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Tips on selling your home |
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-Assuming that you want to sell your home without a broker, you need to advertise it as FSBO (for sale by owner). -First fix any required repair on the property! Then obtain a home inspection report. Don't follow old stories that say only buyer does home inspection. You must get a home inspection done in order to attract potential buyers. You can demonstrate how you priced your home, by claiming that the inspection report gives a clean chit. After all, it takes only about $250 and two hours to get a home inspection done.
-Get photos, at least 4 of them, and as much as 20. The following aspects must be revealed in the photos:
curb appeal -Include a google map (location as well as satellite view of the location, or a hybrid) link in the advertisement -Discuss about nearby shopping centers, amenities, schools and how far are they. -Be completely forthcoming in your disclosure. Honesty only adds value to the price. -Just because you don't use a broker doesn't mean you should aim to maximize that gain. Price your home in a way that they buyer finds he is gaining from the lack of a broker. -List the taxes and other fees paid. -Explain why you are selling it. -Assist the buyer with financing (down payment etc). -If buyers still have difficulty in accepting, consider a full owner financing. Accept 10% down payment, and a 30 year note at 7% for the remaining 90%, if the buyer has good credit rating. Susbequently you can sell away the note to "notebuyers" within three months and you can get away with your full money! The "notebuyers" are fixed-income investors who are happy to get 1% more than what they will get from a bank. Further, these investors will sell the note to other big investors and create a portfolio of real estate notes. Hence, even they won't hold on to the note for 30 years. The note will keep hopping from hand to hand, which is not your concern anyway. Most sellers overlook this option while selling the home. Owner financing does not mean owner has to sit for 30 years to get his money! He just needs to sit for 3 months. Of course the notebuyer will expect certain discount like 15%. But that is the price you pay for cashing out. Believe it or not, there are numerous notebuyers.
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