List Categories | List All Articles | List Articles By Title
Selling Your Home on Your Own - Examples of Problems and Solutions
What can go wrong? About a gazillion things, but this is true if you're working with a broker, too. A broker is probably more experienced than you, and may well have confronted and solved your problem on a previous home sale. If you can stay calm and think under stressful conditions, you can be your own problem solver without the need for a broker. Plus, there is no guarantee the broker will get it right.
A longer list of possible problems from real life are for a later article. I will include a couple here just to help you size up your willingness to cope on your own.
You have a contract with a buyer, but the buyer gets cold feet.
Be calm, matter of fact, and pleasant. Encourage your buyer to open up and tell you what's in the way. "I don't want you to buy our home if it's not right for you, but you seemed to really like the house (condo/townhouse/whatever), and now you're not sure you should go forward. What's changed? What's troubling you?"
If they level with you, you have a shot at helping them overcome their objections and solve their issues. You may even find they've misunderstood something. If so, correct information may be all that's needed.
However, if this approach doesn't work, and the buyer no longer wants to buy, let them go and move on. As long as the buyer wants to buy and the seller wants to sell, most problems can be sorted through. If one of them changes his mind, it's over. (You can probably sue for "specific performance" under the contract, but do you really want your property off the market while you deal with that?)
Your buyer has made an inspection by a home inspection firm a contingency of the contract. The home inspector comes up with a laundry list of items to be repaired or replaced. Your buyer requests that they all be done prior to settlement.
Don't let your ego get in the way. It's not personal. It's real estate, and big bucks are involved. Take a deep breath. Go over the 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 a ballpark idea. If the result looks reasonable, get closer estimates and agree to have the work done.
If it's too expensive, explain to the buyer that the price of the home takes into account the condition. If the repairs are too expensive, can you and the buyer agree to "split the difference?" That is, can you do some items on the list and not do others because (you will explain to your buyer) the home was priced accordingly, but you are willing to compromise if he is.
If the repairs are too time consuming (the trades can't take care of it before scheduled settlement), you are going to have to give it some thought. Can you agree to provide a sum of money to the buyer at settlement with which he can have the repairs made?
The key to coming up with solutions to the particular problem is to stay calm and thoughtful. The buyer is not your enemy. With any luck you can work out a win/win solution.
Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
Should Sellers Order a Pre-sale Home Inspection?
One of the main reasons home sale transactions fall apart is inspections. This happens when something unanticipated is discovered during the buyers' inspections of the property, and the buyers and sellers can't agree on a remedy.
Evil Gains Entry
When we open our doors to strangers, we can never be certain what malice an outsider might bring in. Police officers tell us to keep our doors locked with good reason.
Why Move to the Poconos?
Awaken to the sounds of softly rustling trees and tranquil gurgling streams. Stroll along quiet lush wooded mountain trails.
18 Easy Steps to Buy a Bargain House
What is a "distressed" property? What is "bargain" real estate?A distressed property is one with a distressed seller. Job loss or transfer, divorce, death, pending foreclosure, and lack of money cause sellers to sell fast for less.
Estate planning can enable you to control your property while you are alive, take care of you and your loved ones if you become disabled, and give what you have to whom you want, the way you want, and when you want, and if you wish, you can save every last tax dollar, professional fee, and court cost possible.Estate planners frequently begin the estate planning process by analyzing clients' personal and financial dreams, aspirations, fears and objectives.
Writing on the Wall - Are REITs a Better Investment for You?
When I was a young child I had many annoying tendencies. My mother explained to me that the most annoying was my need to write on the walls of every room.
10 Easy but Essential Steps for Home Selling Success
They say that the whole process of selling up, buying new and moving on is one of the most stressful series of events any of us goes through in a lifetime: and yet with careful planning, attention to detail and a clear focus, the whole process can be relatively stress free.While there will always be factors outside the control of any home seller, those factors that fall within their control sphere can proceed fluidly and smoothly when they take the time to plan and think one step ahead.
Selling Your Home on Your Own - Examples of Problems and Solutions
What can go wrong? About a gazillion things, but this is true if you're working with a broker, too. A broker is probably more experienced than you, and may well have confronted and solved your problem on a previous home sale.
Real Estate Marketing, Do You Use Direct Mail?
Prospecting for leads is by far the most difficult part of being a Realtor or small business professional. In fact, lead development is by far the most expensive and time consuming aspect of your job.
Dealing With Dual Real Estate Agents
Historically, real estate agents have represented the seller of a property. The seller, after all, is usually the one who pays their commission, and agents therefore have a fiduciary relationship with the seller.
Real Estate Investing: Infomercial and Mentoring Scams
Flipping through late-night infomercials recently, I saw two real estate get-rich quick schemes, and I couldn't help but wonder why people still fall for those old scams? Has anyone really talked a seller out of his home for no money down with owner financing lately?Real estate infomercials do great harm to beginning investors, who waste hundreds of dollars on old information. Worse yet, those beginners soon get discouraged and miss out on the true (and profitable) adventure of real estate investing.
How to Choose Your Real Estate Lender
Because you need quick action when applying for a real estate purchase loan, find a lender you can access easily. A lender's quick response signifies good service to follow.
Conditions Are Right For Buying The Higher Priced Home You'Ve Always Wanted
Higher interest rates and home prices in the past have kept home owners from purchasing larger homes. The current real estate market conditions, however, are encouraging for many home owners who want to "buy up" to higher priced homes with more to offer.
Investing in Real Estate Like a Stock
A REAL ESTATE STOCK PLANGetting out of the bleachers and into the game!This report is going to explain or attempt to give the stock market investors a basic one-on-one interview with a real estate portfolio manager who has consistently made a profit on 100% of the investment products that were actively chosen and managed. Never a loss, always tax advantaged and sheltered.
Before Selling Your Home
Here are some important steps you should take before you put your house on the market:1. Home Loan Approval for your next HomeYou don't want to be signing a contract to sell your house before knowing if you are qualified to buy another.
Thinking About Selling Your Home?
Owning a home is the original American dream. It's the old frontier spirit, wanting to claim your own tuft of the New World.
Real Estate Value: Knowing yours is Key to Mortgage Success
The value of the real estate you own, whether it is your personal residence or an investment property, is critical to your mortgage and financial success. If the balance on your mortgage is close to or higher than the value of your property, your real estate is not the financial machine it should be.
The Pros and Cons Of Hiring A Real Estate Lawyer
You're travelling in a foreign country and you get arrested for something that you didn't even know was against the law. The potential fine is huge, more than you earn in 10 years.
Real Estate Investing in Rentals - the $10 Million Real Estate Investing Mistake
Renting to tenants is no longer "where the money is" for real estate investing. I became a multi-millionaire landlord in the 1980s by buying $10 million in rental houses.
First impressions do make a difference when selling your home. Oftentimes, before making the phone call to schedule an appointment, a homebuyer will drive by your home to determine if they may be further interested.
home | site map
All articles are copyright to their owners.
Note: this website lists articles, We do not Write Articles !