Dont Make These Fsbo Mistakes

by : Ken Hamric

Selling a home on your own is a something that can be very rewarding and also very confusing. If you aren't familiar with the process that are a number of downfalls that a first timer can make that serve to make the whole process more stressful then it needs to be. Here is a partial list of things that you will want to avoid in your FSBO sale. Hopefully these things will help you to realize a better profit form your home sale and take some of the pressure off during the sale.

The first mistake that many FSBO sellers make is pricing their property incorrectly. This is also true of many regular sales but FSBO sellers that have not priced a home before can easily get carried away in emotional recollections and this make pricing a home extremely difficult. IF you can handle the phone calls from agents the best way to find the proper value of a home is to have a few CMA's done by local agents. This should give you a good idea of how your home would be priced if listed with an agent. Pricing a home emotionally will never result in a proper and competitive price. Find out what other homes in your area are selling for and price your home to compete with them. If you overprice your home it will get less traffic and generate less interest.

Another big issue for FSBO sellers is finding approved buyers. Most realtors will ask viewers to produce a letter of approval from their mortgage company to ensure that their time and the seller's time is not being wasted by dealing with someone who cannot come up with the loan to purchase the home. There is no reason that you yourself should not require the same security. Ask any interested parties to provide a letter of approval and don't be afraid to check it out and make sure it is legitimate. This will save you a lot of time and potential heartache and headache if the buyer is not genuine. IN a FSBO sale you must be sure to protect yourself and your home. Don't take any chances and if you have any question don't hesitate to ask someone in the know!