Sunday, August 29, 2010

For Sale By Owner (FSBO) Helpful Tips!

FSBO Checklist



Use this For Sale by Owner Checklist to keep track of all the things you should do to sell your home yourself.



Preparing to Sell


___ Understand The Selling Process Completely. Read books about selling your home, and do some online research.

___ Prepare a timeline for moving out of your home and into your new home.

___ How's your curb appeal and landscaping?

___ Do you need to paint your front door or entryway

___ Do any rooms need painting or remodeling?

___ How is the carpet, wood floors, vinyl & tile?

___ Do any need to be replaced or professionally cleaned?

___ Reduce clutter, in every room and outside

___ Are all appliances in working order?

___ Are all faucets & toilets in working order?

___ Change any burned out light bulbs to bright white to brighten your home.

___ Clean all windows, inside and outside

___ Make sure all rooms are spotless and organized

___ Decide what items can be sold, given away or thrown away


Know Your Market

___ Is it a Buyer's Market or a Seller's Market?

A buyer's market exists when real estate for sale exceeds the number of buyers seeking to purchase real estate. In this case, a Buyer is in a better position as to price and terms because of this abundance.

A seller's market exists when the number of qualified buyers seeking homes exceeds the number of homes available. Home prices tend to be higher in this instance.

___ What other homes are for sale in your neighborhood?



Extra Expenses & Costs

___ Are you going to offer a Home Warranty?

___ Are you going to pay any of the Buyer's closing costs?


Pricing Your Home
___ Conduct your own research of neighborhood homes

___ Get a free Comparative Market Analysis. Click Here!

____Order a Professional Online Appraisal

___ Get a local appraisal by a professional

___ Decide what your "Asking Price" will be and what your "Final Price" will be


Marketing your home or property

___ Get For Sale by Owner Signs, directional signs, and a flyer box
___Prepare Real Estate Flyers including photos and all the features of your home
___ Advertise your home on the Internet
___ In a hurry to sell? You may want to advertise your home on the MLS.
___ Advertise your home in your local newspapers. 80% of home sold are purchased by people who already live or work in your area.
___ Decide which days you will show your home to prospective buyers. Usually, the weekend plus one night during the week is best.



Contracts & Legalities read more


___ Decide on the Title Company with staff of real estate attorneys

___ Get the required real estate contracts for your state. Read the contracts thoroughly so that you understand them. Ask your real estate attorney if you have any questions.



Negotiating an Offer with the Buyer

___ Read & understand the Buyer's Offer and present a Counter Offer, if necessary
___ Is the Buyer pre-qualified for a loan?
___ Accept the Contract, reject the Contract or prepare a Counter-Offer in Response to the Contract
___ Accept Earnest Money
___ Set Time Frames For Inspections, Financing & Closing


Document Exchange

___ Property Disclosure Forms are given to the Buyer. Click here to get the forms required by your state.

___ Buyer Provides copy of Loan Pre-Approval Letter to the Seller


Inspections

___ Home Inspection is completed

___ Home Inspection findings/issues are resolved, if necessary

___ Termite Inspection

___ Roof Inspection

___ Electrical Inspection

___ Other _____________________

___ Inspection findings/issues are resolved, if necessary

___ Home Appraisal Completed for the bank

___ Appraisal findings/issues are resolved, if necessary

__ Survey Is Completed, if necessary

___ Repairs Required By Contract Or Inspections are Completed



Title Company
___ Open Escrow with your Title Company
___ Deposit Earnest Money with the Title Company
___ Provide Necessary Documents the Title Company
___ Title Search Is Completed
___ Issues with the Title Search are resolved, if necessary
___ Settlement/Closing Date & Time Scheduled
___ 1. With the Title Company/Escrow Officer
___ 2. With the Buyer
____ 3. With the Buyer's Lender


The Walk-Through
___ Final Walk-Through Inspection is completed with the Buyer. Need a copy of this form? Contact me for a free no cost Final Walk Through Inpspection Form. mary.andrews@cbexchange.com
___ Issues with Walk-Through are resolved, if necessary



Do's and Don'ts to avoid common mistakes people make while photographing their home!
A must have! Contact Me For Your Free Copy. mary.andrews@cbexchange.com


Settlement/Closing

___ Review Closing Documents 24-48 Hours prior to the Closing
___ Resolve Issues with the Closing documents, if Necessary
___ Settlement/Closing Day. Be sure to bring your driver's license.
___ Go out and Celebrate




Don't forget to get your free copies of the Final Walk Through Inspection Form, or the Must Have, Do's and Dont's in photographing your home. I can also assist you with a free Comparative Market Analysis of your home.

Mary Andrews
Coldwell Banker Residential
6232 W. 95th St
Oak Lawn, IL 60443
Direct 773-563-3871
mary.andrews@cbexchange.com


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