I have been struggling for years trying to sell my house privately without any success. Selling a home privately is a very time consuming and frustrating process. I found that there were many advantages and disadvantages when I was trying to sell my house privately. Some of the major advantages include no fees or commissions and you have control of everything that happens. The main disadvantages to selling your own home include paying for your own advertising, negotiations, and experience. You can overcome most of the disadvantages to selling your own home through careful research.
One of the most difficult problems I encountered when I was trying to sell my house privately was determining the asking price for my house. When I was going to sell my house privately there were many factors I needed to take into consideration including advertising, attorney fees, and closing costs. To determine an approximate value for your home you should compare it to other homes currently up for sale in your local area. This will give you a general idea of the base price you should be looking for.
Advertising was the single most expensive cost I incurred when I was trying to sell my house privately. To save some money on this expense cost there are several free solutions currently available to you. There are many online forums and listing websites that will host your real estate ad for no fee. There are also many free newspapers that will list your ad for free in their paper. Open Houses are also a very inexpensive way to give your house a vast amount of exposure.
Closing the sale was a difficult task for me when I was trying to sell my house privately. There were many things I hadnít taken into consideration like negotiations and the lengthy paperwork involved in the process. The negotiations are the simplest yet the longest process of the entire closing. The interested buyer will make an offer on the home stating a price and any repairs they would want to see done if they were to purchase the home. The seller than considers the offer and usually makes a counteroffer of their own; this process continues until the two parties are satisfied with the arrangements made.
After the negotiations have been settled there is a numerous amount of paperwork to be filled out. These forms are neither simple nor easy and should not be attempted unless you have experience in the real estate field. The easiest way to complete this part of the process is to pay a small fee and have a company complete the work for you. This will generally only cost a few hundred dollars and is more than worth the expense.