Oct 31 2017 47053 1

Dated: 01/09/2018

Views: 99

5 Things You Lose When You Put Your Home Up for Sale by Owner



real estate transaction can be one of the most overwhelming and stressful processes we go through in our adult life. When on the selling side, we spend countless hours preparing the house, maintaining it in its show-worthy state and worrying about what could go wrong with the appraisal and inspections -- and then there's that constant voice in our heads asking if we'll actually sell it for a price that makes it all worth it." data-reactid="11" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">Areal estate transactioncan be one of the most overwhelming and stressful processes we go through in our adult life. When on the selling side, we spend countless hours preparing the house, maintaining it in its show-worthy state and worrying about what could go wrong with the appraisal and inspections -- and then there's that constant voice in our heads asking if we'll actually sell it for a price that makes it all worth it.

So why, with all that work and worry, would someone want to take on the added burden of overseeing the entire transaction as well? Your guess is as good as mine.

for-sale-by-owner deal. However, the pros are strongly outweighed by the cons not only financially, but for the sake of your time and sanity when it comes to the entire home selling process." data-reactid="13" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">With the rise of home prices and a decrease in inventory and typical number of days homes remain on the market, many potential home sellers are once again considering the option of afor-sale-by-owner deal. However, the pros are strongly outweighed by the cons not only financially, but for the sake of your time and sanity when it comes to the entire home selling process.[See: 10 Unorthodox Ways Your Real Estate Agent May Market Your Home.]" data-reactid="14" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">[See: 10 Unorthodox Ways Your Real Estate Agent May Market Your Home.]Guidance Through the Transaction" data-reactid="15" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">Guidance Through the Transactionskilled real estate agent is key in any transaction, and not just for the homeowner who's unfamiliar with the process. A good real estate agent will not only provide market and status updates, but he or she should impart organization and education into the experience as well. These two principals help create a clear, understandable path through the entire series of events and allow you to focus on the day-to-day tasks of maintaining your house and preparing for your move." data-reactid="16" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">Communication with askilled real estate agentis key in any transaction, and not just for the homeowner who's unfamiliar with the process. A good real estate agent will not only provide market and status updates, but he or she should impart organization and education into the experience as well. These two principals help create a clear, understandable path through the entire series of events and allow you to focus on the day-to-day tasks of maintaining your house and preparing for your move.Understanding the Paperwork" data-reactid="17" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">Understanding the Paperworkcontract alone can range from 40 to 70 pages depending on where you live -- not to mention the subsequent addenda following inspections, appraisal and more." data-reactid="18" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">You undoubtedly remember the number of pages involved in the sales contract from when you purchased your house. Thecontractalone can range from 40 to 70 pages depending on where you live -- not to mention the subsequent addenda following inspections, appraisal and more.

Real estate agents spend dozens of hours learning these documents during their certification studies, as well as constantly staying up to date in the latest changes through continuing education classes. By taking on the task of drawing up and managing documents you're unfamiliar with, it could cost you a sale if not handled properly.

While everyone certainly hopes to never do a deal with a deceitful agent, the fact remains they do exist and FSBOs are much easier targets than agent-assisted sales. The idea of someone pulling a quick one that could cost you thousands amidst the myriad of legalese in a sales contract is frightening.

But you may ask, "What if I hire a lawyer to review the contract?" The vast majority of sellers who choose to sell on their own do it to save money -- if you think it's expensive to hire an agent, just wait until you talk to a lawyer and discuss hourly fees.

[See: The Best Apps for House Hunting.]" data-reactid="22" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">[See: The Best Apps for House Hunting.]Your Time" data-reactid="23" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">Your Time

One reason some homeowners choose to sell without an agent is because they already have a buyer lined up. If you're one of those people, this section doesn't apply. For those in need of a buyer, it's important to factor in the value of your time, and how much you'll be putting in to marketing your home.

mortgage, utilities, taxes and homeowners association fees, among other regular costs. Selling your home as quickly as possible is an important goal. Are you sure there's enough time to learn marketing strategies, negotiation skills and fully understand the contract so you can make educated decisions, all while handling your day job, packing, preparing for your new house and still trying to have some semblance of a life?" data-reactid="25" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">Throughout the listing period and after you go under contract, you still pay themortgage, utilities, taxes and homeowners association fees, among other regular costs. Selling your home as quickly as possible is an important goal. Are you sure there's enough time to learn marketing strategies, negotiation skills and fully understand the contract so you can make educated decisions, all while handling your day job, packing, preparing for your new house and still trying to have some semblance of a life?smooth transaction and a a home listed FSBO can be a red flag." data-reactid="26" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">One of the most important keys to selling a house is making it desirable to the largest amount of people and getting the highest percentage of that potential clientele inside the property. Buyers are looking for asmooth transactionand a a home listed FSBO can be a red flag.

By choosing to work without an agent, it can be assumed you are more cost-conscious and less likely to negotiate. You're also lacking guidance which is sure to make things difficult for both the buyers and their agent. These factors add up to a lower exposure rate, and very likely equating to a longer time on market.

Access to Other Pros" data-reactid="28" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">Access to Other Prosother industry professionals including lenders, settlement attorneys, contractors and inspectors. Undoubtedly, the agent did not strike gold with each person he met the first time around. He had the unfortunate experiences of working with less than the best, but through those times was able to recognize and identify what makes each professional great." data-reactid="29" style="margin: 0px 0px 1em; color: rgb(38, 40, 42); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">When you work with a real estate agent, one key component you're hiring him for is his experience and the relationships he's formed withother industry professionalsincluding lenders, settlement attorneys, contractors and inspectors. Undoubtedly, the agent did not strike gold with each person he met the first time around. He had the unfortunate experiences of working with less than the best, but through those times was able to recognize and identify what makes each professional great.

Want to Advertise on this Site?

Latest Blog Posts

Barbeque Come On Down And Have Some Food And Fun

                                                      

Read More

Should You Rent Or Should You Buy

Zillow recently released their annual Buy-Rent Breakeven Horizon Study.   Basically, the study calculates how much time it takes for buying a home to make more financial sense than renting

Read More

Ben Hicks Yoga

Tucked away on main street there is a door that leads to a magical place of zen and uncomfortable positions. Of course what I am talking about is Ben Hicks Yoga. This yoga place offers amazing yoga

Read More

Trust Me You Need A Casita

Why do you need a casita? Buying a home with a casita makes excellent sense in terms of both property value and convenience. With a variety of different uses, casitas can serve as:Mother-in

Read More