Many homeowners are taking real estate matters into their own hands, especially when it comes to their own homes. Some of the most difficult tasks FSBO sellers encounter are selling their home at the right price, understanding paperwork and selling within a planned length of time. In this blog, we discuss how to effectively sell your FSBO home.
The Right Price
The first step to selling your home is to figure out a price. Overpricing your home can reduce the buyer's interest, make the competitor homes look more appealing and could also lead to mortgage rejections once appraised. With FSBO homes, overpricing is the largest reason why homeowners have a tough time selling their homes successfully. So how do you set the right price? Usually, if you set your home’s price 5 to 10 percent above market value then there’s a good chance that you’ll end up with an offer close to your home’s true value. Another tip is to set the price just below a whole number, for example, price the home at $279,000 instead of $280,000.
Presentation is Key
It’s no secret that in order to sell your home, it needs to look inviting. Many potential home buyers are attracted to clean and spacious interiors with a cozy atmosphere. To make your home inviting for everyone, there are a few simple tricks you can do. First, remove all clutter, removing clutter can make your home appear cleaner and more spacious. Secondly, add new aesthetically pleasing touches such as planting flowers, fixing anything broken such as tiles or even a fresh coat of paint. These simple tricks can help your home stand out from the competition, making your home more attractive to potential buyers.
Hire a Reliable Lawyer Experienced in Real Estate
One of the wisest investments you can do with an FSBO home is to hire an attorney. An attorney is there for you during the process and can answer any questions you may have as well as help with paperwork. A lawyer will not only protect your interest throughout the entire process but can also help you evaluate complicated offers and mortgages as well as review contracts and handle the closing process of your home. Lastly, one of the best perks of hiring a real estate lawyer is that you avoid commission fees as they earn their fees either hourly and/or with a flat rate. This also means that a buyer is protected and a seller doesn't have to pay commission to an agent after the sale. An experienced lawyer can also guide you on what needs to be disclosed to buyers before a sale. Hiring a lawyer for your FSBO home can give you the peace of mind during the process and can help guide you every step of the way.
At Aldrich Legal Services, our attorneys represent clients in all areas of real estate law, including commercial buildings, shopping centers, condominium development, apartment buildings, undeveloped land, cooperative apartments, condominiums and single-family homes. Our founding attorney, Brad Aldrich, is a knowledgeable real estate lawyer with more than 20 years of legal experience. He is a licensed real estate broker and owns multiple commercial properties. If retained as your counsel, we will protect your rights and use our experience to further your interests. Contact us today at (734) 404-3000 for more information.