Selling a Home yourself?

[whackem and stackem]

Does anyone have any experience selling their own home instead of using a Realtor? I am thinking about selling a home I have that I've been renting and would like to hear steps involved in selling it myself. I know there will be lots of paperwork but surely a title company or such would handle this?

[Bucksaw]

I know this doesn't really answer your question, but here ya go. I haven't sold one, but I bought mine in a private sale, and I can tell you its a total hassle. Because of that, I wont try to sell one myself. I might buy one again, but I wont try to sell one.

[laredoarcher]

I'm in the process of selling mine. I'm using a realtor. I'm sure you save money doing it yourself but I didn't wanna mess with it. Good luck

[Puncher51]

I sold my old house without the use of a realtor, but allowed the buyers to use a realtor. Therefore instead of paying 6% commission I paid 3%.

[kingranch]

Honestly when I put mine up for sale I scheduled every viewing through and automated system... the realtor never did squat and I had to correct his flyer he had made up for the house like 3 times..he rolled his eyes when I told him what to list it for but I insisted.. The market so hot it got 3 offers for my full asking price in just a few days. I felt like realtor didnt deserve to split the 6 percent so needless to say the deal didnt go thru and I refinanced at 2.3 percent on a 15yr. .Now I rent it for 2500, my note including escrow insurance is 1500.. Best decision I ever made was to pull the plug now I have a piggy bank that is paying for itself and then some.
If you can swing it take advantage of the low rates right now...its a no brainer

[dpatterson1976]

I sold mine using http://www.forsalebyowner.com

No hassle at all. Just listed it and talked to the local title company to get basic contract agreements. Filled it out and showed the house.

Buyer came along, we agreed on the price. They signed the contract and went to the title company to start the process.

Escrow, Inspection, and a Closing later I am no longer the owner of a house.

Saved the 6% of a realtor that was not doing anything... Not saying all Realtors do this but the ones I was using showed my house 2 times in 3 months. I showed it 12 times in a month.

FSBO also offers upgrades, at certain points at a discount, to list your house on the MLS.

Do it! You will be happy with the money you saved.


dp

[dhillis]

I tried selling mine for 2 months without a realtor. Should have just dropped the price and kept at it. I ended up dropping the price and paying a realtor, who I will never use again. The piece of property I am buying was listed, but I waited them out until it went off the market. Got the property at 75% or what is was listed previously, and for less than it appraised in 2008. The housing market around here has gone through the roof. Bought my house in 2006 for 77K and sold it for 132K this last year.

[Heron]

I used Creekview Realty a few years ago and saved 3%. They basically get you access to the property listings used by realtors, comparables and a web page for your home. Pay the 3% for the buyer's realtor so they'll be motivated to show your house.

[whackem and stackem]

I sold mine using http://www.forsalebyowner.com

No hassle at all. Just listed it and talked to the local title company to get basic contract agreements. Filled it out and showed the house.

Buyer came along, we agreed on the price. They signed the contract and went to the title company to start the process.

Escrow, Inspection, and a Closing later I am no longer the owner of a house.

Saved the 6% of a realtor that was not doing anything... Not saying all Realtors do this but the ones I was using showed my house 2 times in 3 months. I showed it 12 times in a month.

FSBO also offers upgrades, at certain points at a discount, to list your house on the MLS.

Do it! You will be happy with the money you saved.


dp

Appreciate the info, I'll definitely look into it. This house is paid for and I've been renting it and had great luck for the last 8 years. The neighborhood is starting to decline in that area and I feel that now is the time before the area loses value

[tkuehn5410]

Good thread to read. My wife and I are in the same boat, and a "real" friend who's a realtor recommended "FSBO," to see if you have any bites for a month or so, then use a discount realtor for several months, then if you don't succeed, look into a realty company. This is if you aren't in a rush to try and sell your house in a good market. A lot to be considered in the selling, such as the amount of updating, improvements, etc. We've rebuilt the kitchen, put in hardwood floors, redone bathrooms, so the house is really completely updated, which she says will help move the house more quickly than a non or semi-updated home. Hope this helps.

[Hogmauler]

If you decide to sell it yourself make up your own flyers and take them to the brokerages. Have an open house and invite Realtors over and get opinions of price, condition etc. You can have a drawing for a gas card or Wal Mart gift card as an incentive for Realtors to come by and check out your property. Then decide whats more important to you: Price or Time on the market. Its important to price your home correctly. Since you don't use a Realtor a lot of folks automatically what you to knock 6% off the list price. What I recommend is that if your gonna sell it yourself have the home inspected first. Then, repair the inspection list or decide what your willing to negotiate on. By repairing the inspection list you do several things. Your bringing your home up to showing conditions and your taking away leverage from a buyers agent that is looking for a reason to low ball you. Kitchens and bathrooms sell homes for women. And if the guy is smart he buys the home his wife wants. So, do your comparables, have your home inspected and do repairs, price the home appropriately and you ought to be good to go.