Millions of people around the world have in the recent past adopted the DIY method when selling their homes. Why is this case? The major advantage that accrues to you as a result of selling your own house is that you save a lot on commissions that you would have otherwise paid to a real estate agent. Therefore people choose the DIY method in selling their homes because of the savings that come with arrangement. Of course, if today you want to sell a house privately, that would be the best option. This is because you will save more money for travel and even any necessary home improvements.
Of course, selling a house is not as easy as it might sound here. Money is required in most instances. Even when you want to sell a house privately, you will have to give up most of your spare time to advertisements, lots of paperwork and even open homes. You will also have to deal with noisy neighbors and the emotional burden that comes with having to give up your house and sell it to another party. However, if you can effectively manage your expectations and reduce the stress load in such deals, you will get to realize that to sell a house privately would be the most ideal choice for you;
Here are some tips that will help you in selling your house privately;
Work out the value of your home first
When you are selling your house and you want a really fast sale, it is important to have some realistic expectations about the value of the house. Perhaps it might be a good idea to hire an expert property valuer to give you an accurate assessment of what the current market value of your property really is. There are some websites on the internet which also offer property valuation related services.
Another option in this case would be to visit open homes. These are basically similar homes or properties in your locality. Try to find out how much they are valued at so you can decide on the amount that you will sell yours at. This is a vital step for you to make.
You need to set aside a favorable budget for advertisements. Advertisement includes a lot of ingredients. Therefore, whether you are doing online or offline marketing, any decisions you make have to be guided by a realistic budget. A budget helps to give you a sense of direction. Advertisement can include signs, photography and many other forms of paid advertisements.
You might have to hire a professional to take some photos of your house for you. You can then go ahead to post the photos on your online ads or pin the in notice boards in town. The photo will communicate to many people about the nature of your house. Advertising on the internet requires the use of graphical elements and thus your photos would be essential in such a case.
You can set aside open homes during weekends. You can include details of these open homes in your online advertisements. Open homes normally need cleaning and de-cluttering. This is something that you will have to do before you can hand over the house to the other owner. Of course, it is vital to present each aspect about your house impressively as possible.
Negotiation of an offer
This is perhaps the hardest part for you when you want to sell a house privately. Many people do not understand how they can initiate the negotiation process let alone the real negotiation part. The home is perhaps the most valuable asset that you have and thus you would more of treat the whole purchase process personally. However, if you want to be successful in such transactions, you have to learn to emotionally disconnect yourself from the property when making the negotiation. Just treat the whole thing as business and everything will flow smoothly.
When you come across an interested buyer, you can ask them if they would like to place an offer. When you get the offer, you should treat it well and consult a property expert or lawyer just in case there are some issues that you want clarified. The main issue here is to make sure that you get to sell a house privately without any much hassle. If you can learn to control your emotional connection with the property, you will definitely make the right purchase.
The real sale
Once you have all agreed on the terms of purchase and all details have been put down to paper, the next thing would be the actual sale. This is the summit of you being able to sell a house privately. All purchase agreements have to be clearly understood by all parties and copies served to lawyers and any other stakeholders in the arrangement.
Of course, paper work such as title transfers would have to be taken care of. Make sure that such tasks are handled by a qualified conveyancer. These are all important parts of the sale agreement. Selling your house does not just involve you and the buyer but many other people play a part in the process. You need to call on the services of lawyers and property valuers. Much as the input of a real estate agent is a vital part most of the time, you can still sell your house privately with no much hassle.
These are the guidelines that will help you to sell a house privately. However, if you cannot handle most of the tasks outlined here, it might be a good idea to call on the services of a qualified real estate agent. This piece simply serves to help you understand how you can save money by selling a home by your own without having to involve an agent.
Contributor Profile: Michael Atwell,the Director at For Sale For Lease Pty Ltd, wrote this article and has given the author, who published this article, the permission to post on MoneyNewsNow.com. Michael is the owner of For Sale For Lease – Sell My House online real estate agency.