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For Sale by Owner - What you need to know.

For Sale by Owner - What you need to know.

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 Stephanie talks to Birdman about For Sale By Owner or FSBO When you sell your home For Sale By Owner (FSBO), you’re taking on the responsibilities that a real estate agent would normally handle. It can save you the listing commission, but it requires careful planning, knowledge of legal steps, and extra work on your part. Here’s what you need to know: ⸻ 1. Pricing Your Home Correctly • Research recent comparable sales in your neighborhood. • Consider getting a professional appraisal to set a fair asking price. • Overpricing can scare off buyers, while underpricing can leave money on the table. ⸻ 2. Preparing the Home • Clean, declutter, and stage the property to appeal to buyers. • Take high-quality photos (and possibly a video tour). • Make minor repairs or updates that boost curb appeal. ⸻ 3. Marketing the Property • Create an online listing on major sites (Zillow, Realtor.com, FSBO platforms). • Use yard signs, flyers, and social media to spread the word. • Consider professional photography and a well-written description to stand out. ⸻ 4. Handling Showings • Be ready to schedule and host open houses or private showings. • Keep the home clean and welcoming at all times. • Be prepared to answer buyers’ questions directly. ⸻ 5. Negotiating Offers • Buyers may expect a discount since you’re not paying a commission. • Review all offers carefully; price isn’t the only factor—financing type, contingencies, and timelines matter. • You may want a real estate attorney to help review terms. ⸻ 6. Legal and Paperwork Requirements • Disclosures: You are legally required to disclose known defects or issues with the property. • Purchase contract: You’ll need a legally binding contract; many FSBO sellers use state-approved templates or hire an attorney. • Escrow/title company: They handle earnest money deposits, title search, and closing documents. ⸻ 7. Closing the Sale • The buyer’s lender will order an appraisal (if financing). • You’ll need to coordinate with inspectors, appraisers, and the title/escrow office. • At closing, you’ll sign the deed transfer, settle final costs, and hand over the keys. ⸻ 8. Pros and Cons Pros: • Save on agent commissions. • You stay in full control of the process. Cons: • Requires time, effort, and negotiation skills. • Limited exposure compared to listings in the Multiple Listing Service (MLS). • Risk of mistakes with contracts, disclosures, or legal compliance.

House Keys is brought to you by

Mountain Retreat Realty Experts

https://mtnretreatrealty.com

House Keys is produced by Birdman Media™

This Episode is additionally supported by the support of the following sponsors

Buffalo Bills Tavern and Museum / Buffalo Nickel Brewery and Grill
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