For sale by owner.

badmomma · #1 09-12-2009, 02:14 AM

For sale by owner signs seem to be popping up everywhere. People are trying to sell their homes alone.

Now as to whether or not this is a good idea is beyond my scope of knowledge. I have never tried to do it by myself.

There seems to be alot of work involved. You need to get the proper paperwork. A contract needs to be written up for the sale of the home.

I did find some on the internet but it is so lengthy and involved that I am not sure that I could fill it out alone. I also think that I would have an attorney on retainer just in case.

You would also have to do the title insurance and all of that other stuff. How many of you have ever sold a home alone? How did you do? Did it take a long time to sell the home? Let me know how you did and your experiences it may help me and many others in the future.

Eyeofngt · #2 09-12-2009, 04:56 AM

A lot of the ones around here is sale by owner, with owner financing. I think this way is better for the buyer if the owner finances. That way helps both out.

JaredfromIndiana · #3 09-12-2009, 11:37 PM

Quote:

Originally Posted by badmomma

For sale by owner signs seem to be popping up everywhere. People are trying to sell their homes alone.

Now as to whether or not this is a good idea is beyond my scope of knowledge. I have never tried to do it by myself.

There seems to be alot of work involved. You need to get the proper paperwork. A contract needs to be written up for the sale of the home.

I did find some on the internet but it is so lengthy and involved that I am not sure that I could fill it out alone. I also think that I would have an attorney on retainer just in case.

You would also have to do the title insurance and all of that other stuff. How many of you have ever sold a home alone? How did you do? Did it take a long time to sell the home? Let me know how you did and your experiences it may help me and many others in the future.

This would be like me saying to you to take the month off and I will do your job. There is a lot more that can go wrong than right when you try to sell your home yourself.

What purchase agreement are you using?

What about title insurance? Survey? Appraisal? Inspection?

What about marketing? Do FSBOs know how to market their house so it gets the most publicity possible?

Of course some FSBOs happen without problems, but the money you think you will save by not paying a Realtor is money well spent for the peace of mind of having somebody sell your house that knows what they are doing.

My two cents.

badmomma · #4 09-14-2009, 03:33 AM

Jared as always your input is so helpful. This isn't something that I myself would try to do. It just seems to me that as you stated so many things could go wrong.

I really don't want to do all that extra work. I want to sell my home and then buy a new one. It should be as painless as possible. Now I am not ready to do so right now but when I am ready I will be using an agent.

JaredfromIndiana · #5 09-14-2009, 12:25 PM

There is a lot that goes wrong when a Realtor is involved too, just better chances of handling it if you know what your doing.

When you do get ready to sell let me know and I would be happy to find a Realtor for you in your area.

badmomma · #6 09-21-2009, 04:41 AM

Thank you very much I know I can count on you. You have always been honest and forthright and that is very important to me.

I am conserned for those who choose to sell their homes this was as there is so much to do and without the proper knowledge you could end up with problems you just can't handle.

luv2flip · #7 10-16-2009, 01:23 PM

You see that everywhere, where I live it is also like that.

troubles74 · #8 02-21-2010, 12:02 AM

I got lucky when I put my house up for sale,it was for sale by owner,but I had a good friend who was a real estate agent to help me in my time of need.She was able to give me all of the information that I needed to be able to sell my home.Taxes,appraisal,inspection,and all of the forms that I needed.I did give her a little from my profit once the house sold for her help though.

We also had a Lawyer,just to look over the paperwork and make sure that everything was in order.He didn't charge a whole lot to do that for us.All in all we saved about 10 thousand dollars doing it this way.

luv2flip · #9 03-09-2010, 02:56 PM

I see those signs every where myself, the one thing I know of by selling this way is no Realtor cut, so more money for yourself.