Should I use For Sale By Owner to sell my house?
My husband and I have a small “starter” house he purchased before we married. We are now thinking of starting a family and we want a bigger house outside of the city limits so our children do not have to attend a city school. Has anyone ever used these type site/sales venues. The house is not in disrepair, but it does require som work and we really just want to sell it for payoff of the mortgage ($44,000) So any thoughts?
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
For Sale by Owner has many pitfalls for the unwary. Such as making sure there is an expiration date on all offers / counter offers so your property won’t get tied up for months and then the sale falls through.
Things like not using an escrow company resulting in not getting the proper paper work completed. or credit check on the buyer and finding out the buyer has tons of creditors that will try to attach any money he uses to purchase the house,
For sale by owner is normally best reserved for people with experience in handling sales and purchases of realestate and know the pitfalls.
Depending on where you live it’s a tough market to do a FSBO. I sold my house this way but that was back in ’04 before the market crash. Are you just looking at saving money in realtor fees?
If you decide to do FSBO make sure you sign up for a service that gets your house on the MLS. In addition, you may want to pay for an appraisal before putting it on the market. This will give you a good idea if someone can attain financing for the property (you mentioned it needs some work.) In addition, if the appraisal comes in high it will give you marketing fire power.