10 Inside Secrets to Sell Your Home Yourself
Barb Schlinker Radio Show
719-301-1802 | 719-301-3900
Your Home Sold Guaranteed Realty Colorado
Not everyone wants to sell their home through a traditional sales process. Many people think that their homes will sell for top dollar by selling their home themselves, what are the results from selling a home by owner? I completely understand why home sellers want to save the commission. And, in some respects, it can be a simple process. I talk to a lot of home sellers throughout the year. Most do not even think about trying to sell on their own. Others find it easy. I met with a seller last night who had considered selling by the owner after they tried with another agent for 4 months. Besides not getting good advice from that agent, their home sat on the market for 4 months with bad pictures and a dead looking dormant yard well into the summer. As you could imagine the seller did not see the value in that agent’s services. The home is nearly new, on a great lot with beautiful Pikes Peak and front range views. I get why some sellers get frustrated. Typically though if a home seller decides to sell on their home, the minute they put the sign up “For sale by owner” the phone will start ringing off the hook. Unfortunately, those calls are not from buyers but rather from a lot of real estate agents who try to hound them for their listing.
If they do talk to those agents, they will be subjected to hundreds of sales pitches from agents telling them how great they are and how they can’t possibly sell the home by themselves. It can be done but you really need a team to get it done.
○I’ve talked with sellers that held their house off the market for a want-to-be buyer only to find out they could not buy. I recently had a home seller that entertained the idea of selling their home to a ‘friend’. The friend promised them an easy sale and to save the commission. That seller already had a contract with me but we were not on the market yet.
When they told me about it, I warned them to make sure that the buyer had the resources to purchase for “cash” and to make sure NOT to sign over ownership without ALL of the funds. It turned out that the buyer asked the seller to sign over the title to him for 1/3 the cost of the house and then he would ‘pay the rest later’. Thankfully those sellers did not proceed with that buyer and we just sold that home for $10,000 over the asking price in a few days. But don’t give up until you’ve read my new report entitled “Sell Your Own Home” which has been prepared for people thinking of selling their own home. It has 10 Insider tips on selling your home by yourself where you can find out what
Real Estate Agents Don’t Want You to Know. As a former trial attorney, I know the legal paperwork can be daunting, what are some things a homeowner should know about the legal documents when selling by owner?
1. Well, there are a lot of laws to be concerned about when selling a home. Many of them came about through lawsuits that took place.
➢As an example, if you have a home that is located within a Homeowners Association, the seller is required to disclose all the HOA documents, many of which are NOT recorded at the county courthouse.
➢If those documents are NOT provided to the buyer, the seller could later face a $10,000 fine plus court costs.
➢Most HOAs are now charging a fee to transfer ownership – and many times they re-inspect the property to make sure the homeowner is compliant with the HOA requirements.
○You don’t want those issues to left un-resolved selling yourself.
2. There are also issues with transferring titles that are best handled by professionals.
➢The title has found liens on the property the seller was not aware of.
➢Making sure all the mortgages are properly paid off at closing is another challenge.
➢Making sure all the owners that are transferring titles are selling in the proper names, trusts, etc.
3. I recently had one where the home was inherited and the title required the seller to wait until 120 days after the death of the former owners to close. We had to bring in an attorney to resolve that issue.
4. So, you really need a team on your side when selling a home. Moving is one of the most stressful things people do. I’m not sure I would want to do it on my own.
➢I just sold a home for a couple in which she had just given up her Colorado real estate license. She hired me to handle the sale and was very happy. I sold her home for $15,000 over the asking price in less than 1 week.
➢You would think someone with her expertise would want to sell by owner but it did not even cross their mind and they were very glad they did not sell by owner.
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