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How can we make a quick sale for our home? Use a realtor or for sale by owner?
Posted under Sell house quicklyOur home has been on the market for 7 months now. At first we had an agent from Remax for six months and now we signed with an agent from Exit. We have had no luck what so ever. They don’t seem to be avertising very well so we are wondering if we should just go ahead and list for sale by owner and we can do all the advertising ourselves. Not to mention we could lower our asking price a good $10,000-$15,000. We bought our home through for sale by owner so we know a little bit about the process. We are not looking to make a huge profit off of our home with the way the market is, we want to move out of state and are only looking to get a price in which we can pay off our remaining balance on our loan. We did lots of remodelling already and always try to keep it nice and tidy but this house will not sell.
Try the FSBO route and see how it goes, you can always go back to a realtor. Buyers are often struggling to come up with the cash for a down payment, so consider creative ways to help them conserve cash. If they express needs during the showing, a remodel of a room, or redecorating, consider offering to prepay work with a contractor prior to closing in exchange for a full price offer, vs the normal %discount most people are accepting in your area off list price. Price the house 5 to 10k more than you are willing to take, and indicate willingness “to work with” a buyer who seems interested but wants something done to the house to make it just right for them.
if you know what you can get for your home, just advertise it yourself. you know your home best and can do the best at showing its selling points. when we sold our home using an agent, they would just send people who hadn't seen the house before and they did a horrible job. dedicate your time into setting appointments, advertise everywhere. that's the best way to go.
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The problem as I am sure your are aware is the fact you are trying to sell a home in one of the worst markets in US history,
Without knowing all the facts, if you purchased your home in the last four years or earlier, their is a very good chance your home value has decreased, so there maybe a chance the note value is higher then the appraised value, negative equity
You may want to have an appraisal done on the house, if the appraisal comes in lower then what you need to sell, you may not be able to sell
since any one purchasing your house would most likely need a mortgage, the mortgage company will only right a note for the appraisal number hence even if you find a willing buyer at your price they may not be able to get a note for that price
very common problem in today's market
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I think you should try the FSBO route and see how it goes, you can always go back to a realtor.
Buyers are often struggling to come up with the cash for a down payment, so consider creative ways to help them conserve cash. if they express needs during the showing, a remodel of a room, or redecorating, consider offering to prepay work with a contractor prior to closing in exchange for a full price offer, vs the normal %discount most people are accepting in your area off list price.
Price the house 5 to 10k more than you are willing to take, and indicate willingness "to work with" a buyer who seems interested but wants something done to the house to make it just right for them.
good luck!
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well the market sucks.. and why in gods name would you not advertise EVEN if you use an agent?
a co-worker had there home sold in 3 weeks going though remax and spending some money on advertising, local tv stations, home buyer magazines ((the free publications)) and online though various institutions… wellesbowen, homes.com, remax's own website and many more, even craigslist…
you need to stop being lazy.. competitively price your home… drop your asking to 10k less then the average of the neighborhood your in (if you can afford it) and do some research on the local neighborhood.. the county auditor should have the land and home values on every single house on your street…
i just bought a home that was listed only 3 days prior… its alla bout price and what your willing to give the buyer.. appliances, a finished basement, a good kitchen… how "energy smart" is your furnace and water heater… also how "green" is your home thats the big one.. buyers today do not want to do any work… if they do they move on the market is saturated with property that doesn't need fixed up at all…
big ones:
good lawn no dead spots
newer roof (1 layer or Tear off)
also a good grade in the lawn so water goes away…
vinyl siding or brick
not in a flood zone
no high power lines near buy
no trains
no busy streets
if YES to above, sound barrier wall?
newer kitchen, counter space is a big one
finished basement or 2 car garage
((no sign of water damage or smell))
FHA approved plugs in bathroom and kitchen
FHA approved wiring in basement attic
that was our list… and we found a lot that fit it… it came to price in the end…
we turned down homes before we even saw them because they didnt even meet our needs on paper so… buyers are very picky as they are allowed to be in this market…
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If you don't need to cash out right away to move, you could go to Lease2BuyUSA.com and they will advertise your home for you. It's FREE (NO Realtors commission) and they can usually get you Fair Market Value. They'll pre-screen a qualified tennant/ buyer, place them in a credit repair program and if you're worried about a tennant tearing up your house, they require the tennant to provide for insurance if they damage anything. They also require the tennant/buyer to put down a significant option payment along with the first months lease payment. This insures the tennant is well vested into the agreement and not likely to walk away or damage anything. Hope this helps. Just go to http://www.Lease2BuyUSA.com
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Bryant Starnes-Managing Partner Lease2BuyUSA.com
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