Most searched “for sale by owner’ questions – answered

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Aug,12 2019
For Sale by Owner
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Selling your home by yourself is hard if you don’t have a proper guidance system in place. It requires time, energy, market knowledge, and some upfront money. With people coming in and poking around your closets and cabinets, complaining about the design and build of your home, and offering you less money than you believe your home deserves, ‘for sale by owner’ can become an emotional roller coaster in no time.

Homeowners who are wondering how to sell a house by owner should understand that it’s a learning process and isn’t something that people are doing every day. Preparing for what’s ahead will help you gain the most money at closing and keep your stress at bay. Moreover, if you don’t want to go through the hassles of selling a home yourself but don’t want to spend a lot of money on hiring an estate agent, you can choose Minus The Agent to take care of all your real estate needs. Minus The Agent helps home sellers list their properties on realestate.com.au, domain.com.au, realestateview.com.au, homesale.com.au, etc. and also provide on-going assistance to make the sale or leasing a stress-free process when you opt for sale by owner.

If you are planning to sell your home by yourself, here are a few questions we answered for you so that you have a smooth home selling process:

Q) How much is my house worth?

A) A home’s fair market value defines what you could expect to receive if you were to sell your home on that day. There are a number of factors that determine a home valuation such as:

– Location

– Number of rooms

– Square footage

– Age of the property

– Upgrades and improvements

– Market trends

– Construction and repair

You can run a comparative market analysis by yourself and study the market trends and prices of the properties around you in your neighborhood. Match your property to comparable properties in your neighborhood in terms of features, to get an estimated value of your property. In addition to this, there are numerous websites available on the internet that can give you an estimate of your home’s worth. You can use these sites, along with other methods, to build a rough estimate of your property’s market value.

Q) Should I make repairs before listing the house?

A) Buyers, when visiting your house for inspection, expect the condition of your home to match the description and maintenance issues can make them leave. Prioritizing the most glaring issues that are likely to turn up during home inspections is important. Home buyers want the property to be in a ‘move-in-ready’ condition. Get real estate tips online on home improvements, make the necessary repairs, light the house properly, de-clutter every room, touch-up or repaint the rooms if necessary so that when the potential buyers come to visit your open-house, they can make a proper decision.

Q) How long will it take to sell the house?

A) The time it takes to sell your house depends on various factors including the location of your home and the conditions of your local housing market. The condition of your property, its staging, and the way you market the house can also play a huge role. Just remember that selling your house is a process that takes time and tests your patience at every step. You can get assistance in selling your home faster and efficiently by listing it on minustheagent.com.au.

Q) How much does it cost to sell a house?

A) While people decide to sell their home by ‘for sale by owner’, the most common mistake they make is – not expecting the total cost of selling a real estate property. While calculating the total cost of selling a home, most people only include the 5-6% in estate agents commission and forget to account for closing costs, staging costs, repairs, seller concessions, advertising, etc. All this can amount to 10% of the sale price. Moreover, don’t forget the moving expenses and if you are not moving to a new house that you already own, you’ll need to account for the rental fee as well.

Q) What can I do if my house isn’t selling?

A) Don’t be disappointed if your home doesn’t receive any offers right away. In case you don’t receive any offers for a long period of time, consider revisiting your asking price, updating your marketing material, and making sure your home is widely listed. This will help increase your home’s visibility and its chance of a profitable sale. Selling your home by yourself can be time-consuming and nerve-wracking but only if you are not a patient person. As long as you are well informed and ready to sell your house you can list it, even go ahead, and market it and you will be sure to get potential buyers of your home. Moreover, the financial rewards can be tremendous.

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