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by David B. Zwiefelhofer
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So polish up your home, ask a fair price and you’ll successfully sell your home.
I. To FSBO or Not to FSBO?
Don’t fool yourself into thinking that selling your house is a simple procedure. While not particularly difficult, it is time consuming. You’ll need to do all the things a real estate agent does, on top of all the things you would normally have to do yourself.
You’ll have to spruce up, repair and clean your house as well as extensively research your neighborhood. You’ll need to find out at what price comparable houses (comparables) in your neighborhood are selling. What are their tax assessments? You might want to have your home appraised ($200 to $300) to help determine a fair asking price.
Where and how good are the local schools? What public facilities are near-by? How about shopping?
Are there potential problems with your property such as asbestos, radon or a buried oil tank? You’ll have to find out and disclose them. Don’t even think of trying to hide such things or you could end up in a world of legal trouble.
You’ll also have to pay for all the services a real estate agent would normally provide, such as listing your home in the local classifieds ($20 to $35 per week) and closing services (around $600 for a lawyer).
Can you distinguish a good prospect from someone who can’t afford your house or a window shopper? You should also pre-qualify potential buyers before accepting an offer. Imagine accepting an offer, taking your home off the market and then finding out your buyer can’t close. |
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