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Posts tagged ‘home for sale by owner’

Home for Sale by Owner – An Entrepreneurial Venture for the Seller

Home for sale by owner is one of the options available for people who are looking to sell their own home. People who generally adopt this option for selling, their main intention is to save on selling costs i.e. Do the job of a Real estate agent yourself. This is a particular procedure that calls for great deal of efforts on your parts. There is a good deal of preparation to be made before you jump into project where mistakes equal to loss of money. At the same time there are some documentation procedures which are going to take some good amount of time on your part before you finally decided to list your home for sale by owner. So before you make a plunge into such an act you have to get the fact that it is going to be a time consuming venture for you.

Most important starting point is Pricing your Property!
Before you proceed into a home for sale by owner you need to grab a few details first. In the first place you will be required to keep an eye on the market pertaining to the insertions of property sales. As a matter of fact, in most cases these advertisements do not generally get flaunted or flushed in the newspapers or internet or TV that much. You are to get that info from the bee hives. Generally it is the agents who are in perfect knowledge of where to get this information from. However as you are working alone you will have to take that burden on your shoulder. A Formal Appraisal can be solution.

Handling Agreement Clauses
In a business deal such as a Home for sale by owner you will be required to keep unfailing eye on some other crucial aspects as well. For example other then the sale price you will have to take care of your own interest when it comes to various legal clauses which are added in the agreement of this type. There will always be clauses which are reasonable and there are ones which may be huge hindrance to your interest in this whole real estate transaction. If you have decided to put your home for sale by owner, best is to consult your lawyer every time you get a written offer, before you put any signatures on the paper. Home selling is not same as selling cup cakes….it is one of the biggest transactions of your life, which you have decided to handle yourself. So, please don’t try to save on lawyers fees, which you may require to pay for additional consultations as above.

Be very careful about the payment procedures
Payment procedures are very crucial in real estate transactions, as amounts are large. As you have chosen the option of home for sale by owner for selling your property, you will have to take some extra measures of precaution, as you can’t use regular real estate forms, which have a lot of pre printed legal material written on them to protect both the sides. What, Why & When are important to make sure about the money exchange procedure.