Selling A Home Privately

Knowhow-Now Article

Selling A Home Privately

When you chose to sell your home privately (without the help of a real estate agent), most likely it’s because you wanted to save some money. A research shows that selling a home privately can save as much as $9000 during the home selling process. Don’t let this fact sway you, though. A qualified real estate agent costs a lot because they have experience in the market and is more likely to give you a more secure price of your home. An agent also wins in network; being able to reach people who’s looking for a house, or can help selling one.

Tip: When investing in properties, doing a complete home remodel only makes sense if the home is unusable in its current condition. As you gain experience in property investments, you will understand that spending excessive amounts of money and time on remodels just doesn't pay off.

Selling a home privately will also affect the marketing process. If you sell your home without the help of an agent, it’s not likely that you’ll have access to Multiple Listing Services – a database full of house listings given out to homebuyers. You might need to get the buyers in some other way, like holding an open house or putting an advertisement on local newspaper.

Tip: In certain areas homes sales are higher during more favorable seasons. Using fall decorations can help create a welcoming environment to potential buyers.

Furthermore, when a buyer sees that you are selling your home privately, they will offer a lower price, because they knew you’re already saving money from not hiring an agent.

Tip: Liven up your bathroom to make it shine if you are showing your house for sale. New lighting and fixtures can greatly increase the appearance for minimal expense.

On the other hand, it is understandable that some people can not trust other people to sell their home. Selling your home privately means being in total control of the transaction. You know that you will always be available for questions or home showings. Whenever you made a mistake, it’s yours and only yours to blame (trust me, a mistake that costs you nothing would still feel better than an expensive one).

Tip: When painting your home's interior prior to putting it on the market, don't choose a color simply because you like it. Go for neutral colors and shades such as taupe, white or eggshell, ones that will blend with any furniture or decor.

When you’re sure that selling your home privately is the way to go, there are some extra preparations you need to do. Take extra measures in preparing your house. Remember that you’ll be competing with professional agents and their clients’ houses – make sure you have a chance to stand out! Find websites that provides a “selling by owner” kit. Get as maximum exposure as possible.

Tip: When preparing your home for the market, you might want to consider adding some energy efficient features. Installing LED and solar-powered lighting systems, along with Energy Star appliances will increase interest in your property, as prospective buyers will see the potential energy savings they could realize by living in the house.

You also need to get educated in legal requirements and contract making. This will take some time, so get help from an attorney and start researching way behind your selling date.

Selling a home privately is a tricky business. Some say that you’re able to sell your own house if you have three free hours every day of the week. With a little bit of work, you’ll manage to put that much-needed money to better use.

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