Having never sold a home myself, what all considerations must one take in when choosing the best option for the realtor / listing agent to sell a home? Is it better to attempt to sell the home by owner first then go with a realtor if you don't sell it on your own? Here is the details, when we bought the home we did not have the intention on it being our forever home (although it has an outstanding layout (ranch style home), with nice sq. footage, sits on 15 acres with two ponds, sits back off the road around 1000 feet back, attached 2 car garage etc). There is also not one single thing that needs fixed, replaced updated etc. (Well I lied, I have yet to finish the drywall I hung in the garage last week, or put up the new garage door openers) We do not need to sell the home for any reason so a timeline for a sale is not important, it's just we have a lot of equity in the place (I see comps have sold for twice what we owe and not as nice as our place) and are thinking about possibly cashing out of this place now while our son is still very young, as it wouldn't affect him negatively as far as school, sports or friends. Please any relevant information you could provide me on this topic would be greatly appreciated.
I've sold 2 houses on my own. I look what the homes around me were selling and then jacked the price by 10%. If you decide down the road to sell with a realtor you have to pay there fee. You can print off offers to purchase on line, run adds, and run the open houses on your own. The legal end of it really doesn't fall on you it's up to to the new owners bank to make sure that everything is in line. I did have a lawyer on my first house it cost me $500.00 and he just looked at the paper work and said ok. It's easy enough to do why give away 6% of your equity.
You don't give away 6% of your equity. You pay a fee to sell your house. If you have no timeline......I'd sure try to sell it on my own, first. I can't imagine you getting much traffic on it (if it isn't listed through MLS), UNLESS you're priced favorably (favorable to the seller). I also can't imagine your home's appraisal being something that makes you happy (given where you live and the state of the economy). Maybe I missed it, but, why exactly do you want to sell? You gave reasons why now "might" be a good time. But, I didn't get a feeling for why you want to move?
You don't give away 6% of your equity. You pay a fee to sell your house. If you have no timeline......I'd sure try to sell it on my own, first. I can't imagine you getting much traffic on it (if it isn't listed through MLS), UNLESS you're priced favorably (favorable to the seller). This is what I was thinking... Other than listing it in some classifieds / craigslist etc I don't know how to generate traffic. I also can't imagine your home's appraisal being something that makes you happy (given where you live and the state of the economy). I was looking on some Realtors websites at homes that recently sold in my area that are comparable to mine and there were a few that sold for twice what we owe, with less square footage, less acreage and not as nice. If we couldn't sell for what we want, we would just stay. It's not that we have to sell for any reason in particular. Maybe I missed it, but, why exactly do you want to sell? You gave reasons why now "might" be a good time. But, I didn't get a feeling for why you want to move? We do not need a home this large, I grow tired of mowing this much acreage, I grow tired of shoveling like 1200 feet of driveway. Our property taxes are outrageous. The possibility of eliminating or nearly eliminating our mortgage payment with the equity of this home purchasing or building another is a big draw. (remember if I were to build I come from a family of 7 carpenters, thats union and non union carpenters if anyone was curious, labor is cheap :p ) I doubt I would build, but you never know. Not even positive we will sell... Just an idea I am thinking over.
People that want to live in areas like you have described will drive around looking for a "For Sale By Owner" sign ... I know ... I do it. My advice would be to throw up a sign for the next three months and see what happens .... houses like yours wont last more than 3 days with a broker ... another option ...overprice your house so the sale will pay your broker fees .... but be ready. cuz it will sell FAST, going by your description ..... Great houses with land sell way over market value here ... If you have a house in mind to purchase, go with the latter ...
Good luck, Scott. I deal with real estate, daily. Around here, "some" prices are good (we're a little insulated). Some aren't. My brother's an agent. And, my business deals with foreclosures. One of my best friends is in a similar situation. He tried to sell his via FSBO. He then went the realtor route. He's been through 2-3 realtors/realty companies and can't quite grasp that he's over-priced (not saying you are!). It's simply a buyer's market, currently. I wish you luck.
And, you could take advantage of realtors helping to sell your property for 1/2 fee (3%). You'd need to have constant access to REALLY take advantage of this, though. You could accomplish this with a $50 coded lock. You'd save yourself the listing fee %-age, this way. Listing on MLS isn't free, though. You can look at the listing/seller's fees as "coming out of the sale price"....or as a cost of doing business. If you're not in a hurry.....I'd at least try it (in your situation). When I sold my last home, I listed with an agent. I didn't have time....nor did I want the hassle of having to be around to show the property. I sold my home in <30days. Again, good luck.
I sold my first house with Assist To Sell, they charged a flat fee, (I think it was $2700), and my house was listed in the MLS. That was better than the fee, also, you can negotiate the fee with the real estate agent, we had listed my curent house before at i believe it was 4.5%., but ended up staying put.
Around here (and I would guess by you as well) there are agencies that allow you to get on the MLS for a reasonable flat rate fee and then you do the showings and open houses. Here is one example in Wisconsin. http://homeownersconcept.com/location.php?r=/index.php http://homeownersconcept.com/sell.php Not saying it is your answer, but it very well may be. Good luck.
SO, Scott'o you moving to KY now so I can harass yer @ss ? :D Besides I need another Shed hunting partner :D
Around here, you'd be losing money on your home. The economy hasn't recovered enough yet. Sounds like you have a nice place to wait it out. Then, you may be able to sell it yourself and save even more money.
Selling a house sucks - pretty much anyway you do it. What sucks worse? Owning a house in NC, moving to VA and not being able to sell your house in NC. Good luck either way - I have sold via Realtors, and tried the FSBO thing - both suck in their own way. I have been trying to sell to my current renter - and we have a real estate lawyer lined up if we can finally get the deal closed.
Mine's gonna be for sale in about a month. I'm gonna take a week and Craigslist it and run an add in the paper to see what happens. After that, I'm listing. I'm not in your position though, I have basement walls and a house showing up the 3rd week in April.
I've sold two houses myself by simply posting it in the newspaper. The legal side can be a little of a hassle, but the only thing the seller has to deliver to the buyer is a title opinion from an attorney. Of course you will have to have a disclosure statement, a contract and what ever else may be negotiated between the two and specified in the contract. Edit: The first house sold in 30 days, the 2nd sold in 2 weeks. Maybe I don't ask enough! hehe
