Selling Your Home On Your Own - Examples Of Problems And
By Raynor James, Fri Dec 9th
What can go wrong? About a gazillion things, but this is trueif you're working with a broker, too. A broker is probably moreexperienced than you, and may well have confronted and solvedyour problem on a previous home sale. If you can stay calm andthink under stressful conditions, you can be your own problemsolver without the need for a broker. Plus, there is noguarantee the broker will get it right.
A longer list of possible problems from real life are for alater article. I will include a couple here just to help yousize up your willingness to cope on your own.
Problem One - You have a contract with a buyer, but the buyergets cold feet.
Solution -
The Benefits of Selling Without a Broker
Each year more and more people are making the decision to sell their home alone. After making the decision to sell without a broker and finding the right advice these individuals have realized that the savings they have made are substantial and the amount of time and effort spent was well worthwhile.
FSBO - Avoid Some Common Mistakes
For selling your FSBO property, you need to avoid some of the common mistakes. There can be a number of things that you might need to perform before you actually offer your property for sale.
Be calm, matter of fact, and pleasant. Encourage yourbuyer to open up and tell you what's in the way. "I don't wantyou to buy our home if it's not right for you, but you seemed toreally like the house (condo/townhouse/whatever), and now you'renot sure you should go forward. What's changed? What's troublingyou?"
If they level with you, you have a shot at helping them overcometheir objections and solve their issues. You may even findthey've misunderstood something. If so, correct information maybe all that's needed.
However, if this approach doesn't work, and the buyer no longerwants to buy, let them go and move on. As long as the buyerwants to buy and the seller wants to sell, most problems can besorted through. If one of them changes his mind, it's over. (Youcan probably sue for "specific performance" under the contract,but do you really want your property off the market while youdeal with that?)
Problem Two
Your buyer has made an inspection by a home inspection firm acontingency of the contract. The home inspector comes up with alaundry list of items to be repaired or replaced. Your buyerrequests that they all be done prior to settlement.
Solution
Don't let your ego get in the way. It's not personal. It's realestate, and big bucks are involved. Take a deep breath. Go overthe list. How much money is really needed to make the repairs?Can you do any of it yourself? Call a plumber, carpenter,roofer, electrician, or whatever trades you need and get aballpark idea. If the result looks reasonable, get closerestimates and agree to have the work done.
If it's too expensive, explain to the buyer that the price ofthe home takes into account the condition. If the repairs aretoo expensive, can you and the buyer agree to "split thedifference?" That is, can you do some items on the list and notdo others because (you will explain to your buyer) the home waspriced accordingly, but you are willing to compromise if he is.
If the repairs are too time consuming (the trades can't takecare of it before scheduled settlement), you are going to haveto give it some thought. Can you agree to provide a sum of moneyto the buyer at settlement with which he can have the repairsmade?
The key to coming up with solutions to the particular problem isto stay calm and thoughtful. The buyer is not your enemy. Withany luck you can work out a win/win solution.
About the author:Raynor James is with http://www.fsboamerica.org - providing FSBOhomes For Sale By Owner. Visit our "sell my home" page athttp://www.fsboamerica.org/seller.cfm to list and sell your homefor free for one month. Visithttp://www.fsboamerica.org/buyer.cfm to see homes for sale byowner.
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