Prepare Your Home for the Sale
● You need to declutter your house and remove all personal photos and keepsakes. This will help the buyer imagine themselves in your home.
● If the house is vacant, consider staging it. You could just stage the living areas and master bedroom but if at all possible, stage the entire house. However, this could be costly.
● Fix the random little things that are broken, it will make a difference.
● Make sure it feels well maintained and cared for. Always have the house clean and neat.
Price it Right
● This is more of an art than a science.
● Do some market research on Zillow or other websites to see what other homes in your area have sold for. The one downside to this is you cannot see the closing costs that the seller paid at closing. This cost could be substantial.
● It helps to get a feel for your local market. Is the market hot and homes are selling quickly? If this is the case maybe you could price the house a little more aggressively (higher). This is an important point! You should never price your home too high! Let me repeat! Never price your home too high! It will sit on the market.
● Your pricing also depends on your timeline to sell. If you need to sell quickly, price it lower. If you are not in a rush and are willing to wait for the perfect buyer, price it higher.
Fill out the Property Disclosure
● Even though you are selling your house by owner, you are still required to fill out a property disclosure.
● The property disclosure form is a document with hundreds of questions that need to be answered truthfully. Once again TRUTHFULLY!
● Omission of information is a lie and you cannot do it.
● Just be careful that the document is compliant with all state and local laws.
Call Friends and Family
● Did you know that 8% of all homes sold in the US are sold by owner, and of those, 36% are sold to a family member or friend. This information comes from the National Association of Realtors.
● Shout it from the rooftops that you are selling your house and somebody you know may be looking to buy.
Take Quality Photos
● Hire a professional to take the listing photos.
● For around $100-$150 you can get professional quality pictures that will make the listing pop!
Advertising is Key to Real Estate Sales
● You have to get some sort of online presence. This can be with Zillow or any other online real estate site. Definitely post on your personal Facebook page and Facebook real estate groups.
● You will need to get a for sale sign to put in the yard and if at all possible attach brochures to the sign.
When you get an Accepted Offer
● Be prepared to pay a commission to a buyer’s agent. Most buyers will have an agent so it’s a necessity.
● Familiarize yourself with the expected closing costs and all related documents. Real estate transactions normally have numerous documents for both parties to sign.
● The buyer normally chooses the title company to handle the transaction. Please remember that you are paying the title company too and they also work for you.
● Wait for the Clear to Close! The day you officially sell your house. Exciting day!