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SOME FINAL TIPS:
Well, we've covered a lot of ground together in this FSBO Package. As you've learned, there's quite a bit that you will necessarily be responsible for it you decide to go it all alone. And many people do for various reasons. In any case, here are some last minute reminders that you may add to your growing list of things to do. I wish you all the luck in this venture, and ask you to please consider me in the future for your home buying and selling needs. I will be glad to help and take much of the burden off your shoulders!
TIPS FOR THE “FOR SALE BY OWNER”
Trying to sell your house yourself can bring substantive rewards or unmitigated frustrations. Here are a few tips to smooth the process:
HOME SELLING IS COMPLEX, SOMETIMES SCARY
No matter what part of the country you hail from, there are stories about house sales that will make you stop and wonder if it's all worth it. People will do the craziest and unexpected things. But somehow it will and does go forward. People who don't know each other find reason to agree. And most sales end up for the better of both parties.
For instance as was reported elsewhere, some years ago in the residential real estate owners in the four-county Milwaukee area, there was placed a total of 5,720 homes, duplexes and condominiums on the market. Their offerings ranged from ramshackle rat traps to princely mansions, from spit-polish colonials to broken-down bungalows in the sort of abject decline that appeals only to the naïve or the handy. During the same time, January through March, a total of 1,954 Milwaukee-area homes, duplexes and condominiums were sold, according to the Multiple Listing Service (MLS), a clearing-house that lists properties and disseminates information about them. Most of those sellers were aiming for a clean, fast lucrative sale. The buyers, on the other hand, were conjuring up visions of a clean, fast bargain. Somehow, they got together. That scenario will be re-enacted again and again, each year, for springtime is traditionally boom time in the real estate market. And so it goes...
But there are some horror stories, horrible enough to flip Hitchcock facedown in his grave. There was the young couple with small children, proudly showing their starter house to a finicky prospective buyer. When they got to an upstairs bathroom, the sellers were mortified to see – and smell – the unflushed remains of their young son’s diarrhea. The buyer fled.
There was the yuppie couple who spent a small fortune redecorating their home in trendy new jewel tones to attract buyers. But the buyer’s weren’t impressed. Before the ink was dry on the closing documents, the new owners had marshaled a platoon of painters; carpet layers and wallpaper hangers to redo it all. Everyone has different tastes. Then there was the man who showed his home at dusk and refused to turn on lights so the buyer wouldn’t notice brown water marks on the foyer ceiling. The buyer noticed…after he bought. The buyer turned out to be a lawyer.
There was the woman who advertised her house for sale by owner only to leave everything unattended, a week later sashaying off for a Florida vacation. Still, she wondered why her house languished on the market. Selling a house is a complicated and risky business, and the risks of doing it wrong can carry huge consequences.
Real estate experts view their markets as constantly changing. Here in Asheville, we have seen a lot more stability than most other parts of the nation, primarily because it's a great place to live, its growing, and retiree's seem to see it as their promise of a carefree retirement. But people will be people and will generally perform unexpectedly. By being fair-minded from the start, keep all that you do honest and above board, your journey will be a lot more pleasant than not, and the man in the mirror will remain your friend! Good Luck!
STILL MORE QUESTIONS AND ANSWERS
Q: What does a real estate broker do for the seller?
A: Through MLS contacts, the broker can expose the property to a great number of potential buyers. Many brokers here also are tied to national relocation networks that attract transferees. They often are the most motivated buyers.
The agent helps a seller set the price by doing a market analysis, taking a survey of the house and property and looking at recent comparable sales in the area. The agent provides and eye-appealing yard sign, a legal description of the property including a lot size and tax information and an information sheet on the house including photograph. He also determines whether the property conforms to local codes and helps the seller determine what steps to take to get the house ready to sell.
The agent can provide a contract for a home warranty plan, and acts as a liaison between buyer, seller and the home warranty company. In the final phases of the sale, the agent gets together the title or abstract, collects tax information, oversees home inspection schedules and keeps the seller informed as to how the buyers are working through the financing process.
Q: Why do people try to sell on their own?
A: Independence, spawned by fear a broker will pressure them. Or they feel they can successfully market the house and save the broker’s commission. According to nationally syndicated real estate columnist Edith Lank, fewer than 1 in 10 homes nationwide sells without a broker.
Q: How do you find a good real estate agent?
A: Look for a person compatible to your own personality, someone with training, experience, enthusiasm and a professional demeanor, someone referred by friends who have sold a home recently or who specializes in your area of town. Also go here.
Q: How much should I do to the house to get it ready for sale?
A: Give it good road appeal by tidying up the lawn and planting flowers. Touch up exterior paint. Make sure the inside is spotless and uncluttered. Ask a friend or relative to store the excess from closets, attic and basement. Repair small items such as silent doorbells, sticky doors, and drippy faucets. If major items such as the roof, carpeting or basement walls need substantial and costly repairs, get written estimates and have these available for buyers to read. Bargain accordingly.
Q: What’s the best way to negotiate?
A: If an offer meets your financial expectations and timing requirements, accept it. If the price is right but other details are wrong, counter the offer and keep the lines of communication open.
Remember: Keeping in mind these final tips For Sale By Owner can make all the difference when buying and selling a luxury home or finding that special piece of Asheville Real Estate with Kathleen Blanchette, a fully licensed Keller-Williams Asheville Real Estate Broker and Realtor, is a comprehensive and thoroughly professional experience in buying and selling Asheville Real Estate throughout the Blueridge and Smokey Mountains, where efficiency, personal regard and concierge services are guaranteed every step of the way. Keeping the Tradition of Integrity..., and a Reputation for Results!