FSBO First Aid Kit

For Sale By Owner is a challenging endeavor that you shouldn’t manage alone. Click on the links below for important information about selling your home and then contact us regarding advertising your home on this site for free today.

Tips on Pricing Your Home
10 Ways to Make Your House More Salable
Is Your Buyer Qualified?


Tips for Pricing Your Home

Consider comparables. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?

Consider competition. How many other houses are for sale in your area? Are you competing against new homes?

Consider your contingencies. Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in four months?

Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, ask me for a recommendation.

Ask a lender. Since most buyers will need a mortgage, it’s important that a home’s sale price be in line with a lender’s estimate of its value.

Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell.

Know what you’ll take. It’s critical to know what price you’ll accept before beginning a negotiation with a buyer.


10 Ways to Make Your House More Salable

  1. Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage.
  2. Wash your windows and screens to let more light into the interior.
  3. Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for.
  4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows.
  5. Put higher wattage bulbs in light sockets to make rooms seem brighter, especially basements and other dark rooms. Replace any burnt-out bulbs.
  6. Make minor repairs that can create a bad impression. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they’ll give buyers the impression that the house isn’t well maintained.
  7. Tidy your yard. Cut the grass, rake the leaves, trim the bushes, and edge the walks. Put a pot or two of bright flowers near the entryway.
  8. Patch holes in your driveway and reapply sealant, if applicable.
  9. Clean your gutters.
  10. Polish your front doorknob and door numbers.

Is Your Buyer Qualified?

Unless the buyer who makes an offer on your home has the resources to qualify for a mortgage, you may not really have a sale. If possible, try to determine a buyer’s financial status before signing the contract. Ask:

  1. If the buyer has been pre-qualified or pre-approved (better) for a mortgage. Such buyers will be in a much better position to obtain a mortgage promptly.
  2. Does the buyer have enough money to make a down payment and cover closing costs? Ideally, a buyer should have 20 percent of the home’s price as a down payment and between 2 and 7 percent of the price to cover closing costs.
  3. Is the buyer’s income sufficient to afford your home? Ideally, buyers should spend no more than 28 percent of total income to cover PITI (principal, interest, taxes, and insurance).
  4. Does your buyer have good credit? Ask if he or she has reviewed and corrected a credit report.
  5. Does the buyer have too much debt? If a buyer owes a great deal on car payments, credit cards, etc., he or she may not qualify for a mortgage.
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Maria Pena Morales President of Team Q - DRE Lic. # 01370123 For all your Real Estate questions contact Team-Q Today!

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