How to sell your home all on your own.

There is getting to be a growing trend of people that are selling their homes and realestate themselves. For those who have their act together, a bit of self confidence and can understand legal issues to a certain degree, it's a great way to sell your home and save 6%-10% of the selling price. With homes selling in the 3-400,000 dollar range and average of even 6% is a lot of money. And that money goes into your pocket.
But that having said that, the savings in a lot cases can cost you in time and troubles if you are not fully prepared. Selling a home is not like selling some article at a garage sale. With legal issues and other compexities there is a lot to look into. Throughout this portion of the site we will look at some key tips for selling your house on your own.

A word of caution. If you are not totally 100% committed to selling and the effort that it will take, don't even bother. But if you feel that you have what it takes, by all means. There are many who have sold their own homes and have done well.

1. Get pre-approved for a mortgage. Unless you are selling your home and moving into a rental type unit, you will want to make sure you are pre-approved in a mortgage for your next home. This always takes the uncertainty out house hunting for you next home. During this time also get your your pay out balance. The key is to "Know where you stand".

2. Get your home appraised. It is always best to get your home appraised to get a fair market value. One can look at realty ads and classifieds to get a ball park figure of what homes are selling for in your area. But each home even side by each can be a difference of thousands of dollars. No to homes are created equal. Some people get a realtor in to give them a "Free Appraisal". The first thing to remember is that a realtor is NOT the same as an appraiser. If one asked 3 different realtors for a home price you could most likely end up with 3 different home prices. Pay the few dollars and get an actuall appraiser in to do the job.

3. Plan ahead with TIME. Plan ahead. Unless you live in a so called "Hot Market Area" most realesate listings take 120-150 days to sell. Most FSBO sellers give up on trying to sell it themselves after 30-60 days. Everyone seems to think that their home will sell right now and that everyone wants it. Truth is, it's just not that way.

4. Before the for sale sign goes up. Selling your home yourself entails a lot more than some advertisement in a paper or on the net. One will want to have everything well in order and ready. But is your home ready? Is there small repairs that need doing? How about simple things like squeaky doors? Peeling paint? Worn lino? Cracked windows? The list can go on for miles. It is actually recomended that one hires a home inspector to go over the home. He can point out issues and give you estimates on what the cost will be. You will have that inspection to offer the home buyers when they come around to look. Their cost can be around $300-$600. It's one of the cheapest services you can get when selling a house. And well worth the money. Our issue always has been, "Know where you stand".

5. The paper work. Good old paper work. On your check list have you got you legal issues dealt with. You will need a notary or lawyer to do the transfer of the title and deeds. The actual bill of sale or contract to purchase can be done on your own. These forms can be bought a various office supply stores or even downloaded from the internet. Make sure you check in with local government agencies to see what all else is required. Things like taxes also have to be dealt with.

6. You think you're ready. Ok you've done all the leg work. You have all the right papers in place. The small repairs have been finished. The home inspectors left you a list of things to do and now it all looks great. You have the appraisal done and your think the selling price is just right. Are you ready to have others (potential buyers) walk about your house? You bet. Now up goes your "for sale" sign on the front yard. You have your ads placed in the local paper. Maybe even a flyer or 2 posted on a community bulletin board or even an online bulletin board. A few good descriptive ads along with a few good sharp photos on a well known realty website will work wonders. Now you just wait for that phone to ring. Someone to come and view your home. Are you missing anything? How about a Saturday or Sunday open house? That will get the crowds.

7. You have found that buyer. Or the buyer has found you. They love your house. Love the neighbourhood. Now you must decide on price. Once the price is decided there is a closing date to be disclosed, and a possession date to be discussed. Also things like appliances, some yard items. maybe a small storage shed. What stays and what goes. Be sure to get it down on paper. Remember. "Know where you stand".