Pros and Cons of Selling a Home as a For Sale by Owner
Posted Thursday, June 13, 2013
Selling a home on your own is difficult and time consuming. You have to perform all the extensive financial, marketing and legal tasks usually handled by a real estate agent. Before making your decision, consider the following pros and cons of selling your home as a For Sale by Owner (FSBO).
Here are four advantages to selling your home as a FSBO:
- You don’t have to worry about finding a competent real estate agent.
- You get to control the real estate transaction from start to finish.
- You don’t have to pay the required commission, unless the buyer uses a buyer’s agent.
- You can price your home at whatever price you believe is best and lower it any time you want.
Here are six disadvantages to selling your home as a FSBO. You have to:
- Pay for and create all the marketing and advertising.
- Be available to show your home at all times of the day and all days of the week.
- Be an excellent negotiator in order to get the best price and terms.
- Coordinate with the buyer or the buyer’s agent throughout the escrow period, helping to make the house available for inspections and appraisals and make sure you’re doing your part to close the deal.
- Learn the legal rules that govern real estate transactions in your state.
- Manage all the paperwork and fill out all the legal forms.