An agent will not only finds a potential buyer for your property but also takes care of other legal procedures and formalities involved in that. If the house owner decides to sell the property on their own, without approaching to an agent, then he or she must plan accordingly. Here are some tips.
10 Inside Tips for Selling Your Home – For Sale By Owner
1. Your Personal Timeline
Evaluate your property at least two months before listing. Also, add transaction costs such as registration. Note down your needs and goals like profit you are expecting, the time you have with you. Urgency determines the price. If you are in a hurry you may have to sell at low price.
- Finalise the Price
Research the local market and finalise your price one month before the listing. Check the recently sold properties of your locality. Add up all your mortgage values, repair costs, transaction cost.
- Get Ready to Sell
Declutter, Clean and stage your house. Clear out all the debris in your house. You can rent your house for any cloth storage unit or sporting equipment, goods or food storage units in your space while hunting for a buyer.
- Staging or Renovating home
Staging is the process of remodifying your house with positive changes and decorating it beautifully. It may involve renovations such as painting.
- List the property
List your property in renowned property sites. Upload photos of your home and neighbourhood.
- Market Your Property
Market your property by displaying banners on your home and also on shops and open plots in your locality.
- Prepare Paperwork and Closing
Prepare for closing paper work. It includes the following documents.
- Cooperate with home inspector
- Provide buyer and buyer’s agent with all legal documents
- Contact your banker to start mortgage payoff.
- Make your own arrangements to move
Selling a home always requires your time, attention and energy. When you sell by owner, you can have maximum benefits. If you go through an agent you have to pay them, some part of your profit, as commission.