How To Sell Your House For Little or No Cost!

Home Listing  Services

Today's buyers are more demanding. They're savvier about market dynamics, public data and they armed with smartphones, iPads, Chromebooks, laptops, etc…plus they run on their own schedule...not yours.

Most often, when home buyers ask a question, they already know the answer because they’ve searched it online. Buyers want access to your house when it works for them, not when is convenient for you the seller. They don't want to wait for an open house, they want to see pictures, videos, presentations and much more now! ..if you want to attract buyers, you need to do more of what buyers want….

How to Attract Home Buyers For Your Home?

if you want to attract buyers, you'll need to go where they are and do what they want….

As a broker responsible for hundreds of homes sold over the last 20 plus years, I know what it takes to bring attention to my listings. You need to be creative, full of incentives and be different if you want buyer's attention.

How To Promote Your Property Online?

 You can have flyers available at your home with information and contact details, but that is so the 90's ...no one sells houses with flyers alone, the easiest way is advertising it on Facebook. Advertise your house to the right crowd by choosing the most likely home buyers that would be attracted to your property. You should also make a video tour of your home and post it on Facebook as advertising to get the word out and pull out the buyers from the right places.

Advertise your house to the right crowd by choosing the most likely home buyers (audience) that would be attracted to your property. You should also make a detailed video tour of your home and post it on all available social media to get the word out and buyers will suddenly emerge.

Steps to Selling a House by Owner

  1. Prepare home ready for sale
  2. Find out how much is your home worth? 
  3. Make a decision, sell on your own or (hire a broker and stop here)
  4. Obtain all the proper documentation
  5. Market your home, advertise.
  6. Show your home
  7. Receive Purchase Offer and negotiate
  8. Validate approval letter
  9. Release security deposit to closing company.
  10. Deliver seller disclosures
  11. Remove contract contingencies and inspection 
  12. Ask buyer to release contingencies as per the contract
  13. Order title work and schedule closing day 
  14. Closing day. 
  15. Sample: Our 99 Steps To Sell a Home

Paperwork for Selling a House Without a Realtor

• Find/order the survey that shows property boundaries

• Disclosure forms required by your specific state

• Disclosure forms required by specific county
• Your County jurisdictional addendum
• Inclusions/Exclusions Disclosure
• HOA Resale notice, HOA Substantial & Material Amendments
• Delivery acknowledgment document for resale package.

• Receipts and warranties for appliances, finishes and upgrades
• Disclosure: Plans and permits for all additions and upgrades
• Disclosure: Certificates of occupancy, which signal compliance with municipal building codes
• Loan documents, including first mortgage, second mortgage, and home equity line of credit
• Latest utility bills
• Latest property tax bill
• Title & Survey
• Commission agreement for buyer's agent if you are offering it as an incentive (For Sale by Owner Commission Agreement) 
• Construction and occupation permits if required
• Proof of homeowner’s insurance and CLUE report disclosure.
• Utility bills history for the last 12 months
• Homeowners’ association covenants and agreements (resale package) 
• Floor plan or blueprints, if available


For Sale by Owner Closing Costs Calculator


A title company 's attorney can tell you what the closing costs are. Don't rely on online information. This could cost thousands of dollars. If you are selling your home by owner, you should ensure that you have the advice of a real estate attorney right away so you don't break any laws. If you are selling with a broker, they will give you an estimate costs sheet that includes all the commissions and closing costs.

 

General Questions & Answers: 

 

How To Find Low Commission Real Estate Brokers?

In general, is not a good idea to find a listing broker by price alone. You want to put preference on their experience, their past record and results. You may get full service with excellent marketing for just 1%, or minimal service and minimal marketing paying up to 3%. My suggestion is to get a detailed written list of the marketing provided and interview brokers by merit and not by what they charge.


How To Avoid Paying Full Commission?

Commission rates are always negotiable and can vary from broker to broker. The key to negotiating the best rate is to compare and interview several agents in your local area and ask them directly what would they do to market your home. You don't have to pay a full 6% commission to get the best service. You need to find someone you can trust that cares enough to help you sell your home for a reasonable cost. 

 


How To Sell Your Home Fast On Your Own?

selling home fast Anyone can sell a house super fast simply by cutting the price far below what it’s worth. There are investors in our local area that will buy your house for cash in almost no time. They have cash and they will buy your house at a discount.

How much discount?
As much as 40 to 50 percent below market value!
If you need to sell your home fast, you will have to sell it at a discount.
You can not achieve selling your house for the most money fast…you have to pick what is more important for you. Money or Time?

 

What is the Least Expensive Way to Sell a Home?

In order to avoid paying any real estate broker fees, a seller would have to exclude participation by “ALL” real estate agents in the listing and buying side. In other words, the sale would be restricted to principals only.

If you are selling a house restricted to principals only, then you will not have to pay any commissions.

This method of selling houses works best only between parties that are already friends or between relatives. Under normal circumstances, any property that is not exposed to the "larger population" of the market, where the largest pool of potential buyers exists…can not be sold for the "highest possible price“. To expose your house to all potential buyers out there, you will have to offer some type of commission if you want to attract buyers.

To expose your house to all potential buyers out there, you will have to offer some type of incentive (commission)  if you want to attract qualified buyers working already with their agents.

house worth


What Documentation is Needed to Sell Your Home?

See above under Paperwork for selling a house without a Realtor.


How To Avoid Paying Two Commissions?

All Real Estate Commissions are negotiable. Generally, the seller pays both sides of the commission when working with an exclusive listing broker. 

The buyer's side commission is paid to the real estate agent who produces a ready, willing and able buyer.

The seller's side commission pays for all the marketing, guidance, protection and is considered a listing expense that can be deductible on your taxes.

As a broker, in some cases, I give a break to sellers by not charging a double commission when I find a buyer with no representation, that is in the event that the buyer I find for my seller(s) does not have a real estate agent, I only charge them one commission...the listing side.

Call me to get more information about this by dialing my direct number 240-426-5754


How Do Sellers Pay Buyers Agent Commission?

As per my answer to the above question. The buyer's side commission is paid to the real estate agent who produces a ready, willing and able buyer. This is paid at closing from the proceeds of the sale of the property and it is tax deductible.


How to Sell Your House for Sale by Owner?

You need to understand the selling process fully before you attempt on selling a house on your own Watch the video below to understand the process: 

 



How do Buyers Agents Make Money?

Buyer's agent only makes money when all these actions occur - If they miss one, they will not get paid.

  • Find a buyer through traditional marketing methods or paying lead service aggregators like Zillow, Trulia etc
  • Help them qualify by guidance and direct assistance from a reputable loan officer.
  • Sort out the buyer's finances to be ready with all the money needs to buy a home.
  • Search and show  houses that meet all the requirements to fit their needs
  • Write a contract and negotiate directly with the seller or the seller's agent
  • Coordinate all inspections, repairs, and conditions of the contract to remove contingencies.
  • Assist buyer to finalize all the conditions of their mortgage loan and obtain a commitment from the lender
  • Assist buyer to sell their existing home if there is one to sell. 
  • Go to closing and get paid.

Remember, all serious buyers are already working with a buyer's agent, this is why you should offer an income to real estate agents to bring buyers into your home. That incentive is in form of a commission.

How much should you offer?  The same or more what competing properties are offering in the surrounding neighborhoods.

For more, please refer to the question above: "What's the least expensive way to sell a home? "

house worth


Do You Really Have to Pay a Buyer's Agent?

Please refer to the question just right above: 

How To Make a Buyer Pay "ALL"Commissions When Selling Your Home?

This one is tricky and involves a proven strategy. This is something that we created and we share it as an alternative with all our sellers. Please call 240-426-5754 for a no obligation appointment to learn all the details. 

What Can Go Wrong In A Transaction When You Doing It All Yourself? 

You need to be prepared for the unexpected. A transaction is not complete until papers are signed at closing. There are many potential issues that could arise in what may seem like the easiest of sales. The key is to work through the issues and make it to the closing table. As a listing broker, I have experienced many of these issues first hand and have lived to talk about it.
Here are some of the most common problems that could come up during a transaction.

Financing Side:

  • Lender doesn't properly qualify Buyer.
  • Lender decides last minute they don't like the Buyer or the property.
  • Lender orders a second property appraisal or requires last minute repairs to home before issuing final loan commitment.
  • Lender raises rates, points or closing costs just prior to closing either disqualifying Buyer for purchase or upsetting Buyer enough to walk from deal.
  • Buyer doesn't qualify because of late or additional information received.
  • Lender gets information from Buyer in bits and pieces, missing key deadlines to close on schedule.
  • Lender loses file.
  • Loan Officer relocates to another company and no one wants to finish the deal.
  • Buyer doesn't like fine print, pre-payment penalties and other undisclosed fees in documents received minutes prior to closing.
  • Lender has gone into bankruptcy and can no longer fund the loan.

Attorney Side:

  • Previous closing attorneys improperly records deed.
  • Previous closing attorney forgets to or improperly records mortgage
  • Tax liens on property not being discharged or recorded.
  • Court judgments, pending sewer or condo association betterments not
    being discharged or recorded.
  • Bankruptcy Court involved on a past transaction either side.

Inspections Side:

  • Radon test fails.
  • Mold test fails.
  • Home Inspector scares the Buyer with the tone of their comments during
    inspection.
  • Home Inspector finds numerous small or minor repairs that overwhelm
    the Buyer.
  • Major problems with roof, heating systems, plumbing and electrical or
    any other structural or necessary systems are discovered.
  • Water Quality or Quantity Tests fail.
  • Smoke Detector Inspection fails.
  • If applicable,  Septic Inspection fails.
  • If applicable, Perc Test for new septic system fails.
  • Contractors hired to repair agreed upon issues perform unacceptably
    work to the Buyer.
  • Contractors don't meet deadlines for completion of work

If you decided to use the services of a Broker to sell your home, please consider my services: 

 

Help To Sell Your Home

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