If you are thinking about selling your home without an agent, you are not alone. More than twenty percent of properties for sale are FSBO and this is becoming more popular each day. This is beneficial to both buyer and seller. Sellers benefit by keeping all of the profit and buyers are often attracted to FSBO homes as they are generally priced less than those who will be giving big commission checks to agents.
For example, if you were to sell your home for a final negotiated price of 300K, and the agent was to receive 10 percent, your profit would be 270K. If you go it alone, your final negotiated price could be 285K, thus giving you an extra 15K and saving the buyers 15K. In the end, both sides end up happy and receiving a great deal.
Let’s talk about how to handle some of the important steps of the FSBO process. Unless you own two properties, you will want arrangements in place for the home that you are to move into when your current home sells. Whether your home sells in three days or three months, you will feel secure if you have already been pre-approved for a mortgage if needed and if you have done a fair amount of house hunting yourself so that you are very familiar with where you will want to move to and the type of home that you will be able to afford. Be sure to check out neighborhoods and other elements that are important to you, so that should your home sell very quickly, you will not be caught off guard. You can, however, have a clause in your agreement that you will be allowed a certain number of days to move out, or even that they sale will not finalize until you have purchased your next home.