Contracts are created to focus on the legally binding aspects of the real estate transaction. It could also be that the seller is not well informed about real estate in the area, or has no knowledge of the basics of selling a home. Many buyers look to boost the price they can ask for their homes by making improvements before staging time. A plan for marketing the property, which means getting information about your home out to as many potential buyers as possible, including the internet, advertising and other means.
With real estate agents’ commissions often as high as 6 percent of a home’s sale price, it’s tempting to hang out a For Sale by Owner” sign and save the commission. For example, the most popular marketing tools for FSBOs are yard signs, with 35 percent of FSBO sellers using this method.
Sellers should consider their home’s place in the market as well as market conditions when deciding how to proceed in the sale. On the FSBO Listing page, you’ll be able to set a list price, upload photos, write a listing description, edit home facts, and add your contact information.
Straight For Sale By Owner” (FSBO) – no real estate agent around, no one being paid a 6 percent commission on the sale. If the seller does not use an agent and doesn’t know every law and required paperwork specific to their community, they open themselves up to lawsuits,” warns Ferguson.
Keep in mind that many “FSBO” Web sites are front-ends for traditional real estate companies that are looking to recruit sellers. Armed with this knowledge, you can get home bargains on houses for sale by owner. For many, the value that real estate agents bring is well worth the commission costs, particularly the shifting of legal liability.