3 Step Checklist" to Optimize Your Selling Experience.
(Full 27 Valuable Tips found at bottom of page)
Understand Why You Are Selling Your Home. Your Motivation to sell is the determining factor as how you will approach the process. It affects everything from what you set your asking price to how much time, money and effort you're willing to invest in order to prepare your home for sale. For example, if your goal is for a quick sale, this would determine one approach. If you want to maximize profit, the sales process might take longer thus determining a different approach.
Keep the Reasons You are Selling to Yourself. The Reason(s) you are selling your home will affect the way you negotiate its sale. By keeping this to yourself you don't provide ammunition to your prospective buyers. For example, should they learn that you must move quickly, you could be placed at a disadvantage in the negotiation process. When asked, simply say that your housing needs have changed. Remember the reason(s) you are selling is only for you to know.
Before Setting a Price- Do Your Homework. When you set your price, you make buyers aware of they absolute maximum they have to pay for your home. As a seller, you will want to get a selling price as close to or above the listing price as possible. If you start out by pricing too high, you run the risk of not being taken seriously by buyers and their agents and pricing too low can result in selling for much less than you were hoping for. If you live in a subdivision where homes are comprised of similar or identical floor plans, built in the same period, simply look at recent sales in your neighborhood to give you a good understanding what your home is worth. If you live in an older neighborhood where homes might be different in major or substantial ways, you may find that many homes are not comparable directly to yours. In this case, you may want to consider seeking a Realtor to help you with the pricing process. Remember, this does not commit or obligate you to using their services and will not cost you anything. When looking at comparable home sales, focus on homes that have sold in the last 6 months, including those now on market. This is how prospective buyers will assess the worth of your home.
With access to modern day technology and powerhouse sites such as ZIllow, Redfin, Realtor.com, Trulia, etc; getting access to information on real time information within the marketplace has never been easier. With a few clicks of the mouse, you have access to neighborhood specific zip code maps, home value estimates and are ready to build the marketing for your home. This is an incredible place to start and will be a key component in your selling process. However, strictly utilizing these websites and taking the information for face value may be doing yourself a disservice. Although these websites can be highly accurate, they are not always perfect. Continue to dig deeper in your own research looking for what similar homes to yours have sold for in your immediate area. Pay close attention to the amount of homes available on market, what they are selling for and understand that the timing in which you decide to launch your home coupled with your personal motivations can determine whether you take with you or lose tens of thousands of dollars at the negotiations table.
Marketing Your Home
When Deciding Where and How To Market Your Home, Use This List to Reach The Best Qualified Buyers.
Appearances Do Matter- Make Them Count! Appearance is so critical that it would be unwise to ignore this when selling your home. The look and "feel" of your home will generate a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel and smell even though you may have priced your home to sell.
Allow Prospective Buyers to Visualize Themselves in Your Home. The last thing that you want prospective buyers to when viewing your home is that they may be intruding into someone's life. Avoid clutter such as too many knick-knacks, etc. Decorate in neutral colors, like white or beige and place a few carefully chosen items to add warmth and character. You can enhance the attractiveness of your home with a well placed vase of flowers or potpourri in the bathroom. Home-Decor magazines are great for tips.
Control The Flow of Prospective Buyers Into Your Home. If at all possible, only leave limited windows available to view your home. Do not allow anybody to enter your home for showings at any given time. Set aside blocks of time on certain days and do not deviate from them when showing your home. If you can control the amount of people entering your home at any given moment, you will create demand by funneling prospective buyers through your home at the same time creating competition.
Control and Automate The Flow of Information Available On Your Home. Instead of having drive by strangers coming up to your door, countless Real Estate agents harassing you on the home or curious neighbors wanting to take a look, create a system that automatically records the information you want to share about your property and keeps it readily available 24 hours of the day to anyone who calls. Set up your 24 Hour Talking sign that links directly to your own personal 1-800 number to provide direct information and follow up with prospective buyer. Inquire more on the link below to get your own no cost, no obligation 24 Hour Talking sign.
Not all people who come and express interest in your home are going to be the right home buyers for your property, and that is okay. Although you want to focus on getting the highest percentage of ready to go, qualified buyers into your property, the less qualified buyers or onlookers will help create a higher sense of demand on your home. Let's imagine you are able to fill your home with 10 prospective people at a time; even if there is only one highly qualified buyer who is right for you, the perceived presence of demand created by filling your home will result in that one buyer writing a stronger initial offer in response to potential competition in the marketplace.
24 hour talking sign
Remove the hassle and harassment from agents and suitors. Pre-Record all information on your Home automatically!
In Preparation to Receive Offers, Use This Checklist to Set The Table For Negotiations.
It's Better With More Prospects. When you maximize your homes marketability, you will most likely attract more than one prospective buyer. It is much better to have several buyers because they will compete with each other. A single buyer will end up competing with you.
Keep Emotions in Check During Negotiations. Let go of the emotion you've invested in your home. Be detached. Using a business-like manner in your negotiations, you'll definitely have an advantage over those who get caught up emotionally in the situation.
Learn Why Your Buyer is Motivated and What They Can Really Pay. The better you know your buyers, the better you can use the negotiation process to your advantage. This allows you to control the pace and duration of the process. By default, buyers are looking to purchase the most amount of property for the least amount of money. Knowing what motivates them enables you to negotiate from a stronger position. As soon as possible, try to learn about your prospective clients financing and capability. This includes the amount of mortgage the buyer is qualified to carry and how much their down payment is. If their offer is low, ask their Realtor about the buyer's ability to pay what your home is worth.
A Low Offer- Don't Take It Personal and Turn It To Your Advantage. Invariably, the initial offer is below what both you and the buyer knows they'll pay for your property. Don't be upset, evaluate the offer objectively and use it to your advantage. Ensure it spells out the offering price, sufficient deposit, amount of down payment and financing along with closing date and any special requests. This can simply serve as the starting point to negotiations. The magic happens when you turn that low offer around by countering to terms that are in favor of your own or even better, countering multiple potential buyers simultaneously making them compete amongst each other for your home resulting in a higher end purchase price.
The more people you can get coming into your home, submitting offers and meeting you at the negotiating table, the higher you can expect your final sales price to become. When multiple prospective buyers are competing amongst themselves to get into your home, you are pushing greater demand. With greater demand, comes greater value resulting in the highest imaginable purchase price. Remember, the only person at the negotiating table who holds all of the information is YOU! The buyers do not know what the other persons involved capabilities are and will more often than not have to come with their "Highest and Best" offers while you dive into multiple counter situations.
What To Expect At The Close of Escrow, Use This Checklist to Finish Your Transaction.
Ensure the Contract is Complete. To avoid problems, ensure that all terms, costs and responsibilities are spelled out in the contract of the sale. It should include such items as the date it was made, names of parties involved, address of property being sold, purchase price, where deposit monies will be held, dat for loan approval, date and place of closing, type of deed, including any contingencies that remain to be settled and what personal property is included (or not) in the sale.
Resist Deviating From the Contract. For example, if the buyer requests a move in prior to closing, just say no. That you've been advised against it. Now is not the time to take any chances of the deal falling through.
Follow Through on All Agreed Upon Line Items. Remember, you have signed contracts to protect the flow of the transaction. As a seller, you are legally committed to following through on the signed contracts you have set forth. Always ensure to protect yourself, follow through with designated agreement points and time tables, and close your deal!
Congratulations! You did it! You successfully marketed your home, received multiple offers and were able to expertly negotiate through multiple counters to get the highest price at the best terms for your home! You were able to name your terms and accept your offer now it is time to follow through on all of the negotiated line items. You've made it this far by creating your plan and sticking to it and now it is time to see it through the finish line. Make sure your escrow accounts to transfer the funs, title company is in place to transfer and record the transaction and your replacement housing is in place prior to final close of escrow date.