FSBOprocessor is here to manage every phase of your transaction process from the signed contract to the closing table. However, if you are in the preliminary stages of marketing your home “For Sale by Owner,” make sure to familiarize yourself with the current market. Knowing where the market is could save you time, money, and get you the most value for your home.
Other things to consider:
- Evaluate your local market and compare home values in your neighborhood that are similar to your home. Tip: A local Real Estate Agent will often provide you with a FREE Comparative Market Analysis (CMA) in exchange for your consideration if you later choose to list your home with an agent.
- Decide on an appropriate listing price. Note: setting a price higher than fair value will cause appraisal issues and may cause your home to sit on the market longer than anticipated.
- Consider making low-cost cosmetic repairs and upgrades that might add value to your home and/or make it more attractive to prospective buyers.
- When marketing your home, consider listing it in the Multiple Listing Service (MLS). Once your property is entered in the MLS, it is then syndicated on thousands of websites like: Google Base, Yahoo Real Estate, Cyberhomes, Trulia, Zillow, and more!
- Other marketing strategies include: “For Sale” signs; local newspaper classifieds; real estate publications; and websites including Craigslist.com, ForSaleByOwner.com, and others.
- If you plan to do an open house, advertise for weekend showings (optimal “traffic time”), strategically place open-house signs in your neighborhood early that morning, have a sign-in sheet for buyers so you can follow-up with them later, have informational flyers ready, and make sure your house is in prime showing condition.
- As you receive purchase offers, carefully evaluate the strength of each offer including: Is buyer pre-approved for a loan? How much is their earnest money deposit? What are their contingencies? Is their offer contingent on selling a home? Are they asking for buyer’s closing costs or any other items paid by seller? What is the proposed closing date? etc.
- Strategize and prepare to accept or reject an offer, or make a counteroffer.
Once you and your Buyer reach your terms of purchase, FSBOprocessor will prepare the Purchase Contract for Buyer & Seller signature, review your contract for completeness, verifying all signatures and initials are on the contract and addenda, and start the purchase transaction (see Services Page for details).