20 Steps to Setting Your Own Home

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Many people are very comfortable in the role of “For Sale By Owner.” You might just be also one of those people. Whether you choose to take on the task of selling your property alone or

prefer to work with a real estate sales professional, I will be happy to help you get started by providing your with a complimentary HOME MARKET EVALUATION. Feel free to contact me today to put the power of Homesale Realty to work for you.

 

The real estate commission earned by a real estate professional on the sale of your property can be a considerable sum of money. And we know that you’ll agree it’s tempting to try to save that

commission by selling your property yourself. So, if you decide to market your own property, we invite you to consider the following steps that you must take in order to save the real estate commission.

 

  1. Do Your Research

Carefully research information regarding the prices and terms of sales in today’s

real estate market. Investigate recent sale prices for properties similar to yours in

your immediate area. Then establish a realistic price for your property based on that

information.

 

  1. Conduct Your Own Mini-Walktbrough

Make notes of all items that need repair or improvement. Your checklist might include:

  • Fresh, clean paint throughout • Plumbing and all appliances in
  • Clean windows and window coverings working order
  • Well-manicured lawn and yard

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  1. Make All Necessary Repairs
  • New or cleaned_ carpet
  • All sealants (window, tub, shower, sink, etc.) in good condition

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

Mortgage planning

  1. Determine Your Financial Alternatives

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

 

  1. Investigate the Internet

Determine which Internet sites will best advertise your property. Call them for rates

and posting instructions.

 

  1. Establish a Budget

Establish an advertising budget. Prepare a contingency advertising budget in case

your home does not sell as quickly as you anticipate.

 

  1. Prepare a Marketing Plan

Prepare a professional marking plan that will attract the right buyers to your property.

Upload your information and photos to the Internet.

 

  1. Target Out-of-Town Buyers

Prepare a plan to reach those out-of-town buyers who account for a major protion of

today’s home purchasers.

 

  1. Purchase an Outdoor Yard Sign

Purchase an eye-catching and weatherproof yard sign; install it in the front of your property.

 

  1. Schedule Open Houses

Schedule and conduct open house weekdays as well as open house weekends. Make your

property more inviting by placing freshly cut flowers or burn scented candles.

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  1. Advertise Your Open House

Purchase special “open house” signs and position them in paths that lead from main roads or thoroughfares to the property. Put these signs out each time you hold an open house and be sure to take them down after each open house.

 

  1. Prepare a Fact Sheet

Prepare a “feature/benefit” fact sheet outlining specific features of your home and the

corresponding benefits to prospective purchasers.

 

  1. Always Be Available

Be available at all times so that you can walk through the property with prospective buyers to answer their questions and offer information about the local area.

 

  1. Respond Promptly to Inquiries

Respond to telephone and e-mail requests for information in a timely manner. Learn how to separate the “lookers” from qualified buyers.

 

  1. Be Prepared to Negotiate

Be prepared to negotiate with the buyer(s) as though you are an impartial third party.

Remain calm and refrain from any emotional outburst that might spoil a sale.

 

  1. Gather All the Proper Form8

Obtain all forms necessary for the legal sale of real estate property, such as: Deposit

Receipt, Offer to Purchase, Buyer’s Cost Sheet, and Seller’s Disclosure Form. It is imperative that all known defects be disclosed to the buyer(s)

 

  1. Determine Your Financing

Determine the type(s) of financing that you are willing to consider, such as:

  • FHA • Conventional Loan with Seller
  • VA
  • Seller Carryback First Loan
  • Carryback Second Loan
  • “Wrap Around” Loan

 

  1. Negotiate the Final Terms of the Sale

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

 

  1. Plan a Final Walkthrough

Plan a final walk-through with the buyer(s) before the settlement process is complete in

order to resolve any disputes. Have a witness present.

 

  1. Locate and Negotiate Your New Home

While your are marketing your current property, locate and negotiate to purchase your next home. Attempt to schedule both transactions so that they close simultaneously. In this way, you and the buyer are able to move at the same time.

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