The Truth About For Sale By Owner

Welcome to The Truth About For Sale By Owner

Selling Your Own House Tips, 1-12

1. Pay attention to the market! You stand a better chance of selling your home by owner at the price you want if the current housing market is hot. Remember, if you sell in a hot market, you will most likely be buying in the same market. Make sure you respond quickly to offers and be prepared to be aggressive in your search for your next home.

In a weak market your home may stay on the market longer than you originally planned. You are in essence in competition with other homes being sold in your area. Make sure you take care of all necessary repairs and consider taking back a mortgage (VTB-Vendor Take Back) if the market is really slow and you do not need all your cash immediately.

2. Never overprice in a weak market! Your selling price is determined by the current market not by an appraisal, nor by what you want or have to get out of the sale. If your house is not priced competitively for the current market buyers will be looking at other properties not yours. The longer your house stays on the market the greater the risk of incurring additional expenses such as carrying costs and upkeep.

3. Do not become a stale listing! The longer your home is on the market the less likely you are to get full price. If houses in your area are selling (especially by sale by owner) and you are not getting any serious offers, make changes! Re-think your asking price, offer incentives or make some improvements or repairs. Then make sure your changes are mentioned in your advertising.

4. If something needs to be fixed, fix it! Make sure you make all the necessary repairs even the little ones. They are most likely the least expensive of the repairs to fix. Do not think potential buyers will not notice the little things, they do. Little repairs can add up to look like to many repairs and turn buyers off.

5. If large repairs are necessary do them before your house goes on the market! - If this is not possible, adjust your asking price accordingly. You need to be honest and up-front with your buyer. If you try to hide large repairs you are going to get caught and lose the buyer and your time. In this business, time can certainly costs you money.

6. Never Lie or Exaggerate! Just give your perspective buyer the facts. If you lie or exaggerate about room size or unfinished basements or anything else about your home, you're going to turn buyers off. Buyers will not want to deal with someone who misrepresents the property.

7. First Impressions! A well-kept yard free of clutter will get them out of the car and on to your doorstep. Make sure the front of your house has good curb appeal. An unattractive messy front yard will put off a prospective buyer before they even get out of the car. Improve the view of your house from the street by sprucing up shrubs, shutters, windows, front door and even the mailbox. If a coat of paint is necessary, than paint it. Remember to cut the grass and clean the windows.

8. Make sure your house is always clean! You only have one chance to make a good first impression. Prospective buyers are looking for a home, they want to be able to picture themselves in yours. What is the first thing you noticed when you were looking to purchase your home when you entered a house? If the house was dirty you were turned off, you could not possibly see yourself in a dirty house. Your perspective buyers are no different, make sure your home is CLEAN.

9. Make sure your kitchen is spotless! This will be one of the most scrutinized areas in your home. Some prospective buyers will judge your whole house by how clean your refrigerator and stove are even if they are not part of the deal. Clean your kitchen counters and make sure that they are not all cluttered up with knick-knacks and small appliances.

10. Clean and organize your garage! A clean and organized garage will look bigger and allow perspective buyers to envision their possessions in the garage.

11. Do not forget the master bedroom! Take some time and arrange the furniture to create a feeling of spaciousness and make sure the room is clean. Make the master bathroom sparkle, it will be inspected.

12. Remember your closets! Clean out your closets, spare rooms and yes, even your basement. Never try to hide your junk, rent a small storage unit and store things in it that take up to much room or you do not have a place for it. It is also a good time to have a garage sale or donate items not used to charity.