With a robust real estate market, selling a house isn’t particularly difficult. Here’s a primer on how to sell your own house.
How To Sell Your Own House
First and foremost, you need to educate yourself on how real estate transactions happen. There are online guides and plenty of books on the subject at your local bookstore. When you decided to sell your own house, you are considered a FSBO seller (for sale by owner). The FSBO market is growing like mad.
1. Determine the price of comparable homes in your neighbourhood. This is going to give you a very good idea of what you can ask for your house when you put it on the market.
2. Objectively look at your home and make a list of things that need to be fixed. Selling a house often comes down to the details. Buyers are making a big investment, so they are going to be very picky about little things.
3. List your house online with photographs.
4. Post flyers or advertisements in your local press.
5. Put a sign on your property indicating you are selling.
6. Hold open houses for buyers to view your house.
7. Clean your house before all open houses. Add fragrant flowers to rooms, cut the palm tree if you have one and so on.
8. Get rid of any rubbish you have been hoarding. This includes cleaning out the garage and underbuilds. Everything should be pristine.
9. Create a documented record of all the improvements you’ve made to the home to show potential buyers.
10. Become conversant in the offer, counteroffer process.
11. Develop a clear understanding of what happens during closing the sale and make sure you’ll be able to take care of your part.
12. Figure out what you plan to do when you sell the house, to wit, are you going to buy another house and when will you move ?
While these guidelines will take you a long way, it is important you understand the specific sale of real estate laws. Once you have those down, the process typically goes fairly smoothly. Considering you’ll save thousands or tens of thousands of euros in real estate commissions, any bumps in the road will be more than worth it.