Archive for July, 2009

FSBO Homes: Helpful Tricks for Sellers

Thursday, July 23rd, 2009

Selling FSBO homes is a tight competition nowadays. There are a lot of houses on sale, and prices are extremely low. If you are planning to sell your house through FSBO, make sure that you give yours an edge over all the other FSBO homes in your area.
Here are tips to give your house the stand out appeal that would give it a good deal:

  • Ask for other people’s opinions. Whether you accept it or not, you have bias for your house. You see it as a pretty house, but prospective buyers may not. This is because you have gotten used to how it looks like through the years, while other people who would see it for the first time may instantly get turned off by some little details such as old paint. It is best to ask a real estate agent to come to your house and compare it with other FSBO homes that are on sale as of the moment. They can give you constructive feedback about how you can improve the appearance of your house.
  • Make your house look new. Polish doorknobs, repaint, clean your house. Make every effort to make it look fresh and as clean as possible. After all, FSBO homes would be the new homes of whoever buys them.
  • Sell to your specific audience. Adjust how you sell your house. You can sell differently to a young family, and you can sell differently to an old couple. It is all a matter of how you can tell them the house is the best among all the other FSBO homes in your area.
  • Beautify your house. Aside from a clean house, a beautiful house is very important. However, make sure that you do not overdo it. You can place flowers in certain focal points. Flowers are safe and appear beautiful to whoever will look at your house.
  • Do not neglect the outdoors. Of course, FSBO homes should be attractive outside as they should be in the inside. Make sure that the garage is well-maintained and clean, and that your lawn looks fresh and well-kept. You can even pay for landscaping services or get your family and friends to help you out. Investing money on beautifying your house will give it the edge that it needs to be the best among the FSBO homes that are competing with yours.

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Selling via FSBO

Tuesday, July 21st, 2009

Selling your house through FSBO would take a lot of your time and your effort. But you can be successful and you can have a good FSBO deal if you know what to do. The key is to be knowledgeable in all the things you need to manage. Here are some tips for you to be able to sell your house successfully through FSBO:

  • Prepare your house. A lot of buyers would not want to buy a house that still needs a lot of repairs. This means that you have to prepare your house for resale. You can hire a house inspector for you to be able to identify areas which need to be repaired. After this, you can start the repair and groom your house for it to be attractive to prospective buyers.
  • Price your house. The price of your house would depend on a lot of things. It is important for you to know the current prices in your local real estate market. This would require some research, so you have to spend some time on this too. Also, you have to know the prices of similar houses in your area. Your house should not be priced too low or too high.
  • Market your house through the Internet. Everything is practically in the Internet. Buyers would find houses through the Internet too, and a lot of FSBO houses are also listed and posted there. This means that the competition is happening in the Internet, and you have to do your best to be visible and to be attractive there. Post in websites and forums, and include all the important details of your house, such as location, size and dimensions, and of course your personal information. You can also upload a nice photo of your house. Buyers are attracted to postings that include a photo of the house.
  • Do other marketing strategies. Aside from the Internet, you can also post on bulletin boards in your community. You can also talk to some of your friends and family and ask them to help you with it. Put a “for sale” signage in front of your house for prospective buyers who are passing by your house.
  • You can be a successful FSBO seller if you are confident about your house. All your efforts in marketing and all your preparations would be for naught if you are not confident about your house and how it can be the best choice for the buyers.

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Simple yet Helpful Guide to FSBO

Monday, July 20th, 2009

Selling your house through FSBO would require a lot from you. Aside from your time, you would also need to learn a lot in the real estate market. Here are some tips for you that can help you have a successful FSBO deal:

  • Opening escrow. This is very important. Whether you are a buyer or a seller, an escrow is highly important since it gives protection to both parties. Getting this is highly easy. As the seller, you have the responsibility to make sure that this is secured. Make sure that you understand all the provisions in the escrow.
  • Buyer inspections. As stated in a lot of real estate agreements, the buyer has all the rights to conduct an inspection. Usually, this is conducted by a professional. As the FSBO seller, you can personally help the buyer and gain their trust by pointing to them the items that need repair. Based on the results of the inspections, you would have to conduct repairs before the buyer gives their final offer.
  • Buyer appraisal. This is a very important activity in FSBO. Even if you have a very good knowledge of how much your house should be worth, the buyer still has the right to conduct their own appraisal. An appraiser may be hired by the buyer to make sure that your FSBO house is not priced at a very high price.
  • The deal. Before the deal is closed, your buyer may give you a commitment document, stating all the things you would have to do before the sale is finally completed. You should review the document well.
  • Notify your lending company of the sale. This would mean that the home mortgage for the coming months would be paid by the new owner of your house.

Closing the deal would take within 30 to 45 days from the day that you sign your sales agreement. At this time, payments are collected, the ownership is transferred, loans are paid and the clear title is insured. You would be able to have a smooth and successful FSBO transaction if you are able to take note of all the necessary things you have to mind.

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Dealing with Sellers of FSBO Homes

Thursday, July 16th, 2009

Buying a house from a real estate agent may be a lot different from buying one from the actual owner. If you see a house that you would want to purchase but is being sold by the owner, it is important for you to know that the process may be different. Here are some tips that you can use in purchasing FSBO homes:

  • FSBO sellers can be sensitive. Owners are naturally attached to their house, and may not be able to take your criticisms of the house well. Make every effort to be as courteous as possible when expressing your opinions about the house.
  • Before you seal the deal with your FSBO house, make sure that you have reviewed the documents. This would include papers that may be required by the state. You can also get a home inspection professional that would help you assess the house properly. This is because the owner of the house may not be disclosing al the information you have to know about the house.
  • Before you even go shopping for a house, make sure that you have already had your loan approved. This would give the FSBO seller the idea that you realy mean business and that you are actually purchasing a house.
  • Get everything in writing. If you can get a lawyer or a realtor, the better. Review the contract and all the other documents well before you sign and agree. Do not be so consumed with getting the cheapest rice for the house. However, do not go for houses that are priced too high. You can look for other houses, FSBO
    homes or otherwise.
  • Get a neutral third party such as a bank or a lawyer to hold your escrow funds until you and your seller both have reached your terms. Never let the FSBO seller hold the escrow.

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