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What do I Need to Sell my House on my Own with no Realtor?

By Edited Oct 26, 2016 0 1

If you are looking at moving, but you don’t want to pay high commission rates, you may be wondering, what do I need to sell my house by myself, with no realtor?  For many, paying a fee of up to 8% could translate to tens of thousands of dollars.  This is a lot of money to put up for the sale of a residence, which may be avoided.  While it may be more convenient to go with a real estate company, since they take care of most of the work for you, it may be wise to save that money and invest it in your next home.  Let’s look at what you need to do to sell your house by yourself, without hiring a realtor and throwing away some of your equity.

Legal Paperwork

If you going to sell your house by yourself without a realtor, you will need to print off some legal papers to help cover yourself from liability.  Title insurance, closing papers, offers to purchase and many other types of legal paperwork will need to be obtained.  Thankfully, you will have some options to help find these forms.  Let’s look at a few places you can search.

FSBO Sites:  Some of the really good ones that are dedicated to home sales will have links to download the legal forms you may need if you are looking at what you need to sell a house by yourself without a realtor.

Real Estate Companies:  Some may be willing to sell you some copies of the forms they use.  This is a good option, even if it does cost a few dollars, since you will be getting legal forms that are used in your state.  Some states may have varying laws and requirements for selling a residence.

Packages:  You will find some services online that could help you out.  Many sites sell packets that can be downloaded and printed off to help you sell your house on your own, with no realtor.  While they generally are not free, they can help take some of the burden off your shoulders and give you some peace of mind in the process.

Home Inspection

You may not have to do this, but it will make selling your house by yourself with no realtor a bit easier.  A qualified home inspector can determine what areas of your home are unsafe, out of date, and to potential problems.  By having a home inspection done you can limit liability on your end should problems arise with the residence after the sale.  Keep in mind that in most cases, you must disclose certain issues you are aware of in your home.  In addition, you should know that in many cases, if you were to be sued for this, the buyer would not have to prove that you actually knew about it, but rather that you simply should have known about it.  This can make the whole process even harder to do on your own when you look at what you need to sell a house by yourself with no realtor. 

Price Analysis

In general, a real estate agent will take a look at your property and assess the value, based on similar homes in the neighborhood that have sold.  This can be tricky.  The assessed value that you show on your property tax paperwork may not be very accurate.  For this reason, it’s important to try to do a reasonable comparison with very similar homes in similar or the same neighborhood.  This can make selling a house on your own with no realtor a bit harder to complete. 

Advertising

While there are certainly some legal issues you must adhere to when you advertise a home for sale, this may be one of the easiest tasks you will face.  Listed are just a few of the places you can advertise your house, when you are looking at what you need to sell your house by yourself without a realtor or real estate company.

FSBO Sites:  There are many home FSBO sites out there online, many of which charge minimal fees.  In fact, some of these sites will actually allow you to list your home online for sale at no charge.  Be sure to choose popular or local sites so you have the best results.  Quality pictures are a must if you are looking at what you need to sell a house on your own with no realtor involved.  It may even be wise to hire a professional to take the photos for you.

For Sale Sites:  Craigslist or eBay, just to name two, are good choices when you are looking to sell real estate.  Both of them are good options if you are looking at how to sell your house by yourself with no realtor.

Newspapers:  These are still a great place to advertise your home for sale.  Many potential home buyers search the papers daily to find the latest listings.  Be sure you get a quality picture of the residence to post in the paper, so it looks more appealing.

Home Warranties

While you don’t need this to sell your house by yourself with no realtor, it can help you to close the deal.  Generally speaking, you will go through a private company.  They will inspect parts of your home, like appliances, and warranty them to the buyer.  This is simply another thing you may want to keep in mind as you look to move.

Open Houses

What do I need to sell my home by myself with no realtor?  Having an open house event could help you unload the residence in a hurry.  To improve your chances of success, you will want to advertise it heavily, so you get more people there.  Consider holding the event on the weekend during extended hours.  Since it seems more people work on the weekends these days, a weekday event may also be beneficial.  This is just one of the many things you should keep in mind as you look to handle this whole process on your own.

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Comments

Jun 15, 2011 1:08am
aguy
I've helped 2 people do this so that I could learn how it was done. I think next time I need to sell a house I'll do it myself.
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