The advantages of selling your property.
What should you do to sell your own house?
Benefits of for sale by owner FSBO
Efforts needed to sell your own house
You will need to invest time and effort into marketing strategy, negotiating with buyers, and managing the paperwork. There is also no guarantee that you will find a buyer willing to pay your asking price. If you are not prepared to take on these challenges, selling through an agent may be better.
Steps to take to sell your own house:
1. Determine the fair market value.
A property’s fair market value (FMV) is the price set between a willing buyer and seller, where neither party is under any pressure to act. FMV is the benchmark for assessing costs, particularly in the case of sales or donations of property.
2. Prepare your home for the market.
Declutter and depersonalize your home. When buyers come to see your home, you want them to be able to imagine themselves living there. That isn’t easy to do if your personal belongings are everywhere. So, pack up anything that’s not essential and put it into storage.
3. List your home for sale and market it everywhere.
4. Negotiate with interested buyers.
Selling your own house has many advantages. For one, you will save on real estate commissions, typically 5-6%of the sale price. That can add up to a significant amount of money, mainly if your home is worth a lot.