* Preparing your property for sale. Cleaning, making repairs, de-cluttering, and "staging" just like a builder's model home.
* Putting together your FSBO Team which includes a Realtor®, your attorney, Inspectors, repairmen, and Loan officer, and your family.
* Learning the process of selling your house including setting the price, getting it ready, marketing, completing the sale.
* Learning the terms of real estate, so that you know what is being talked about by agents, lenders and attorneys.
* Doing the research and preparing answers for those questions buyers will ask about your house. Create that folder with all the information and keep it close at hand preferably near the phone.
* Making your house available to potential buyers 24/7. When buyers are looking they are out at all times of the day driving around areas where they want to live. You can control your showing schedule. Make a calendar and block out all of your personal days and committments so you know when you can be available to show the house. Keep this calendar by the phone and one with you.
* Prepare yourself to be objective about the value of your house and decide upfront what you are willing to accept. Complete the seller's net worksheet and don't forget to include the estimate of your cost of sale (expenses associated with the sale such as advertising, printing flyers, mailing out invitations to open houses and announcements house going on the market, repairs, even keep account of monies spent on refurbishing the house for the sale.)
* Setting up an appointment schedule of times you are willing to show the house and being available when buyers want to see it. I mentioned this above and it is best done on a calendar. By highlighting all those days and times you know you have prior committments or want as family days you will know in an instant what to offer a potential buyer as a day and time for a showing.
* Keeping the house in a condition that is ready to show on Short Notice. When a house is For Sale By Owner a Potential Buyer may Just knock on your door to see the house. (this is usually a very Interested and motivated buyer, think carefully before turning them away).
You will be opening your home to strangers for showings, just like Realtors® you need to make the opportunity to prequalify the buyer. The prequalification process has two ends the first being to make sure they can qualify for the loan and afford your house and the second is to make sure they are legitimate buyer's.
When making the appointment don’t be afraid to ask questions, find out if they are pre-qualified by a Mortgage lender, ask for their full name, address and phone number and write it down. Find out where they work, and what they are looking for in a new home. When they show up for the Showing ask for their driver’s license match it to the information they have given you and hold it until they finish looking at the house and then return it. A real buyer will not feel offended, Apartment Complexes do this all the time. The buyer is looking for a home and they understand your need for safety.
Writing and Negotiating the terms of the contract with the buyer. Protecting yourself with provisions and contingencies if necessary. Making sure all the steps are followed by yourself and the buyer from execution of the contract right through to Settlement/Closing.
If you and your family are willing to commit to this must do list above then you are definitely ready to sell your house yourself and this website is here to help to guide you through the process.
Know your talents, Know your strengths, and get support for those talents you lack........
Let’s roll up our sleeves and get started. . .
To help you find the information you need
for selling your HOUSE:
Here are quick links and more detailed explanations of a few of the navigation bar buttons
GATHERING INFORMATION YOU NEED TO SELL THIS HOUSE.
It’s a good idea to get together the paperwork from your closing on this house. It has your settlement statement, a copy of your deed, and a copy of your deed of trust. It may also include your plat and the appraisal. If you don’t have your deed, deed of trust, or plat you can get copies at your Circuit Court Clerks Office where the deeds are recorded. Also now is a good time to go online to the tax assessors office and pull records on your house and houses in your neighborhood for your CMA market analysis. Also you can pull owners names and addresses from your neighborhood to send post cards announcing your intention to sell the house and asking if they know anyone, family, friends, co-workers who might be interested in buying it.
If you are purchasing a new home in the area you may want to use a Realtor®. Now is the time to interview at least 4 prospective Realtors®.
As part of the interview process each Realtor® will give you their opinion on the fair market value of your house and this will help you when you are preparing your CMA. Tell all the Realtors® up front that you plan to sell your house yourself and let the Realtor® you select know that if you decide to list then it would be with them.
You will also want to find a Real Estate Attorney if you do not already have a family attorney. You will have storage and moving needs, now is the time to contact and arrange for outside storage and a mover. And don’t forget a Lender. The buyer if not represented may need some help in finding financing and you can refer them to your lender. This can work very well for you because you will already have an established rapport and can easily call to get updates during the pre-closing process.
Included is a list of contractors you should select for inspections and repairs. Creating your team at the beginning will prevent you from scrambling at the last minute and ending up with someone not as capable as you had hoped. This allows you the time to get referrals, interview, get references and follow up. This is an advantage a Realtor® has over the home owner because they do this everyday they have already established a reliable support team they can call on when needed and that team member already has a proven track record.
SETTING THE PRICE
Establishing house values.
I’ll discuss how to check for recently sold properties closed and currently on the market houses in your area for your CMA to establish fair market value. You may get some input from the Realtor® you have selected to help you find your new home. You’ll also look up your tax records to get legal description and assessment. We’ll figure out your equity so and complete a Seller’s Net sheet so that you can estimate how much money you will walk away with after closing. This also gives you an idea how much money you can allocate to make repairs and prepare the house for sale.
PREPARING THE HOUSE FOR SALE
HOW TO DECLUTTER AND CLEAN FOR
MAKING A GREAT FIRST IMPRESSION
I'll discuss how to start at the curb and then go through the house room by room making repairs and de-cluttering as you prepare it for sale. There are checklists that you can use to make sure you cover everything and to keep on track. Also, included are cleaning tips. You will be doing a Spring Cleaning to make sure the house is picture perfect for that potential Buyer. You will also need to fill out the Property Information Sheet as you are going through the house.
“STAGING”
ARRANGING THE ROOMS FOR A SPACIOUS FEEL—
We will look at ways to make the rooms feel more spacious and how to add accents and accessories giving the house a model home feel to the potential buyer. As you do this process you will also gather information about your houses’ features and amenities for use in your marketing/advertising plan.
I’ll discuss with you the pros and cons of listing your house on MLS. What opportunities exist online to adveritise your house those sites which are free and many with fees. We will lay out an advertising plan which will include print ad, flyers, and postcards. This marketing plan allows you to incorporate exposing your house to Realtors® actively selling properties in your area. We will also explore pros and cons to OPEN HOUSES.
MLS MULTIPLE LISTING SERVICE
YES OR NO
Looks at the Multiple Listing Service so that you can decide if you are willing to co-broker the sale and pay a pre-approved commission (approx 2-3%) to an agent who brings you a contract from a qualified buyer and you accept it.
Making sure that the flyers are in the box at the sign. Sending out postcards. Keeping the house in a ready to show condition. Talking to potential buyers and setting appointments to show the house. Links to web sites to help you to create your own web presence on a web site or blog.
Lots of ideas and suggestions for making your own. Samples of ad headlines and descriptions to use as guides to make your own newspaper and magazine ads. Web site links that will help you make flyers and postcards some free.
I’ll give you tips on how to best show your house to potential buyers. We will look at how to set up a showing schedule so that you are not constantly at the mercy of buyers. You want to be available but there are limits. They need to make appointments. Be advised during the sale someone is bound to show up on your doorstep wanting to see your house and honestly I would consider letting them as it usually means they are very interested. CAUTION: use your common sense, do not put yourself or your family in danger. Remember that person at the door is a stranger. BE CAREFUL AND DON’T HESITATE TO ASK QUESTIONS.
We will go over provisions that should be included in the contract as well as the general parts. We will look at what is considered a fixture vs. personal property. Samples of contracts for you to look over and get familiar with how they are written.
Decide in the beginning what you want to take with you from the house, i.e.: are you taking the washer and dryer, the refrigerator, freezer, the swing set etc. Know what is staying in the house. It’s a good idea to write a list. Also put a sign on an item if it is not staying with the house.
Decide on what is the least amount you will accept for the property.
Decide when you need to close on the house and write that date down.
Decide if you are willing to pay any portion of the Buyer’s closing costs. This will depend on your profit margin on how flexible with this you can be.
Decide if you are going to pay for the home warranty or if you want the buyer to pay for it. Now you are ready to negotiate.
(If it is a buyer’s market you may want to offer the home warranty and/or closing costs as an extra incentive to buy your house over the one down the street.)
Making these decisions up front will save valuable time and you will make an informed decision when you do receive a contract for purchase because you are prepared with the facts and not scrambling at the last minute trying to figure out your expenses.
See helpful hints and checklists. Need moving help there are links for you to find the right fit for your move. 8 Week Plan to help you arrange for your move to avoid problems with your move.
This section will prepare you for what to expect at closing. Includes sample Settlement Statement. It also will give you checklists to use as you prepare for closing.
Preparation is Essential!
Success begins with
Solid Groundwork...
STATE REAL ESTATE SITE LINKS
Do you need a disclosure? Any Special restrictions for your state. Find out! To help you find your state real estate link I did some research with the help of google and On this page I have listed the sites I have found so far with their online addresses. Find out your state requirements for sale of real estate before you start the sale process.
Copyright© 1973,1978,1981,1996,1998,1999,2003,2005, AEBlake Copyright© Oct 1, 2009 forsalebyownerhow2 abef Blake Enterprises
information deemed to be reliable although not guaranteed
thank you for visiting!
