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“For Sale by Owner” Instruction Sheet
- Consider buying and reading a book on the subject. You can also send for our “white sheet” on the subject. This “white sheet” is an 80-page booklet of “How to Sell your Home by Yourself” A copy can be obtained just by asking.
- Hire an attorney to help you with the paperwork, legal issues, and a list of other service providers. Pay particular attention to all of the new legal forms.
3.Place an ad on Zillow and other FSBO websites. Include the price, number of bedrooms, number of bathrooms, and the location of the home. A virtual tour on a website can really help make the buyers want to see the home. We have a list of effective and either free or inexpensive sites available.
4.Design a flyer or brochure for your property. Be sure to include a photo and a brief description of the property as well as pertinent facts about the home. It should have the following features:
- What caused you to buy the house?
- What are three to ten major benefits of living in this area?
- What have you done to improve the property over the years?
- What is one feature of this property you would like to take with you to your next home? Why?
- What have friends and relatives liked about your home?
- Is there anything special you and/or the kids will miss about the area when you move away?
5.Be familiar with at least three different ways to finance the purchase of your home. Know how to calculate monthly mortgage payments including taxes and insurance before and after you take into consideration individual tax income and individual income tax brackets.
6.Know your current annual property taxes, homeowner’s insurance premium amounts, and monthly utility amounts. What is that monthly payment? Will they go up after the sale? Consider putting this information into a spreadsheet with phone numbers to show the buyer how organized you are (and thereby cause them to think the whole house is as organized)
7.What are current interest rates, costs, and payment amounts on the various loan programs that will fit your home and apply to your most probable buyer?
8.Consider having an unbiased, certified professional appraisal done on your home to determine the current value and market trends.
9.When a prospective buyer contact you….
- Set appointments at their convenience.
- Always prepare your home for a showing even if it means leaving another commitment early to have your home in the best condition possible.
- Have your property brochures available.
- Introduce yourself at the front door.
- Allow the buyer to tour the home at their pace giving the buyer(s) as much privacy as possible.
- Be prepared – most people may not be that interested in your home. Buyers shop by comparison and there are usually a great number of homes for them to consider.
- Take re-contact information.
- Follow-up without looking needy.
- Have a large easily readable sign in your front yard!
10.In the event that an offer is being made to you from a buyer, have them put the offer in writing, including an earnest money deposit. Be prepared to pay an attorney to review the legalities of the offer and any addendum(s) that may accompany the offer. Make sure they are pre-approved by a local, large lender.
11.Monitor daily to make sure all is progressing per a pre-approved time schedule.
If you would like more help in selling your home by yourself, we are happy to help.