You can put a little more of the proceeds of your home’s sale in your pocket if you eliminate the commissions paid to real estate professionals. Sell your own home or sell it to an investor instead.
Fort Worth House Buyers: If you would like to keep more of the profit in your pocket when you sell your home you may want to try selling it yourself. For Sale By Owner, otherwise known as FSBO, is a growing trend in the real estate world as more and more people are disappointed in the low prices their homes can sell for. In order to minimize the expense of the sale process, there are several websites that can help you to do it yourself and avoid paying commissions to real estate professionals.
The price you get for your home may not be as much as what you need to pay off your home loan. When the bottom line profit is so close, that commission money could be just what is needed to get the loan paid off. Selling your own house is fairly simple with the help you get from online FSBO sites to guide you through the process. The thing you will definitely need, however, is plenty of time and patience.
You must be thorough in creating your listing and setting a good price that will attract buyers, yet leave you enough of the proceeds to pay off your mortgage and any liens that may be attached to the property. This would include mechanics liens for repairs that are unpaid, second and third mortgages, and the proceeds of lawsuits in which you are the defendant and have lost your case. Taxes must be current as well, or they will be taken from the proceeds once the house sells. Know exactly what you owe to whom when you list the house and make your sale plan.
Be Prepared to Negotiate
With your buyers and be ready to compromise a little. You don’t want to lose a buyer who will buy your $250k home because you aren’t willing to pay for a $200 home warranty plan to make the buyer happy. Sometimes inexperienced sellers get bogged down in details and fail to look at the bigger picture.
Other considerations for home sellers include basic knowledge of the paperwork involved in a real estate transaction and the court filings to make it legal, marketing the listing, spotting buyers who aren’t qualified to buy your home, how to show your house effectively, and resources that will be helpful like real estate lawyers, home inspectors, contractors to do basic repairs as requested, and appraisers.