The Risks

 

It is not at all uncommon today for many homeowners to attempt to sell their home on their own, especially with the numerous FSBO tools available online. One of the primary reasons homeowners attempt to sell their home without using a real estate broker or agent is the money they plan to save on the commission.

If you do decide to sell your home on your own without an agent, beware of the potential risks.

Sales Price

The FSBO homeowner may not know what price to ask for the home when they decide to put it on the market. This lack of education of the real estate market can result in overpricing the home so that it sits on the market for a very long time, or the homeowner may sell the home for less money than it is worth by listing it too low or jumping at the first offer. Home Sale Services can assist you in setting the right price for your home. We have the tools to calculate the best price to list your home in accordance with the current selling market your neighborhood as well as the improvements and features which your home has to offer.

Legalities

Many homeowners are not prepared for all of the legalities they will have to deal with during a FSBO transaction. In a home sale where an agent is involved, it is the agent who handles most of the tasks regarding necessary arrangements such as appraisals, surveys, title insurance, contracts, etc. In a FSBO sale, there is no experienced agent to guide the seller along the way.

It is also important to know that when selling your home on your own you are exposing yourself to numerous legal liabilities. The seller’s disclosure statement alone is fraught with several risks. Unless you’re extremely familiar with the legal end of selling a home, you could find yourself in real trouble. Home Sale Services is owned and operated by attorneys so you can rest assured that the Agreement of Sale and Seller’s Disclosure Statement are prepared properly and in accordance with the laws of the Commonwealth of Pennsylvania.

Selling the Home

When you’re handling everything on your own you could easily find yourself working with a buyer who simply isn’t financially qualified to purchase your home. As a result the deal may fall through before it ever closes and you will have wasted a significant amount of time and expense in the process. Home Sale Services will assist you in setting time limits that fit your needs to avoid this type of situation.

Selling your home yourself properly will require a good amount of time invested.  Not only will you need to spend time marketing your home but you will also need to spend time following up on leads, answering phone calls, scheduling home showings and dealing with significant amounts of paperwork. Selling your home on your own may require time and effort on the part of the homeowner, but you will save thousands in realtor commissions by doing so.

To sell your home quickly, and for the highest dollar amount, you will need to utilize a multi-pronged marketing approach, which will take up time and will require some monetary investment. Post a For Sale sign in the yard, adding a flyer box which you keep stocked with pamphlets showing off the home’s attributes. Use color photos! Take out ads in the local newspapers and check into websites that provide listings for FSBOs. Host an open house event. Keep the home tidy and uncluttered.  Be flexible on showing times.

Another important safety precaution is to make sure you hire a competent attorney experienced in real estate law to help guide you along the way. The small investment could keep you from being responsible for much higher legal liability costs. Home Sale Services is owned and operated by the law firm of Keenan, Ciccitto & Associates. An attorney will prepare the Agreement of Sale for you for the low price of $750.00.