Selling Home By Owner | FSBO Tips
Selling home by owner in the Lakeland area is not for the faint of heart but if you’re prepared to face some significant challenges head on, it could work for you. Of course, if you find yourself in a situation you are not prepared for, you can always employ the services of a trusted Realtor. As a matter of fact, national statistics indicate that over 80 percent of homeowners who try to sell their home by owner eventually list the property with a real estate agent. That means at least four out of every five homeowners who try to go it alone, will seek the assistance of a professional Realtor after they cannot sell their home on their own.
There are many factors that go into the successful sale of a home. This is why most real estate agents work long hours, including nights and weekends. Completing the sale of a single home often involves many hours of preparation and diligent work. If you decide to attempt the sale of your home by owner, be prepared to invest a good deal of time and energy into this endeavor.
No matter which avenue you choose to sell your home, there are a few tips every seller should know about to increase the attractiveness of their property to prospective buyers.
Prepare Your Home
You want buyers to love your home the moment they see it. That means taking care of any aesthetic issues, such as a poorly maintained yard, out-of-date appliances or stains on the flooring. You also may consider sprucing up your home by remodeling certain rooms, having the floors professionally cleaned or resurfaced, and updating your kitchen appliances. Once these issues have been addressed, a thorough cleaning from top to bottom will help show your home in the best light.
Price The Home Competitively
If you are attempting selling home by owner in the Lakeland area, you should reach out for expert advice when it comes to pricing your home. The most common reason a home does not sell, is due to pricing. Using an online pricing estimate is not enough, as these estimates often fall well off the mark of the actual value of a property. Selling by owners are also likely to overprice their homes because of personal attachment. They often see only the positive attributes and warm memories that have been made in their home. Therefore they seek a higher price as a result.
Timing Selling Home by Owner
Each market is different but typically people prefer to buy homes and move when the weather is warm. This is less of an issue in Lakeland, Florida as the weather is almost always warm. However, Florida summers can be too warm. Spring is considered the most popular time of year to sell a home in this area. You also may consider putting your home up for sale in the winter, when available home inventories are relatively low. Also, be aware of your surroundings. If there are several foreclosure sales in your neighborhood and surrounding area, it can affect the success of your sale as well.
Market Your Home For Sale by Owner
It is also a best practice to highlight your home’s leading features by offer descriptive text and professional photos to attract more potential buyers. Over 90% of buyers find their home online. Make sure your pictures are exquisite and detailed for buyers to make your phone ring. Speaking of potential buyers, you will need to get your home seen by as many people as possible and that means you will need to do more than just put a sign in the front yard.
There are many sites for you to add your property online for free or for a fee. You may even enlist in the services of OfferPad, an online company who offers to buy your home. I’m sure you’ve seen their commercial on TV. This company is fairly new and whether or not you are getting fair market value is still unknown. Make sure you read the fine print and read their online review on Google.
Real estate agents are trained and well versed in the marketing of homes. Home buyers in Lakeland, FL will want to know about the school districts, entertainment venues, sporting complexes and other attractions near your home before purchasing. A licensed real estate agent has the advantage of market a home on the Multiple Listing Service – or MLS for short – where many people tend to look for homes online. In addition, real estate agents have many other outlets they subscribe and pay to get attractions to your home.
Show Your Home
When selling home by owner in the Lakeland area, buyers who want to see the inside of your home in person. This means you will need to work around their schedule – not yours – if you want to get the home sold quickly. If you are working with a real estate agent they can schedule showings of your home for you, even when you are not home.
Qualify Your Buyers
Just because someone places an offer on your home does not mean they can afford the home. Make sure every offer you consider is accompanied by a pre-approval letter, not a pre-qualification letter. There is a big difference! If a buyer is not pre-approved it may be helpful to refer them to a mortgage broker who can help them with the process.
Legal aspects when Selling by Owner
When selling your home certain disclosures must be met and they will include documentation which contains certain language within that document. For Sale by Owners may think they don’t have to disclose damage to their home while selling their home as-is, only to find out later that they are being sued for non-disclosure. The advice of a real estate attorney as well as a title company is a must.
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If you do decide to sell your home by owner, please consider all the work it will take. If you choose to seek the services of a professional Realtor, Petra Norris is considerably experienced in selling homes in the Lakeland area. In addition, her aggressive marketing will ensure your home is seen by the most potential buyers. You can see her currently available listings at lakelandfloridaliving.com.
About the author: The above real estate article “Selling Home By Owner | FSBO Tips” was written by Petra Norris of Lakeland Real Estate Group, Inc. With over 20 years of combined experience of selling or buying, we would love to share our knowledge and expertise. Petra can be reached via email at email@example.com or by phone at 863-712-4207