Selling a house by owner question

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How difficult is it to sell by owner besides showing your house when interested parties call?

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I've heard its not that hard if you can do paperwork. But what you have to consider is that 6% doesn't go to one realtor, they split it. So the problem you may have, is realtors not showing their clients your home if you're not going to pay a commission.

I think you can pay to list on MLS or one of those sites and put in there "2% commission to realtors who bring purchaser" or something like that.

Again, this is just all minor stuff I remember hearing when I sold mine 3yrs ago.

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you could, hopefully, have someone interested in it who doesnt have an agent and save 6%

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True, but I've even heard that its worth paying 1-2% to a specialist in the field to do the paperwork and make sure it is done correctly

I do believe that some out there will just charge a flat fee to do it.

If you price it right, it shouldn't be a problem. I sold my last house 7 months ago. There were 3 others in the neighborhood for sale by a realtor and I simply priced mine at 6% less their asking price. 3rd couple to look at it, bought it. Had them fill out the purchase agreement provided by fsbo and closed with the mortgage co of their choice 2 months later. It did cost me $199 for them to come take pics and put it on the fsbo website.

Because I'm a Realtor, I feel I can help you out here. You can absolutely sell your home yourself if you have the time. They key is to price it right. Anyone can do the paperwork and you can find contracts online to do what you need. It's definitely easier to hire a Realtor, though.

If you're in a bit more of a pinch for time, find someone or a company that will do a flat fee listing in the MLS. The MLS is the most powerful marketing tool out there and has the best chance of getting your home sold. The only issue is that you're gonna need to pay the selling realtor 3% (don't pay any less than that unless something like 2.5% is market standard). If you try to skimp and only offer 1 or 2%, you'll cut your number of showings drastically.

Think of it like this, the Realtor can push your house as the one the buyers pick, or they can suggest another. If yours pays less than another....you can see where that may be a problem.

(no message)

Good info everyone I am about to sell mine in a couple of months.

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Realtors are a waste IMHO. Bankers do most of the paper work.

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This is why the money board is great, because 95% of OT intelligent posts like these need not even be debunked. But for the 5%, If you think a loan officer(?) spends more hours, sets up more showings, sets up termite inspectors, home inspectors, does more paperwork, and spends more time & money on a buyer or seller, you are seriously misguided.

Now in niche communities where "T-Boy" is selling his house and "Little Ricky" at Dow who fishes with "T-Boy's" cousin "Junior" wants to buy it, yes a realtor is seldom needed.

Outside of that is a gigantic world full of unique situations where a realtor is paramount.

Ask your banker

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Everyone knows a lawyer that can print the paperwork.

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This is how I did it.

Found a local lawyer who specialized in property transactions. He printed out the purchase agreement and disclosure documents for me. I went through it with the buyer and filled it all out. Lawyer reviewed it, made a few corrections and that was it. I don't think the lawyer spent more than one hour on the whole deal. He charged me $250.

The buyer did have all cash so I imagine this cut down on the paperwork involved.

I did spend another $300 to have the property appraised and this was how I arrived at my price. The only place I listed the property for sale was the classifieds of the local newspaper.

All in all, easy deal and would do it that way again.