Sellers

  • Would you try to operate on yourself or would you leave it to your doctor?
  • Could you rebuild your car engine alone or would you hire a mechanic?
  • If your home needed a new electrical system, would you take the chance or would you hire an electrician?

For Sale By Owner is a good idea…but YOU NEED A REALTOR TO SELL YOUR HOME 

 

You Need A Realtor to Price Your Home Correctly

  • Consider comparables. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?
  • Consider competition. How many other houses are for sale in your area? Are you competing against new homes?
  • Consider your contingencies. Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in four months?
  • Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal.
  • Ask a lender. Since most buyers will need a mortgage, it’s important that a home’s sale price be in line with a lender’s estimate of its value.
  • Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell.
  • Know what you’ll take. It’s critical to know what price you’ll accept before beginning a negotiation with a buyer.

You Will Need A Realtor to Help You Find Qualified Buyers

Unless the buyer who makes an offer on your home has the resources to qualify for a mortgage, you may not really have a sale. If possible, try to determine a buyer’s financial status before signing the contract. Ask:

  • If the buyer has been prequalified or preapproved (better) for a mortgage.
  • Does the buyer have enough money to make a downpayment and cover closing costs?
  • Is the buyer’s income sufficient to afford your home?
  • Does your buyer have good credit?
  • Does the buyer have too much debt?

You Will Need A Realtor to Provide the Right Contracts

  • Property Disclosure Form: This form requires you to reveal all known defects to your property.
  • Purchasers Access to Premises Agreement: This agreement sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you move.
  • Sales Contract: The agreement between you and the seller on terms and conditions of sale.
  • Sales Contract Contingency Clauses: In addition to the contract, you may need to add one or more attachments to the contract to address special contingencies—such as the buyer’s need to sell a home before purchasing yours.
  • Pre- and Post-Occupancy Agreements: Unless you’re planning on moving out and the buyer moving in on the day of closing, you’ll need an agreement on the terms and costs of occupancy once the sale closes.
  • Lead-Based Paint Disclosure Pamphlet: If your home was built before 1978, you must provide the pamphlet to all sellers. You must also have buyers sign a statement indicating they received the pamphlet.