Thursday, February 09, 2006

FSBO Beware but still sell your Home!

FSBO (For Sale By Owner) is a system to offer individual homeowners the opportunity to avoid real estate commissions and now fees, when they need/want to sell their home. OK we know this... right? Now... lets be brutally honest here... REALTORS exist because they make it their job to know the real estate market... not your house, not necessarily your needs. REALTORS typically know the pitfalls associated with real estate transactions and can be an invaluable source for information and honestly.. statisically will get you more money for your house if you will let them guide you through the troubled waters of the real estate market. That said... There are ways for you to Sale your house yourself without an agent! First you must understand several key concepts. The house always sells itself! No one can sell your house. The market, not you, not your mortgage amount, not the REALTOR; establishes how much your house will bring to your pocket at closing. The market is controlled by your neighbors. The prices for which they accept, the prices which they paid, the neighborhood dynamics, and how your partcular house fits into the scope of the market. Your home's value is primarily based upon square footage. If you have the larger house your amount per square foot may be lower than that of a smaller house, even if they sit side by side! The little "extras" that you may have done.. perhaps expensive marble countertops and stone entry halls, all add value, but NOT to your market value. It may swing your price per square foot upwards slightly, but typically you will not recover the extra cost you incurred. So where does it add value? Well easy.. if you live in a typical neghborhood, your floorplan and that of your neighbors may be identical... The one with the marble will come near selling before the one without.. Unfortunately, you probably wil not be able to sell it for more money though. And important to remember, just because you like something does not mean someone else will. If you want to get appraised value for your house, you must expand your target market. Very few people in todays society can qualify for a traditional mortgage, so look beyond typical... "Get out of the Box!" There are ways to sale your house, without a REALTOR, receive the Appraised Value and put more money in your pocket at closing. (BTW, I still recommend a REALTOR.. protection and knowledge of the transaction is worth the investment) If you want information on a unique program, go to www.YourEZsale.com/52503 Simply register and receive a Free, no obligation information packet of how to Sale for more Money, FAST by simply expanding your market! If you want a REALTOR that understands creative finance and expanding your market, I will recommend Dan Stewart Realtors. www.danstewartco.com (Licensed in Tennessee, Georgia, Mississippi and Arkansas. There are other reputable REALTORS, but I have had first hand experience with these folks.. If you talk to a REALTOR that does not understand Creative Finance.. WALK away! Many are still wrapped up in the 80's and 90's when it was easy to obtain a traditional loan. It is not that way anymore. These REALTORS have failed to keep up with the changing industry. As a FSBO, do not make their mistake nor let them lead you down the wrong path.

1 Comments:

At 3:14 PM, Blogger Lizy said...

This article contains really useful information. It is selling FSBO that can bring you both success and substantial savings. All you need is just a bit more time and effort. You need to know the basic FSBO tips and tactics in order to prepare yourself for the whole process. The internet can provide you with any information nowadays. Recently i have found an interesting service called Climate Watch. With the help of ClimateWatch visitors can check what the climate is like in another town or city all year round before they move there.

 

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