A private home sale, i.e. the sale of a property without a real estate agent being involved, is not difficult. This way of selling property (as a ‘For Sale By Owner’ sale) is increasingly gaining popularity with a growing section of the public, who believe that real estate agent commissions are not justified. At least, not justified at current rates.
What steps are required for a private home sale?
First and foremost, you need to get the paperwork in order, so as to be able to legally accept an offer from a buyer. This is something which the estate agent would normally require you to have in place even if selling through an agency. In states such as Victoria, this involves getting a solicitor to prepare a Section 32 (or Vendor’s Statement) for you.
Do some research to further increase your knowledge of the area (something which is always of benefit when it comes to negotiating with buyers) and examine comparable sales in your area, in order to help you determine a realistic sales price. Paying a real estate agent in your area for a professional appraisal may well be worth your while as well.
Prepare your home for viewing by potential buyers, and prepare your advertisements & marketing campaign. This will involve noting the features of your property, writing an effective description of the property, taking photographs and if possible, having professional floor plans made up.
You are now ready to put your property to market, and to field incoming enquiries, and to negotiate with buyers. www.forsalebyowner.com provides a wide array of marketing tools which allow you to reach an audience as wide as that which any real estate agent could offer you. In addition you will have access to a large network of professionals, to which you can outsource various aspects of the sale, should you wish to do so.
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