If the sale of your home is fairly simple, selling your home without a real estate agent can save a significant amount of money, but it’s important to know what you are getting yourself into before you start. In order to avoid pitfalls that may arise in a For Sale By Owner ("FSBO") deal, it is essential to enlist the help of an experienced real estate lawyers who can assist you during the process.
Know the Market Value of Your Home In order to price your home competitively, research the final selling prices of similar properties in your community. Starting at a fair price will help you sell your home more quickly. Online real estate sites offer sales trend information for local neighborhoods, sales prices for comparable homes in the community, and the average length of time homes have been on the market. It is also worthwhile to employ a certified licensed appraiser to obtain an appraisal before putting your home on the market. Showing an appraisal to potential buyers can help them determine how much they will need to borrow to purchase the home. Working with the Buyer’s Agent A potential buyer may have an agent representing his or her interests. If the buyer is using an agent, consider paying the agent a commission of about three percent of the final cost. If you do not pay the commission, the number of potential purchasers may shrink, as buyers’ agents will not have an incentive to show their clients your home. Sales and Marketing If you are new to FSBO, it is easy to underestimate the amount of effort it will take to market your home. Keep your home and yard clean, clutter-free and ready to show at a moment’s notice.
Putting your property in the Multiple Listing Service (MLS) can also help you effectively market and sell your home. Some real estate brokers will list the seller's home in the MLS for a flat fee of a few hundred dollars. Before paying any money to a third-party company, do your research to make sure it has a good reputation and favorable reviews. Don’t Take It Personally The emotional aspect of selling a home is an important part of the selling process. You may hear comments about your home's shortcomings from buyers trying to negotiate a lower price. Don't take negative feedback to heart. If you look at it as a product you are selling, it will be easier to have an objective view of your home’s value. Screening Potential Buyers Screening potential buyers may be the most important part of selling your home for sale by owner. Before you sign a contract with a buyer, make sure the purchaser will be able to come up with the necessary funds. You don't want to take your house off the market or waste time negotiating with someone who was never qualified in the first place. Ask for a current pre-approval letter from a reputable lender before accepting any offer. The letter should show that the buyer has been officially pre-approved for the purchase price of the home. A qualified contracts lawyer can help to craft a sales contract that will protect your interests should something go awry. The sale of your home is probably one of the largest financial transactions you will make in your lifetime. Carosella& Associates in West Chester, PA can help you determine the kind of sale that is right for you. We also have offices in Montgomery County and Delaware County to serve our clients. #salebyowner, #FSBO, #realestatelawyers
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An important tool that is often a part of estate planning, general power of attorney is a document that gives an individual or entity the legal authority to act on another person's behalf. Consulting with experienced lawyers who will help you determine which kind of power of attorney is right for you can make particular circumstances and transitions easier for you and your family.
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