20 TIPS YOU MUST KNOW TO LIST A FOR SALE BY OWNER

Dated: 09/07/2019

Views: 189

Considering For Sale by Owner?  Check out these 20 suggestions to sell your home. 

 

1. CONDUCT YOUR OWN MINI--WALKTHROUGH

Give your place the once-over. Make notes of all items that need repairs or improvement.

 

2. MAKE ALL NECESSARY REPAIRS/IMPROVEMENTS

Make all necessary repairs and improvements before you begin to advertise your property.


3. DO MARKET RESEARCH

Research pricing and terms of sales in today’s market. Investigate prices in your area or compare with similar neighborhoods. Use that information to establish a realistic price for your property.

 

4. DETERMINE YOUR FINANCIAL ALTERNATIVES

Can your home be financed?

Meet with local lenders and determine financing alternatives for prospective buyers. 

Determine the types of financing that you are willing to consider, such as, Conventional, FHA, VA, Seller Carry-back First Loan, Conventional Loan with Seller, Carry-back Second Loan and “Wrap Around” Loan.

 

5. MARKET YOUR HOME

Investigate fees to market your home. Compare rates and deadlines for online sites, Consider all advertising options newspapers and home magazines, etc. that will best advertise your property.  

Be prepared to enter your home on several web sites to drive buyers to your home.  Post ads on Social media sites to lure buyers to come look.

 

6. ESTABLISH A BUDGET

Establish an advertising budget.

Prepare a contingency advertising budget in case your home does not sell as quickly as you anticipate.

 

7. PREPARE A PROFESSIONAL AD

Prepare professional, compelling ads that will attract buyers. Place them in the appropriate publications. Upload materials to online sites.

 

8. TARGET OUT-OF-TOWN BUYERS

Prepare a plan to reach out-of-town buyers. They can account for a major portion of today’s home purchasers.

 

9. PURCHASE AN OUTDOOR YARD SIGN

Purchase an attractive, weatherproof yard sign and install it in the front of your property with your phone number on it. 

Be available 24/7 to answer your phone.

 

10. PREPARE A FACT SHEET

Prepare a fact sheet outlining specific features of your home and the corresponding benefits to prospective purchasers. 

Meet with each person that views your home so they get this information.

 

11. SCHEDULE OPEN HOUSES

Schedule an open house each weekdays as well as weekends. Make your property more inviting with freshly cut flowers, scented candles and the aroma of freshly baked bread or cookies.

 

12. ADVERTISE YOUR OPEN HOUSE

Purchase “open house” signs and position them in areas along main thoroughfares, through local neighborhoods and on your property. Be sure to remove them after each open house.

Purchase online advertising to draw Buyer to your open house.

 

13. ALWAYS BE AVAILABLE

It is important to always be available for any Buyers that want to walk through the property 

Be prepared to answer questions and offer information about local schools, parks, shopping, etc.  When someone wants to look at your home they usually want to see it right away and wont wait.

 

14. RESPOND PROMPTLY TO INQUIRIES

Respond in a timely manner. Learn how to separate “lookers” from qualified buyers. Ask for names and phone numbers and be sure to follow up. Ask questions about their current financial situation and determine if they can qualify for a loan and even afford your home.


15. BE PREPARED TO NEGOTIATE

Be prepared to deal with buyers when they "low-ball" your home.  Act as though you are an impartial third party. Remain calm and refrain from emotional outbursts.

 

16. GATHER ALL THE PROPER FORMS

Obtain all forms necessary for the legal sale of real estate in South Carolina. Obtain and have the following forms ready:  Offer To Buy/Sell Real Estate, Property Disclosure, Lead Paint Disclosure, HOA & Regime Disclosure & Addendum, Elevation Certificate, Due Diligence addendum, and open an Escrow with an Attorney. 

 

17. NEGOTIATE THE FINAL TERMS OF SALE

Negotiate with buyers all final terms of the sale including price, financing, inspections, date of closing, date of possession and other pertinent considerations.

 

18.  VACATE HOME FOR INSPECTIONS

Buyers will want to hire an Inspector to go through your home's electrical, plumbing, and check for any damage, etc... Buyers may also require a Termite, Dry Rot and Mold Inspection.


19. PLAN A FINAL WALK-THROUGH

Plan a final walk-through with the buyer before the settlement process is complete in order to resolve any disputes. Have a witness present.

 

20. LOCATE AND NEGOTIATE YOUR NEW HOME

While you are marketing your current property, locate and negotiate to purchase your next home. Try to schedule both transactions so that they close simultaneously.

 

IF THIS ALL SOUNDS TOO DAUNTING PLEASE REMEMBER THE TOP Charleston AGENTS TEAM AT BERKSHIRE HATHAWAY IS HERE TO HELP YOU

Many people are very comfortable in the role of "For Sale By Owner."  You may find that you are one of those people. Whether you choose to sell your property alone or prefer to work with a real estate sales professional, we are here to help you at any stage of your home selling process. Don't hesitate to call me… even if you just have questions.

 

Michael Smith, Broker

Top Charleston Agents with Berkshire Hathaway

Charleston, South Carolina
michael@TopCharlestonAgents.com

Call or Text for a FREE CONSULTATION:  

843-580-6251
or visit: TopCharlestonAgent.com

Blog author image

Michael Smith

Michael is a happily married father of six kids. They currently reside just south of Charleston on James Island and love living near Folly Beach! Michael has a passion for Buying and Selling homes and....

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