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For
Sale By Owner (FSBO)
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This
section is not intended to intimidate those who attempt to sell
their own home without the assistance of a Realtor. It also isn't created to scare buyers interested in a FSBO home.
The purpose of this page is to
educate both parties.
|
| MYTH -
A FSBO doesn't have to tell a buyer the things that are wrong with the
home (e.g. plumbing problems, leaky roof, etc.). |
A
Few Things Sellers Should Consider
• How will the
home be priced
• Is a yard sign all that is needed
• Who
prepares the legal documents
• What
disclosure forms are required
• Is
lead-based paint a factor
• Who pays
which closing costs |
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These are only a few
matters one should consider when selling their own home. Many assume that all
they need is a
random sales contract and a For Sale sign. However, even the most basic step,
such as setting the sale price, depends on a series of factors. The
property size, area, condition of your home and the recent selling prices of comparable homes in your neighborhood all affect the market value of your property.
A home that is priced a certain amount, then sells, does not mean it
sold at the asking price. Homeowners who sell without a
Realtor often misread the local market and either over-price or under-price
their home.
Did You Know? According to the NAR, the median
FSBO selling price in 2005 was 20% lower than
the median agent assisted transaction sale price. |
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You also face
contingencies, home inspections, title clearance,
deadlines and disclosures. The experienced advice and guidance of
a
professional Realtor may be essential to ensure that you avoid the risk of
an expensive legal battle and ensure a successful home
sale. We're not out to take your hard earned money. We're actually here to help you
get the most out of your home. |
Did You Know? 83% of sellers sold their home with the
help
of an agent. Of the remaining 17% of homes, 7% of FSBOs
never sold. 7% are sold to a relative. This leaves a 3% chance
of selling your home to a buyer generated from your efforts. |
At the very least, most states require that a seller disclose: The age of the house and
many of its parts; Structural defects; Problems related with to any parts of the house;
Encroachments; Lawsuits or claims that have an effect on home ownership,
etc.
Did You Know?
The three most difficult tasks
for FSBOs were: Getting the right price, Understanding
paperwork and Preparing home for sale. |
Utilize our
resources and experience to maximize your home's potential. Feel free to
give us a call or send us an e-mail on how we can get your home listed
and sold. (505)
730-8181 - info@nmrealty.com
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