You have seen houses for sale by owner before, and you wonder if you can do this for yourself. You sure can, and there are many reasons why you might want to consider this for yourself. With over five million existing homes being sold in the US in 2019 alone, you’re likely to be among many people who have considered homes for sale by owner.
Whether you have a home that is facing foreclosure unless you can unload it to an investor or another party fast, you’ve inherited a house you don’t want or need, or you have other reasons for selling a home, you can put a for sale by owner sign on your lawn and get your home sold successfully. Here are reasons to consider listing your home without a listing agent.
You Avoid Realtor Fees
When you list your home with the help of a real estate agent, you have their expertise by your side, but you also have their fees. Your realtor can take up to 6% of the selling price of your home, which can really eat into your profit. If you want to get profit off your house or you don’t have a lot of equity in your home in the first place, moving your property fast and listing your home for sale by owner can be a great move for you.
You’re in Control
You have more control when you list your house for sale by owner. If you want to be able to host your own open houses, choose the asking price of your home, choose when people can see the property, and you can list your property how, when, and where you want. Granted, you have more work involved on your end if you choose the FSBO route, but if control is what you want when listing your property, this is the way to go.
You Appeal to Cash Buyers
Selling your house to someone who wants to buy a house with cash is a great way to go about the for sale by owner route. A direct sale can happen when you list your home FSBO and you can work directly with the people interested in your home. If you list a house for sale with a real estate agent, cash buyers may look the other way since they don’t want to deal with further negotiations, but they will be likely to come your way if you list your home on your own.
You want cash buyers for your home because a cash sale puts money into your pocket sooner and can lead to a better profit margin. Before you list your home for sale by owner, make sure the current deed is in your name, your real estate taxes are caught up, and the home is ready to be sold into new hands. This way, you avoid most of the common snags that can occur when selling any home, FSBO or otherwise.