Choosing the For Sale by Owner (FSBO) route when it comes time to sell your house can be a rewarding experience, but also extremely challenging. Before making this decision, ask yourself a few key questions so that you are prepared for the process that hopefully leads you to your next real estate transaction:
How will you market your property?
While you certainly can market your property by telling all of your family and friends about it, think about whether you have any connections within the real estate industry. Do you have the tools and know-how to properly distribute your property’s details to prospective buyers? Even if the correct research is done for online promotion, some websites will deny your promotion without the involvement of a licensed real estate agent, which ultimately decreases your audience.
How are you going to handle possible counteroffers?
Real estate agents who are involved with a variety of markets are used to the negotiation process. They know exactly which offers are fair, and which deserve yet another counter. Improper procedures regarding an agreed settlement may result in financial losses or even rejection.
Are you aware of what needs to be fixed in your home?
Those within the real estate industry deal with clients every day and are oftentimes aware of what is worth making the investment of fixing and what’s not. This may differ not even from market to market, but from client to client.
Do you know if you or your buyer will be choosing title insurance?
Title insurance protects both the buyer and seller from disputes involving items such as previous owners, zoning, liens, and so on. Who chooses the title company (the buyer or the seller) is actually dependent upon your location. Make sure you know who is making this decision prior to a signed contract so that you can ensure a smooth closing.
At Title Junction, we care about helping you stay informed throughout your real estate transaction. The experts at our title company have extensive knowledge about real estate not only in Cape Coral and Fort Myers, but all of Florida as well.
Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Can Creditors Revise Loan Estimates?