# For sale by owner



## paratrooper (Feb 1, 2012)

Anyone have any experience selling a home by themselves, w/o the benefit of a realtor? Is it a complicated matter with lots of hassle? 

I need to sell my father's home and we have a realtor in mind. I haven't signed a contract yet. I had a guy stop by today and he told me that he had heard that my dad's house would be going on the market soon. 

I told him that was true. He implied that he would be interested in the house if it could be an owner / buyer situation. I told him that I preferred a realtor to help walk me thru the house selling process. He said that if a realtor was involved, he didn't consider that a deal breaker. 

My realtor agreed to a 5% sales commission. The standard rate is 6% I believe. 

Selling a house is something that I haven't done a lot of. The last time I bought a house, was back in 1988, and that was directly from the owner / builder. From what I recall, it wasn't too bad of an experience. 

Anyways, it anyone could offer some advice or tips, it would be appreciated.


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## Cait43 (Apr 4, 2013)

It is not all that difficult if the house is sell-able....... You would offer to purchase forms for the buyer to fill out... Best to have an real estate attorney for assistance.....

Try Google......
https://www.google.com/search?q=how+to+sell+your+home&ie=utf-8&oe=utf-8&client=ubuntu&channel=fs


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## Backlighting (Jul 2, 2012)

For sale by owner site has some really good tools to help you get your property sold:
https://fsbo.com


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## Backlighting (Jul 2, 2012)

P.S.
The library will have some relevant books. Doing it right will take time and patience...but you will save $thousands. Good luck.


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## Backlighting (Jul 2, 2012)

P.S.
The library will have some relevant books. Doing it right will take time and patience...but you will save $thousands. Good luck.


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## Steve M1911A1 (Feb 6, 2008)

My worry is the validity of the buyer's payment.
Insist upon the services of an escrow company, whether the state requires one or not.
Do not "carry the debt" yourself, but rather insist that, if there's a loan involved, you receive payment in full directly from the buyer's lender (via the escrow company, of course).

Make a requirement, as part of the sales agreement, that the buyer purchase title insurance. This will act to assure him, but it will also assure you.
Make the buyer pay for his own survey and assessment of the house and land. Then sell the house "as is, where is," with no guarantee of habitability.

Get your brother involved, so he can't later complain that you did something on your own with which he now disagrees.


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## SteamboatWillie (Jan 24, 2013)

Well, in my opinion you are far better off using a realtor. The commission you pay is well worth it, given you find a good agent. They are better at determining an accurate price that will sell the home quickly, they manage the advertising and showing, they bring a second opinion on how to "stage" the home to give it the most appeal, they help negotiate the deal. 

And most importantly, they pre-qualify potential buyers. Why spend time talking to people who may show great interest, but don't have the financial strength to make the purchase?

That said, you can do all those things yourself, but unless you have the time, inclination and patience to learn, work the sale and get the deal closed, the agent will generally do a better job.

In the spirit of full disclosure, my wife was a Realtor for many years. 

But even with her experience, she would never attempt to sell our home without the use, and resources of a Realty company.

ETA - Wait, maybe I've been brainwashed!


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## BackyardCowboy (Aug 27, 2014)

You may need to have a home inspection done to insure the house's condition (that there's no hidden problems.

I don't know enough about it, so for me, I'd probably use a realtor who knows the ins and outs.

Good luck


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## RK3369 (Aug 12, 2013)

Better do some research and find out what the laws are regarding property disclosures in your state. In SC you are required to fill out a property disclosure form and deliver it to the buyer prior to closing. If you don't and undiscovered problems show up within the first three years after the sale, you are liable for damages for failing to disclose such issues if you knew about them (i.e. Things like lead based paint, asbestos, termites, bad water supplies, etc.) I think a real estate attorney is your best bet anyhow whether or not you use a broker.

If you use a realtor, make sure they qualify buyers before they bring you a contract. A co worker has had his house on the market for 6 months and has had three offers fall through because the buyers could not get financing. Huge waste of time to tie the property up long enough to go through the process. He finally fired the broker and got a new one who will only bring prequalified buyers to the table. He has probably lost 4 months having the house tied up with the three different deals, all of which fell through.

Last thing, if you have someone who wants to buy but wants you to take back a mortgage, run away. If they have assets and are a good credit risk, they can get financing. If not, you don't want to have to be chasing them down every month to collect your mortgage payment. And foreclosure is also long drawn out and quite expensive in legal fees, etc. just forget anyone who wants you to take back a note.


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## Superzuki (Jul 22, 2016)

I used a real estate lawyer. He just charged a fee for his services, no realtor's % charges.


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## boatdoc173 (Mar 15, 2014)

I think you can post an ad on zillow still

craigslist--although who knows what may show up--be careful

good luck with all of this


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## boatdoc173 (Mar 15, 2014)

Steve M1911A1 said:


> My worry is the validity of the buyer's payment.
> Insist upon the services of an escrow company, whether the state requires one or not.
> Do not "carry the debt" yourself, but rather insist that, if there's a loan involved, you receive payment in full directly from the buyer's lender (via the escrow company, of course).
> 
> ...


 a real estate versed attorney can handle title searches, compliance with the law and escrow as well as a closing for under 1 grand


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## MoMan (Dec 27, 2010)

PT,
If I recall your Dad's house is not in the town where you live. If this is the case I would definitely hire a Realtor. Otherwise you will be the one running back and forth every time someone wants to see the home, often times not showing up. For me, I would hire a professional and let them do what they do. A pro will know what the market will bear for the home, a good agent also will have the ability to pre-scan potential buyers from a financial standpoint. They will take care of the whole deal from the listing, advertising, showing, contract negotiations, and right on through the actual sale, and closing. The fee seems reasonable to me when you think about all of that. Keep in mind, you are going to have folks wanting to see the property in the morning, afternoon, and evening due to their schedules. It could become a real pain.
I am not connected to the R.E. industry at all, just my observations.

MO


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## pic (Nov 14, 2009)

Realtor, especially if it's part of an estate to be divided. IMO. 

Keep specific receipts of money spent. It adds up quickly

good luck

:smt1099


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## paratrooper (Feb 1, 2012)

Thanks for all the replies and advice. I think I'm going to go ahead and sign with a realtor. I want as little hassle as possible and everything to be straight-forward. 

I've had a lot on my plate the last 9 months or so, and I'm tired......real tired. I'm just not up to taking on a whole lot more at this point. If I deal with a realtor, they will do all the work for me and do it correctly. I don't want to learn as I go if I do the sale myself. 

I'm still living in my father's house and will be here until we get it listed, cleared out, and turn the keys over to the realtor. Once that has been accomplished, we will head back to AZ. and go home. I'm soooooo ready for that. 

I've learned a lot in regards to this period of my life. It was very challenging and difficult at times. There were times that I thought I may not be up to the task. But, I kept moving forward and did what had to be done. Looking back now, I can see where I did well and where I came up short. 

It's behind me now, and my father is no longer in pain or discomfort, and he's in a far, far better place than he was here on earth. This period of my life is one I'll always remember.


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## Tip (Aug 22, 2012)

We just sold w/o a realtor. Hired a Title Company to handle all the details, they provided contract, disclosures, taxes, title search, abstract and insurance and set up and handled closing. The realtor's function is to market the house and do the negotiations b/n seller & buyer. Once the deal is made they hand it all over to a Title Company. If you have a deal already made (or are very close to one) the realtor doesn't bring anything to the table except to be middle-man between you and the Title Company (and reach deep into your pocket to do so).
If you need to market the house then by all means go with a Realtor -- if you already have a deal don't - go find a Title Company.


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## paratrooper (Feb 1, 2012)

Tip said:


> We just sold w/o a realtor. Hired a Title Company to handle all the details, they provided contract, disclosures, taxes, title search, abstract and insurance and set up and handled closing. The realtor's function is to market the house and do the negotiations b/n seller & buyer. Once the deal is made they hand it all over to a Title Company. If you have a deal already made (or are very close to one) the realtor doesn't bring anything to the table except to be middle-man between you and the Title Company (and reach deep into your pocket to do so).
> If you need to market the house then by all means go with a Realtor -- if you already have a deal don't - go find a Title Company.


We don't have a deal waiting. The house hasn't been listed as of yet.


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## boatdoc173 (Mar 15, 2014)

Paratrooper

I gues s I missed it--sorry your dad passed. Be glad you did what you did for him. He died being loved .

Yeah list it and go home

when we did this in the past, we cleaned house,packed up all we could. Not sure if an empty home is a good thing, maybe stage it with some of dads presentable furniture. Fresh paint if needed, fix up anything that might slow a buy. It must be very clean and you ar e good to go(HOME!!!). check realtor.com and zillow for comps on t he house. It will help price it right for a quick sale

one caveat though. the best time to list is over for the year(march- July). IF you list now, do it for 3 months, then get off the market for a few months(holidays) and reenter(if needed) in February. You do not want the home to appear to be on the market for 3-4 months of non activity over holidays time. Buyers watch for too much time on the market as a clue to a troubled property

good luck. Be at peace. well done PT well done!


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## Bisley (Aug 24, 2008)

From my own experience, I'm guessing that your decision is a good one. I can't say for sure, because I didn't go the same route, but probably should have.

If you can make a clean break from those responsibilities, and resume your own life immediately, you should do it. I did not, and the paralysis of indecision has plagued me for quite a while, now. It is very easy to slip into this 'paralysis' and it can impact your own life in negative ways, if you don't avoid it from the outset. My mother died two years ago, and I have still not resolved all of the issues, mostly due to waiting for other family members to do their part.

So I say make the big decisions soon and put them behind you, even if it means letting the realtor make a big profit. Resuming a healthy lifestyle should be your number one goal. Let it go, and re-visit it after you are happy, again, if necessary. Just don't let the situation drag you down any further.


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## paratrooper (Feb 1, 2012)

My father's house is literally move-in ready. Two realtors have walked thru it and both agree, it will be a quick sale. My parents took extraordinary care of it and maintained it well. 

It's in one of the best school districts in the whole state, as well as a much preferred part of Spokane. My parents had a cleaning gal come to clean once every three weeks for the last 7 years or so. She will come again one last time for a full day when I give her the word, to make sure the house is as clean as it can be. 

Interior paint is good, as well as exterior. I don't plan to do any improvements, upgrades, or changes. It was built in the mid 1970's, so obviously, it's dated. It will be sold as is. The new owner's can change the carpet, paint, or whatever, to meet their needs. It will be listed as an estate sale. 

The realtor that we plan to use, suggested that 1 yr. of home warranty be purchased to warranty any thing that might crop up before, during, or after the sale. It would cover things like appliances, plumbing, electrical, a/c, furnace, and such. That runs about $300.00 or so. 

I've been selling a good deal of the furniture on CL for the last several months. I'm making good progress in that regard. My brother was here for about 12 days, and we got a lot accomplished. Things like the garage, downstairs storage room, RV bldg., and some bedrooms cleared, organized, and sorted out. Almost all of the "grunt work" is done. 

Now, it's just a matter of clearing out the house for good once my wife gets here. She flies in on Aug. 3rd. I'm going to rent a tandem-axle U-Haul trailer and take back with us, whatever we want to keep. I plan to leave the fridge, stove, dishwasher, clothes washer / dryer, in the house. There's also a covered upper outdoor deck that has a very nice three person swing and table / chairs on it. They too, will stay with the house. 

I don't plan to stage the house with furniture. I don't want to have to deal with removing it once the house sells. We live 1200 miles away. I don't plan to return to Spokane for some time. 

A next door neighbor and a good family friend will have keys to the house and will keep an eye on the property. Both obviously will have my phone number in case something comes up and they need to call me. The house has five bedrooms and three full baths. It screams big family. This neighborhood once was full of kids and all the activity they could muster. Those kids grew up and moved away. It's just now beginning to come full circle again and young families with kids are now once again returning. I can see this home and a new family as part of that evolution.


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## BackyardCowboy (Aug 27, 2014)

You probably have already done it, but any 'family' pics (read that as pictures of people) need to be removed. You are taking your parents home back to being a house for another family to make into their home. Pictures of actual people/family can make a sale a little more difficult. realtors usually remove or store any pics with people.


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## jtguns (Sep 25, 2011)

The only one word of advice I would give you is hire your own appraiser and pay a small fee usually about $500.00 so that you have a independent value of the property. That way you can have a starting point for listing the house. Like Steve said list it as is and that way you won't be doing upgrades just to sell it, but that can limit your offers. Just sold my mother's house and had to sell to a developer about $100,00.00 below market, but to bring the house up to code, it would have cost about $150,000.00, so pick your battles. 
Just my 2 cents worth.


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