Selling Your House on Your Own.
So you want to sell your house yourself. That is a big step. One of the biggest misconceptions is that selling a house is going to be easy, just put it on the internet, right? Well, not always. Here are some things to be aware of when selling your home yourself.
Selling your home yourself. The first step is not going to be finding a buyer. There is a lot of research you will need to do before you put your house up on the market. You will want to have a good idea of what is going on in the market around you, this way you can appropriately price your house. See the "Pricing my house" article for more information. Next up is going to be the various things you want to make sure are in working order before you start letting people come and see your house. Make sure your light bulbs all work, plumbing doesn't stop up, all of the outlets are functional, the windows all work, and on top of several other things, make sure you take down all personal photos and decor. So now you're ready to find a buyer. How do you do that? It depends. The goal in marketing a property is to reach as many people as possible. Once you have done that, you will probably get a bunch of calls from Realtors wanting to list your home, among the buyers calling.
If you do get the Realtor calls, make sure to use this time to weed out the ones will not provide value and the ones who do. This means you may get a call that directly asks you to sell, and throws out a bunch of numbers about how you will never sell your home without a Realtor. Throw that number away. The Realtors that later on you may want to work with if you decide to will not do that. What we will do is ask if we can send you over a CMA (Comparable Market Analysis) and some information about what else is going on in your area. Those Realtors are purely interested in making sure you have the tools you need, and providing value to you. These numbers should be kept so that you can call them if you need help.
So let's go forward a bit, you have found a buyer and need to get the contract set up. My suggestion would be to go ahead and contact a real estate attorney. They can draft up the contract, but really wont give you any real estate advice like what is a good idea and what isn't. As long as you are comfortable in the contract, proceed! Be cautious though, there are deadlines, contingencies, and many things that need to happen in between signing the contract and closing the deal. Make sure you read over your contract carefully. Since each and every deal is unique it is impossible for me to go in depth on the myriad of problems that can arise at this point, scheduling inspections, due dates, repair addendum, etc. My suggestion at this point, is to reach out to one of the Realtors from the previous step, many of them may have a discount if you have already found the buyer. For instance, If my client has found the buyer, I will facilitate the transaction provided there is no other Realtor involved for 3% instead of the usual 6%.
If you are comfortable navigating everything here and more, because I did not touch on everything, then I implore you to go for it. Just remember there are consequences to the mistakes that get made, legal and financial. Sometimes they are small, sometimes they can come with a price tag of tens of thousands of dollars. My Professional advice is to find a Realtor that you know, like, and trust if not to sell your home. Just know in order for a Realtor to be involved in a transaction we have to have a representation agreement and cannot give our advice or expertise otherwise.
I wish everyone the best of luck in their endeavors, even if I do not have the privilege of being involved, but I am always available.