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Why Is Selling Your Home Yourself A Bad Idea?

Why Is Selling Your Home Yourself A Bad Idea?

For sale by owner has been around a while. Home owners will always have the option to sell their home on their own. Does that meant the for sale by owner is the right route for you? What are the risks? Lets tale a look.

  • FSBOs are more costly than homeowners realize — including lower sales prices and hidden fees.
  • Selling a home is a complicated transaction — sellers and buyers alike can get burned with FSBOs.
  • Time costs money — a FSBO costs the seller valuable time, and it takes longer to sell.

Liability
Everyone makes mistakes. A seller (or buyer) who doesn’t have the representation of a licensed agent pays for those mistakes. Attorneys can close a real estate transaction, but they don’t have errors and omissions insurance. Realtor Insurance

So if homeowner Sandy lists “hardwood floors” as a feature and the buyer discovers it’s just a wood veneer, chances are Sandy is going to pay for that mistake. An agent would have either caught the mistake or covered it with E&O insurance.

Stuck In A Deal?
Once the contract is signed that is it. Are you 100% sure of what is in it? If you want out you may have to pay the buyer (if they’re willing) to get out of or just take the deal.

FSBOs sell for less

According to the National Association of Realtors in 2015 ‘for sale by owner’ homes sold for 15% less. That increased to over 25% less if the home was sold to someone the owner knew.

Realtors know how to market, price, and negotiate your home sale in a professional manner.

Handling The Inspection Process
Do you know what an average home inspection finds? Do you know how the average negotiation after an inspection works? Realtors do. Do not get forced into costly re-negotiations for easily/commonly resolved items.

Time Is Money
What is your time worth? Open Houses, Marketing, Phone Calls, Tire Kickers, Appointments, Scheduling, Paper work, Inspections, on and on and on.

Thinking Of Selling?
The first step when selling your home is getting an accurate evaluation. Use our Find Your Home Value section to do just that.

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