I suggest that you contact three successful real estate agents with experience in your neighborhood. Ask each for a written comparative market analysis and also for an estimate of seller’s expenses. Your seller’s expense may vary depending upon the type of financing the buyer obtains.
You want three real estate professionals to give you their opinions so that you can tell quickly if one is inflating the estimated sales price to get your listing. You also will get the benefit of three different professional opinions on what you might still do to the property to improve the “eye” appeal.
Even though you intend to go the FSBO route, the successful real estate agents will be happy to give you their opinions. Real estate professionals know that 95% of FSBO sellers are not successful and eventually list their property with a realtor. The agents will just look at this exercise as marketing for your listing.
O.K. This is my story.
I found this home and rehabed it and now its time to sell(well-almost). My question is exactly what do i need to sell by owner. What are my responsibilities as far as what i need to start the sales transaction to my duties at closing. Ive never sold a home before and this probably seems elementary to most of you but im nervous about making costly stupid mistakes.
I would also like to know what i can expect to have to pay to sell this house. I know there must be sellers costs just as if it werent fsbo, but not sure where to find out what they are.
I appreciate all your time and effort you put in your replies.
Thanks,
I am currently selling a flipper here in Connecticut and my view is that selling costs are written in sand, not stone. For example, if someone has been approved for a loan but are short cash to pay some closing costs like title stamps and layers (customary, reasonable) fees then I Will pay that and more if it seals the deal and I am happy with the final take home pay.
Great suggestions from Dave T. Keep in mind, though, that many will do a market analysis to find the fair market value, then tack on the amount of their commission to the sale price. It gets them more money, but it won’t help you sell your house faster. In addition, I would also contact a Title Company. If you used one to originally buy the proeprty, and you liked how they handled the closing, they should be your first contact. If not, contact a couple, or ask for references from other investors or the Realtors you get the market analysis from. Tell them you’re a new investor, you have a property almost ready to sell, you plan on buying and selling many in the future, but you need help with the details of the sale. They should be happy to give you a complete abd detailed run-down of what closing costs are, how much they will cost, who typically pays for what in your area, what happens and when. Keep calling around until you find someone who’s responsive and helpful.