There are many reasons why you may want to sell your own house. The main reason is normally the money that you’ll save by not using a Real Estate Agent. The counter-argument is the amount of extra time you need to put in, but so long as you follow a plan you can save time and of course the money. Here are seven tips to help you sell your own house:
1. Get the right valuation for your property
How much is your property worth? This information is available online if you search for it. Search in Google using terms such as ‘real estate prices’ and adding your location or zip/postcode, you should see websites with up-to-date information on how much similar houses sold for in your area. You could also pay a Real Estate Appraiser to value your house, but this will add to your costs and they will probably value it lower than its real value.
2. Make the property look good to live in
From the first time a potential buyer catches sight of your house, to when they leave, the house should be well presented. Starting with the outside, you should make sure any garden, driveway, windows, doors, and walls look clean and neat. The inside should be inviting, warm and at least appear spacious; experiment with furniture layouts and mirrors if necessary and get rid of any clutter.
3. Get your house inspected
Be pro-active and have your house inspected before marketing it. Any conscientious buyer can ask for an inspection themselves, so they know the house is a sound buy. If you ask for an inspection first and carry out all of the inspectors’ recommendations, you will also have that peace of mind.
4. Get the attention of buyers
Marketing your house and getting the right attention from the right people is a job you’ll have to do yourself, but you’ll have more control over how it’s done. Put your property, with a picture if possible, into every local paper, free classifieds, and any other local publication you can think of. Ask shop keepers to display your ad in their window, put it on busy roads particularly at junctions or intersections. Don’t forget about the Internet either, there are plenty of free or low-cost classifieds websites, where you can select your area. And don’t forget word of mouth – tell people about it and ask them whether they know of anyone who may be interested.
5. Use bank or mortgage broker FSBO services
Banks and mortgage brokers can help you with the process of supplying interested parties with the information they need, by providing a hotline service. This service will play a recording to anyone who calls the number advertised, including the details of the house and other vital sales info, and will record their details. This will work for you 24 hours a day and save you answering the calls personally. The service can include a website that fulfills the same purpose and you receive emails with potential buyers’ details.
6. Another useful Mortgage Broker service
You can do yourself, your buyers, and your mortgage broker a favor, by recommending to your buyer to use that mortgage broker. You’ll be helping your buyer if they don’t have experience of buying, the mortgage broker has a list of people looking to buy a house, and you are supplying them with more clients and names. The broker can also give you financing options to use when marketing the house to buyers, to make the purchase even more tempting.
7. Closing the deal
When looking to close a deal on your property, always involve your lawyer/ solicitor and communicate with your buyer as much as necessary to agree on an offer and seal the deal. Follow the seven tips above and selling your own house will be far easier than you think and save you a large agent commission fee.
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