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Another FSBO thread... Is there a good guide?
Posted on 10/29/17 at 7:23 pm
Posted on 10/29/17 at 7:23 pm
Anyone have a good step by step for selling fsbo?
Any idea how much the closing costs are for a $230k sell?
Do the lenders and attorneys pretty much handle everything?
Any idea how much the closing costs are for a $230k sell?
Do the lenders and attorneys pretty much handle everything?
2
Posted on 10/29/17 at 7:46 pm to cubsfan5150
No offense, but I'm afraid you're in over your head.
Biggest thing is not to sell it below FMV (Fair Market Value).
Biggest thing is not to sell it below FMV (Fair Market Value).
Posted on 10/29/17 at 8:02 pm to ItzMe1972
I'm not... Got some comps from some local lenders.
I'm pretty confident in my price.
This doesn't seem complicated... I just don't want to frick it up.
I'm pretty confident in my price.
This doesn't seem complicated... I just don't want to frick it up.
Posted on 10/29/17 at 8:50 pm to cubsfan5150
Market it first. Signage, Craigslist, etc. You've got to let people know.
Then agree on a price, closing date, who pays closing cost (typically buyer).
Then you can have an attorney or title company fill out a purchase agreement. Or maybe you have have a real estate friend that would do it for free.
The buyer's lender will take them through the hoops of the loan process.
Some realtors may try to get a piece of it by getting the listing. They usually have a "buyer" in que. You can decide if you want to pay them 2.5-3% to provide the buyer, but not list it. They will usually do the paperwork if so.
Another option is to pay a flat fee to get it in the MLS. Last one I paid $400 for the listing, but found the buyer myself and that was my only cost.
Then agree on a price, closing date, who pays closing cost (typically buyer).
Then you can have an attorney or title company fill out a purchase agreement. Or maybe you have have a real estate friend that would do it for free.
The buyer's lender will take them through the hoops of the loan process.
Some realtors may try to get a piece of it by getting the listing. They usually have a "buyer" in que. You can decide if you want to pay them 2.5-3% to provide the buyer, but not list it. They will usually do the paperwork if so.
Another option is to pay a flat fee to get it in the MLS. Last one I paid $400 for the listing, but found the buyer myself and that was my only cost.
Posted on 10/29/17 at 8:51 pm to cubsfan5150
You mentioned closing costs. Are you talking from the buyer or seller side?
Checkout fsbo.com
Checkout fsbo.com
This post was edited on 10/29/17 at 8:54 pm
Posted on 10/29/17 at 8:57 pm to ItzMe1972
I want to get a rough estimate of the closing costs prior to offering to pay any of it... Whether none, half or full.
I have the house advertised already, with someone coming to view it next weekend.
I just want to make sure I cover all my bases.
I have the house advertised already, with someone coming to view it next weekend.
I just want to make sure I cover all my bases.
Posted on 10/29/17 at 9:00 pm to cubsfan5150
quote:
I want to get a rough estimate of the closing costs prior to offering to pay any of it... Whether none, half or full.
Ok. $5-6k
Spend the $120 or so and get professional photos from a realtor type service, such as imoto photo or photo sold. Worth every penny.
Posted on 10/29/17 at 9:18 pm to cubsfan5150
Make sure they have been lender approved before you sign a purchase agreement. If not, you can have it off the market for 4-6 weeks and then have them not qualify.
Your side of closing should be minimal, mostly pro-rated taxes for the year.
I think buyer side should be about 3% of loan amount.
Good luck and keep us posted.
Your side of closing should be minimal, mostly pro-rated taxes for the year.
I think buyer side should be about 3% of loan amount.
Good luck and keep us posted.
Posted on 10/29/17 at 9:59 pm to TigerDeBaiter
OK, thanks... That's about how much mine were when I purchased the home, VA loan
Posted on 10/29/17 at 10:00 pm to ItzMe1972
Good tip... Thanks
Posted on 10/30/17 at 2:01 pm to cubsfan5150
quote:
I want to get a rough estimate of the closing costs prior to offering to pay any of it... Whether none, half or full.
Why offer to pay closing before you have someone make an offer?
You need to read more FSBO sites. It is NOT rocket science but you should be familiar with the process. Put pictures up on a websites that do FSBO. You can create your own website on GoDaddy for cheap. Put lots of pics of your CLEAN UNCLUTTERED house.
Put an add in the paper with location and the website address so people can see before showing up and wasting your time. I sold 2 that way with no trouble other than getting kids out of the house to show it. The buyer pays closing. I didn't pay anything but advertising costs. didn't offer
Posted on 10/31/17 at 9:15 pm to fatboydave
I'm talking about when negotiating price.
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