Essential Pointers When You Sell Your Own House

by Jennifer Bowers on February 11, 2012

Below is a primer on how to sell your own house.

Here’s How You can Sell Your Own House

Educating yourself on how real estate transactions happen is the first thing that you would need to do. Not only are there online guides, but there are also a lot of books on the subject at your local bookstore. When you decided to sell your own house, you are considered a FSBO seller [for sale by owner]. This FSBO market is growing like mad, which means you can find form contracts and agreements ready made for your particular state.

Generally, real estate laws are governed by states, not the federal government and this is the second thing you need to realize. What this means is that the particulars of real estate transactions in your state may be different from those in another state. You should look for references related to your state, not nation wide advice. Nonetheless, here are a few universal pointers.

The price of comparable homes in your neighborhood is what you should try to determine. Doing this will give you a very good idea of what you can ask for your house when you put it on the market.

Make a list of things that need to be fixed aside from objectively looking at your home. Selling a house often comes down to the details. Buyers are going to be very picky about little things due to the fact that they make big investments.

At sites such as FsboAmerica.org, you can list your house online with photographs.

Post flyers or ads in your local property listings magazines.

Put a sign on your lawn indicating you are selling.

A box with flyers describing your home and the asking price is what you can place on the sign post.

Open houses should be held so that buyers can view your house.

Before all open houses, be sure to clean your house. Add fragrant flowers to rooms, mow the lawn and so on.

Through a garage sale and the trash, you can get rid of your junk. Here, cleaning out the garage and basement will be included here. Make sure that everything is pristine.

Create a documented record of all the improvements you’ve made to the home to show potential buyers.

In the offer and counteroffer process, you should be conversant.

Develop a clear understanding of what happens during closing and make sure you’ll be able to take care of your part.

There are things you should figure out when you sell the house such as are you going to buy another house and when will you move?

While these guidelines will take you a long way, it is important you understand the specific laws of your state. Once you have those down, the process typically goes fairly smoothly. Any bumps in the road will be more than worth it when you consider that save thousands or tens of thousands of dollars in real estate commissions.

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