Fearlessly Selling Your Own Home, On Your Own Terms: Yes, You Can Do This!

Real Estate Blog

No matter what your personal circumstances, when you own your own home, you want to feel like you're in total control of it. Of course, when you sell that home, you should still feel like you're the one calling the shots. You can do that, by selling it yourself and on your own terms. It may not be a simple, cut-and-dry endeavor, but that doesn't mean you can't be the master of your own destiny when selling your house.

The Benefits Of Selling Your Home Without A Realtor

While realtors may take a considerable amount (in commission and fees) off the top of the price of your home, they also do a lot of work. If you're up to the task, the DIY route will save you a significant amount of money and can easily speed up the sale, especially if you want to sell your house for cash. Going without a realtor puts you face-to-face with the buyers who either want to invest in your property now or are ready to move in as soon as you leave.

Additionally, without a realtor, you can own your schedule, instead of having to open the door every other day to "browsers" who may simply be "in the market", but not yet ready to buy. Real estate agents are driven professionals, accustomed to a sequential set of events that must transpire on a set schedule and that can drive any seller a little bonkers.

The Advantages Of A Cash Sale

Traditionally, buyers (both professional investors, as well as those looking for a new place to live) tend to stick to the deal when it involves cash. Also, when people are laying down cash, they're more likely to want to move the deal along quickly, as opposed to situations where the bank's money is backing the deal. Unfortunately for many, when a would-be buyer gets cold feet, the deal collapses, and that's more apt to happen when the process is long and drawn out, such as when waiting to complete all the steps involved in satisfying a lender.

How To Make It Happen

Setting yourself up for success in selling your home requires doing your homework and, especially if you're selling for cash, investigating everyone you're dealing with. Set aside some time to learn the ropes and lay out your plan:

  1. Pricing: Research current market conditions and how they apply to your home specifically. If you have bonus features in your home or on the property, such as a fireplace and pool, price accordingly. Think about offering a discount for cash buyers, as that's the norm in any market, but don't sell your assets short.
  2. Marketing: Depending on who you're marketing to, such as the general public or investor agencies, you'll need to list the home accordingly. Local ads, a sign on the lawn and even national marketing should be considered to expand your pool of potential buyers and avail yourself to greater opportunities.
  3. Presentation: A cash-for-homes agency may not even need to see the home, but if you're marketing to other buyers, prepping the home is important. Clean out the garage, attic etc, stage all areas with style and professionalism and organize the time you'll show the property, perhaps presenting it to multiple would-be buyers simultaneously.
  4. Legalities: It's important to protect yourself, by qualifying potential buyers and/or investors, composing (or hiring an attorney to compose) a purchase agreement, settling the deed, designating responsibility for repairs, disclosing everything that's required of you and possibly holding a deposit in escrow, among other legal details. Your local laws should be examined so that you are fully compliant with them; many DIY sellers consult with a lawyer for complex issues or if any hiccups in the process arise.

Using A Real Estate Investor Agency

If you really want to sell your house for cash as quickly and effortlessly as possible, consider contacting an agency that specializes in matching investors with such sellers. With a well-screened agency, you should be able to receive quick appraisals and no-nonsense offers, as the investors have a set formula for quick cash sales. Sometimes, the cash amount you're offered won't meet with your expectations; however, if you weigh your options in a situation where speed and efficiency are paramount, this strategy may be the most advantageous.

Saving Your Sanity Throughout The Process

You probably have never sold a house before on your own, which means the process could be overwhelming. However, if you stick to your well-researched plan, carefully scrutinize the buyers you deal with and maintain control over the schedule that dictates the eventual sale, you should be able to keep your sanity intact. Additionally, preparing for the cash you'll receive from the deal will give you a greater feeling of security.

If you're in a considerable amount of debt, earmark the cash toward lowering the debt and the burden you're bearing. On the other hand, if your finances are in good shape, consider investing the money toward long-term goals, such as retirement planning. Either way, despite the intermittent chaos that overtakes your life while your house in on the market, you should have a solid idea of where the cash is going to go and how you're going to put it to work.

Selling a house isn't usually simple and easy for anyone, even those choosing to list with a realtor. While it may be a bit more adventurous taking the DIY route, the freedom to call the shots and ultimately get exactly what you want on your own terms is definitely worth it.

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