Selling a property by owner, often referred to as FSBO (For Sale By Owner), can be a rewarding process, but it requires careful planning and attention to detail. Here are the key points to consider.
Consider getting a professional appraisal to accurately price your home.
- Understand the local real estate market to set a competitive price.
- High-quality photos and virtual tours can attract more buyers.
- Utilize multiple platforms such as FSBO websites, social media, and local classifieds.
- Verify the identity and pre-qualification of potential buyers before allowing them into your home. Implement safety protocols for showing your home, especially if you are doing it alone.
Legal and Paperwork: Be aware of your state’s disclosure laws and ensure all necessary disclosures are provided to buyers.
Use legally sound purchase agreements and contracts. Consider consulting a real estate attorney to avoid legal pitfalls. An Escrow company can also assist with contracts as well as understanding the closing process, including the necessary documentation and any potential fees.
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