Tips for Selling Your Home without a Realtor | By a Real Estate Attorney

John McConnin, Esq
Published on March 23, 2016

Tips for Selling Your Home without a Realtor | By a Real Estate Attorney

Think of Selling your Home On Your Own?

As a real estate Attorney, I tried and this is what I learned.

Eliminate Buyer Objections, anticipate them and eliminate them if Possible. 

Reason: You are going to run into buyer’s looking to low ball you because they hope buying without a Realtor means they get to save the Realtor fees, not you.   Another type of buyer is the buyer who is a bit hesitant to be involved in a transaction without a professional.  Seeing their minds at ease may stimulate the purchase offer you are seeking.

So if you can show that your home has been inspected and repaired

  1. Have your home inspected by a professional and repaired ahead of time.  You can show this report to the buyer.
  2. Have your home appraised.  If it is a number you like… again, share the report with buyers.
  3. Have sample contract prepared for them ahead of time.  (this can be a major advantage for you.)
  4. Have your disclosures prepared ahead of time and share them
  5. Prepare a property information sheet – explaining your features and benefits
  6. Consider offering closing incentives if you think they might stimulate a solid offer
  7. Work with a Mortgage Person to pre-qualify your buyers
  8. Contact a title and escrow company so you can tell the buyer where to send the deposit check and know your costs and potential net ahead of time.

 

Pricing and Marketing Your Home

  1. Get a feel for the real estate market trends in your area and price range
  2. Figure out the range of Fair Market Value for Your Home
  3. Determine where you wish to price your home in the range or above it.  (as you going higher in the range, marketing, negotiating, and communication  become more important)
  4. As you seek a higher price, staging and curb appeal become more important
  5. Consider Professional Pictures
  6. Consider Professional Video
  7. Remarks should feature your properties biggest strength and be tailored to the type of buyers you are likely to find in your buyer pool.
  8. Consider “syndicating” your listing to Zillow, Trulia and other sites.
  9. Maybe work a deal out to get your property on Realtor.com and other sites which take the Broker feed from the MLS.
  10. Post on Craiglist
  11. Market your Property of Facebook to a customized audience
  12. Good signage for your Property and Open houses (if you have them.)
  13. Market to friends and neighbors in the neighborhood.  (if you are not willing to do that, you should probably work with a Realtor)

Why consider a Realtor or an Attorney

If your home shows well or is priced right and you have had showings and no offers –  sometimes buyers need to feel like they are protected.

Watch the Video for more info on this subject.

 

Offer to closing (this is a very abbreviate list)

  1. Now that you have an acceptable offer make sure it is properly executed.
  2. Open Escrow – There are reasons to have an independent escrow company but to keep it simple I suggest you use your title company’s escrow.
  3. Make sure buyer deposits his/her/their check
  4. Ensure buyer sets up their inspections with you.
  5. Prepare (if you have not done so already) and deliver your disclosures
  6. Make arrangements to move out and leave the property in the conditioned required by the contract
  7. Close contingencies.
  8. Coordinate signing the documents you will need to sign with title and escrow.
  9. Have a final walk through for buyer.
  10. Wait to hear that the sale has been recorded
  11. Deliver Keys and Garage door openers etc.
  12. Make sure Escrow has sent the money to your lender (if any) and your accounts.
Tips for Selling Your Home without a Realtor | By a Real Estate Attorney
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