Sell It Yourself: Can you do it?

I understand that you’d like to save money by trying to sell your home yourself. It just makes sense; you’ve worked hard to build equity in your home and you’d like to keep as much of it as you can. But keep in mind that selling your home is a complicated, legal process with strict rules and regulations. And since it involves a legally binding contract you must be sure you do it correctly or it could end up costing you more money to sell your Lake Hartwell real estate yourself.

To help you in your endeavor, I’ve written this article to explain as much of the process as possible. This is not a substitute for expert representation but rather a general guideline as to what to expect. If at any time you feel overwhelmed by the procedure, I’d be happy to help you sell your home. I’m simply a phone call away.

  1. Pricing your home: An important consideration

First, and most importantly, you will need to set a price for your home. It is imperative that you price your home correctly, the first time. If you overprice it expecting to drop it later, the ramifications include it languishing on the market too long. Buyers become suspicious of a home that has been on the market for while. Obviously, if you underprice it, you won’t get as much as you could. By following these tips on how to price your home, you should be able to come up with a fair market value for your home in which it should sell within a reasonable amount of time.

  • Compare. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities? To get this information, request a free Right Price Analysis from us.
  • Compete. What’s the market like? How many other houses are for sale in your area? Are you competing against new homes?
  • Contingencies. Do you have special conditions that would affect the price you’ll receive? For example, do you have to find another house before you can vacate this one?
  • Appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute (www.appraisalinstitute.org) or ask us for some recommendations.
  • Ask a Lender. Since most buyers will need to take out a mortgage, it’s important that a home sell at fair market value.
  • Be Accurate. Studies show that homes priced higher than three percent over the correct price take longer to sell.
  1. Gather required documentation

Once you’ve decided on a price, you should gather and prepare the necessary forms so that you will have all the proper documentation ready for selling your home.

 
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