Selling "For Sale by Owner"?

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Rule #1 

Know The Real Value Of Your Home!

One of two things will most likely happen if you do not know the true market value of your home:

First, if you over price your property you can lose prospective buyers who might have otherwise purchased your home at the proper price.  There is another problem with over pricing a home. When a property is on the market for an extended period of time it will typically sell for a lower price than comparable properties in the neighborhood. Buyers may feel you are more desperate after a long period on the market. Or, they may feel there is something wrong with the property.

If you under price your property you will cost yourself thousands or even tens of thousands of dollars. 

Knowing your property's true market value helps you gain the most appropriate sales price. This knowledge allows you to know your negotiating options and concessions you can offer to sweeten the deal. For example: Knowing your property value is $200,000 but you are willing to accept $195,000 helps you structure an attractive deal. You may wish to help a buyer purchase your home by offering the property at $200,000 with $5,000 in closing cost credits.  This method opens the door to many more buyers who are cash poor but want to buy your home!  Lowering your price does nothing to help a cash poor home buyer.

You can find out more about your options to gain the market value of your home by using our Value My Property resource.

Pre-Qualify for your own mortgage financing! It might surprise you how many property sellers will market their property, find a willing buyer and enter into a legally binding Purchase Agreement; then apply for their mortgage financing to purchase their new home! In today's tumultous lending market there is no assurances that you will be capable of obtaining your mortgage financing.  Unfortunately, you have entered into a legally binding contract to sell your property.  Many home sellers have become renters this way! Use our Virtual Loan Shopper to compare rates and closing costs and apply directly with one of dozens of lenders.  You will receive an approval in minutes! If there is a problem, you will find out what issue may restrict your mortgaging ability.  If there is a problem, you will want to know now! You may wish to read our resource on the loan process.

Once you find an interested buyer, Set The Hook! Learn how to use Seller Concessions to help a potential homebuyer Buy Your Home!