Selling Your Own Home An Outline

Selling Your Own Home An Outline



Selling Your Own Home - An Outline
Selling your own home can be a​ time-consuming and frustrating process .​
Though listing with an​ agent is​ probably the​ best plan,​ I​ won't leave you​ do-it-yourselfers without some helpful information .​
In the​ right market,​ it​ may make sense to​ save the​ commission and do it​ yourself - if​ you​ know what you​ are doing .​
Use the​ outline here to​ do it​ right,​ and to​ avoid common mistakes.
First Understand Home Value
It's not what you​ think your house is​ worth,​ and it​ doesn't matter how much you​ put into it .​
The value is​ only what it's worth to​ potential buyers .​
See what they've paid for similar homes before you​ decide on​ a​ price .​
Do a​ market analysis - don't just guess .​
Over-pricing can cost you​ as​ much as​ under-pricing.
Selling Your Own Home - the​ Rest Of the​ Story
Be objective .​
Get your most honest and open friend to​ walk through the​ house with you​ .​
He or​ she will see problems you​ didn't even know were problems .​
Sell the​ home to​ him,​ telling him all the​ benefits of​ buying your house,​ and get his honest opinion of​ your sales technique.
Make a​ thorough plan .​
What will your kids say to​ those who call? Where will you​ close? Will your documents be prepared by an​ attorney? Plan well,​ and it​ will all go smoother.
Make a​ list .​
What needs to​ be repaired,​ cleaned,​ changed,​ or​ removed? Always do the​ most obvious things first .​
More on​ this in​ coming chapters.
Prepare the​ house for sale .​
Beyond the​ obvious cleaning up and repairing,​ look for easy improvements that will increase the​ value of​ the​ home.
Prepare your sales pitch .​
List any questions buyers might have,​ and be ready with answers .​
Prepare comparison sheets showing other home sales,​ so buyers can see the​ value in​ your home .​
Make a​ map showing nearby stores and libraries,​ etc .​
Sell the​ benefits,​ not the​ features .​
Never say near stores .​
Instead,​ say you​ can walk to​ the​ store in​ five minutes .​
Don't just say garage .​
Try No chipping ice off the​ windshield in​ the​ morning.
Put crucial information your advertising .​
Include the​ square feet,​ the​ number of​ bedrooms and bathrooms,​ the​ address,​ your telephone number,​ and the​ price .​
If you​ leave out the​ price,​ some buyers just won't call,​ plus you'll waste time with others who shouldn't be calling.
Listen to​ buyers .​
One mistake sellers make talking to​ buyers is​ to​ get defensive about their home .​
Listen to​ the​ criticisms,​ and resolve them or​ ask how important the​ issue is​ to​ the​ buyer .​
In other words,​ try to​ learn a​ little about selling.
Have forms ready .​
You don't want a​ buyer to​ say,​ I​ love the​ house .​
I'll get an​ offer form somewhere tomorrow and then I'll be back .​
He might see another home he likes before then .​
Have copies of​ an​ offer to​ purchase,​ or​ purchase agreement form ready .​
In real estate it​ is​ only legally binding if​ it​ is​ in​ writing .​
When you​ are selling your own home,​ you​ need to​ have ready the​ same tools that a​ real estate agent would have.
Have a​ clear sales agreement .​
Be sure it's understood by both sides .​
What happens,​ and when? What if​ the​ buyer doesn't get financing? What's included with the​ sale? When will the​ buyer take possession? Who pays the​ closing fee and the​ transfer tax? More on​ this in​ later chapters.
Make closing easy .​
Choose a​ closing company before you​ even have an​ offer .​
Have documents ready to​ sign .​
Prepare answers to​ likely questions .​
This will probably be the​ largest financial transaction in​ your buyer's life,​ so make him comfortable.
Use this basic outline,​ and you'll be doing better than the​ average seller when selling your own home.




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