The Homeowner's Guide For Sale By Owner: Everything You Need to Know to Sell Your Home Yourself and Save Thousands
American homeowners saw the real estate landscape change in recent years. Most cities in America have “buyer’s markets,” meaning you may have to go that extra mile if you want to sell your home. This book details each benefit that going FSBO can bring you, and explains how you can accomplish this task while saving money. With the help of this new book and companion CD-ROM, selling your home without a realtor or broker will be fast and easy. In this comprehensive and easy-to-understand book,...
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American homeowners saw the real estate landscape change in recent years. Most cities in America have “buyer’s markets,” meaning you may have to go that extra mile if you want to sell your home. This book details each benefit that going FSBO can bring you, and explains how you can accomplish this task while saving money. With the help of this new book and companion CD-ROM, selling your home without a realtor or broker will be fast and easy. In this comprehensive and easy-to-understand book, you will learn the entire “by owner process” from A-Z. You will learn how to set the sales price and how to save the 6 to 8 percent real estate commission, which can add up to thousands or tens of thousands of dollars in savings. You will learn how to prepare or “stage” your home, have a professional appraisal and home inspection, market, advertise, and show your home, list your home for sale on the Internet, list your home on the Realtor’s Multiple Listing Service (MLS), host an open house, and develop and market a fact sheet. In addition, you will learn about mortgage lenders, home inspectors, title companies, escrow agents, the pros and cons of using a For Sale By Owner (FSBO) service, the legal issues, the biggest mistakes FSBO sellers make and how to avoid them, contracts, legal forms, and check lists (all of which can be found on the companion CD-ROM), and when and how to use a real estate attorney.This book also includes dozens of resources and information from real estate experts: mortgage planners, attorneys, escrow agents, and realtors were interviewed for this book. In addition, people who have accomplished selling their own homes were interviewed to give inside tips on how to reach this goal. Let this book be your guide through saving money and selling your house the FSBO way.
Foreword 15Introduction 17Chapter 1 What You Should Know Before You Go FSBO 21Understanding the Real Estate Market 21Trends in the market 22The 2008 market crash 25The effects of the crash on the housing market 28The status of today's market and what it means for you 33Selling in a Buyer's Market versus a Seller's Market 37Short sales and foreclosures 42Chapter 2 Doing Your Research and Knowing Your Market 47Different Types of Buyers 48Factors that Affect a Real Estate Market 52School systems 53Proximity to transportation 53Ideality of location 54Safety 54Conditions of bathroom and kitchen 55Overall condition of the house 55Proximity to amenities 55Access to employment in the area 56Targeting the Right Buyer 56Perception 58Chapter 3 Determining If FSBO is For You and Knowing What to Avoid 61The FSBO Facts 61The FSBO checklist 62What to Avoid 65Pricing too high and expecting too much 66Believing everything you hear 67Not checking qualifications 67Getting too emotional 74Cutting corners 75Deals that sound too good to be true 76Getting in over your head 76Turning off potential buyers 77Being unaware of your market 77The pros and cons of FSBO 78The pros 78The cons 86Chapter 4 Preparing Your House for Sale 97De-Cluttering 99The kitchen 99The bathrooms 101Closets and storage 101The master bedroom 102The laundry room 104The home office 104The dining room 105The living room 106The garage 107Improvements and Repairs 108Doors, windows, walls, and molding 109Countertops, cabinets, and mirrors 110Floors 111Plumbing and plumbing fixtures 117Electrical 119Heat, air systems, and hot water tanks 120Cleaning Your House 121The kitchen and bathrooms 122The rest of the house 125Outside the house 127Value-added improvements 129Chapter 5 Determining Your Price 133Getting an Appraisal 133Getting a Comparative Market Analysis 137What determines your house's value 143Tips to Pricing 144Knowing your neighborhood 145Sizing up the competition 146Chapter 6 Listing Your Home 149What You Need to Make Things Run Smoothly 150When to Put Your House on the Market 152Where to List Your Home 153The Internet 153Services, Companies, and Professionals That Can Help 156Realtor services 160What to look out for 162For sale by owner brokerages and MLS services 163Mortgage lenders 171Home inspectors 175Home inspections and your contract 177Appraisers 178Title companies and escrow agencies 179Real estate attorneys 181Chapter 7 Staging Your Home 185Room-to-Room Staging Tips 187Creating Curb Appeal 199The lawn 200Shrubbery and flower beds 200Sidewalks and driveways 201Windows 201Chapter 8 Marketing Your Home 203Signs 203Advertisements 206Effective versus ineffective ads 209Fliers 211The Internet 215Photographing Your Home 216Word-of-Mouth Marketing 222Handling Phone Calls 223Chapter 9 Running an Open House 227Marketing Your Open House and Creating Traffic 229Handling Individual Showings 230Safety first 230Effectively Showing Your Home 231Following Up 233If Your Home Is Not Selling 233Chapter 10 Handling Offers and Working with Buyers 235Determining if a Buyer is Qualified 236Managing Multiple Offers 237Working With Buyers and Their Realtors 238Earnest Money Deposits and Escrow Companies 239Your Closing Timeline and Costs 241Offering a Seller's Concession 243Chapter 11 Handling Contracts and Other Documents 245The Contract 245Contingencies 250The Importance of a Home Warranty 253Understanding the Legalities 254Seller's disclosures 254Fair housing laws 256Conclusion 259Glossary 263Bibliography 279Author Biography 283Index 285
