Is For Sale By Owner (FSBO) For You?

In today’s market many people are faced with choosing the best way to sell their home, however this is a difficult choice to make. The intention of this article is to help a home seller understand what is involved in the process, even if only slightly. This will empower the home seller to make the best choice in any situation.

For many the option to sell a home themselves is often intended to save the 3 to 6% on the real estate agent’s commission. Some budget the marketing by simply figuring in the cost of a news paper ad, maybe some modest online promotion, perhaps the cost of a sign in the front yard, or printed flyers. In theory, it could be a real pocketbook saver. The problem comes when the little expenses are all that is included in the consideration. There is much more involved with the home sales process.

Here is a list of questions that will help you gauge the level of involvement, and ascertain if you are prepared to undertake the incredible task.

1. What paperwork is involved with selling a home? (forms, titles, certificates, research, ect)

2. How aware of local and state law must you be? (disclosure requirements, court documentation, termite reports/inspections, leaky roof and others varied by location)

3. What is the best process for setting an unbiased asking price? How would it be implemented? How would the fair market value be determined?

4. What is involved in screening for serious buyers vs casual interest?

5. How flexible should a home seller be for showing the home?

6. Human resources required that are at hand? (real estate lawyer, appraiser, home inspector, termite specialist/inspector, mortgage specialists)

7. Is it important for a home seller to be aware of and versed in mortgage products?

8. Is it possible for a home buyer to damage the home seller’s credit? How would I find out?

9. How much preparation is needed for home repair, and arrangement preparation?

10. What is home staging and how does it affect the sale of a home, specifically your home?

Obviously this is not an easy path to consider, there is a lot more involved than just saving six percent. Research is required on many levels when dealing with your home and selling it in any market, let alone a difficult one. Between legal concerns, documentation and knowing the market, selling your home could rapidly become a full time job.

There are other required steps for preparing to sell your home on your own, such as doing any repairs requested by the home inspector and updating appliances as needed. The general cleaning will be the bare minimum as the home should be in perfect model quality condition. There is also landscaping and perfecting curb appeal, which will only be determined by a buyer’s eye, or a trained professional. If you are ready for this undertaking, and the details that are involved, then for sale by owner maybe the way for you to sell your home. If you realize this could be potentially arduous and are not prepared for the potential legal ramifications, then a professional realtor is the best idea for your home sale.

About the Author:
Joe Cline writes articles for Austin Texas Realtor. Other articles written by the author related to Cedar Park real estate and Austin real estate can be found on the net.