FSBO Guide
General Steps
Taking over duties of an agent. Commissions earned by a Realtor can amount to a lot of money, and that's the main reason owners try to sell their homes themselves. These are many of the steps to market your home for sale by owner.
- Conduct your own mini walk-through and make note of all the items that need repair or improvement.
- Fresh, clean paint throughout
- Well-manicured lawn and yard.
- Clean windows and window coverings throughout.
- Plumbing and all appliances in working order.
- A well-organized, clean garage.
- All sealants (window, tub, shower, sink, etc.) in good condition.
- Roof and gutters in good condition with no repair needed.
- Make all the necessary repairs and improvements before you begin to advertise your property.
- Carefully research information regarding the prices and terms of sales in today's real estate market. Investigate recent sale prices for properties similar to yours in your immediate area. Establish a realistic price for your property based on that information.
- Meet with local lenders and determine financing alternatives for your prospective buyers.
- Determine which newspapers and homes magazines, etc. will best advertise your property. Call them for rates and deadlines.
- Establish an advertising budget.
- Prepare a professional, attention getting advertisement that will attract the right buyers to your property. Place your ads.
- Prepare a plan to reach out-of-town buyers who account for a major portion of Atlanta's home purchases.
- Purchase a weatherproof yard sign and install it on the front of your property.
- Purchase special Open House signs and install them in paths that lead from main roads or thoroughfares to your property. Check local laws and regulations that apply to the use of these signs. Put signs up and take them down before and after each open house.
- Prepare a Feature/Benefit fact sheet outlining specific features of your home and the corresponding benefits to prospective buyers.
- Be available at all times so that you can walk potential buyers through your property per their available schedule.
- Learn to separate the lookers from qualified buyers. Ask for names and phone numbers and be sure to follow up with telephone calls.
- Be prepared to negotiate with buyers as though you are an impartial third party. Remain calm and refrain from emotional outbursts that may spoil a sale.
- Obtain all forms necessary for the legal sale of real property such as:
- Deposit Receipt and Offer to Purchase.
- Buyer's Cost Sheet.
- Seller's Disclosure Form (In our increasingly litigious society, it is imperative that all known defects be disclosed to buyers).
- Determine the type of financing that you are willing to consider such as:
- FHA
- VA
- Seller Carry back 1st loan
- Conventional loan with Seller Carry back 2nd loan
- Negotiate with the buyer all the final terms including price, financing, inspections, schedule of activities, closing date, date of possession and all other pertinent considerations.
- Plan final walk-through with buyers before the settlement process is complete in order to resolve any disputes. Have a witness present.
- While you are marketing your current property, locate and negotiate the purchase of your next property. Attempt to schedule both transactions so that they close simultaneously. In this way, you and the buyer are able to move at the same time.
Many people are comfortable in the role of For Sale by Owner. You may find that you are one of them.
Whether you choose to take on the task of selling your property alone or prefer to work with a real estate professional, we will be happy to help you get started with a free Comparative Market Analysis.
