Are you thinking about selling your home on your own? It sounds simple, right?  Put a sign in the yard, an ad in the paper, maybe a post on Craigslist, and save thousands of dollars!  Unfortunately, statistics show that it rarely works out like that.  

If you want to sell on your own have you considered all of the following?

Price – make sure to review recently sold comparable properties in your area to determine the actual selling price.  If you set a price that’s not in line with other sales, you may run into trouble with the bank appraiser once you are in contract with a buyer. 

Buyers – make sure buyers who view your home are pre-qualified, for your own protection.  When making the appointment with buyers, ask them to bring a copy of their mortgage pre-approval with them (or better yet, ask if they can fax it to you ahead of time so you don’t waste time with buyers who aren’t qualified to buy your home).  

Marketing – Because you won’t appear in the Multiple Listing System, it is important that you plan a well-thought out marketing campaign to overcome this.  A combination of print and online advertising, as well as targeted mailings and signs should be considered to maximize your exposure.  Have you compiled a list of all the online sites you will advertise your home on?  A recent survey showed that 88% of home buyers started their search online.  Consider the use of QR codes to drive traffic to your website if you create one.  Also consider subscribing to a text-for-information service so that people passing your “For Sale” sign can instantly receive more information on their cell phones.  Brochures left by your “For Sale” sign can be helpful as well.  Make sure they are colorful, and include many professional-looking photos.

Safety – when showing your home, never let anyone in without a prior appointment, for your own safety.  When showing the home by appointment, make sure someone knows you will have a stranger in your home, and that you’ll check in with him or her after the showing.  Store any valuables and prescription medications out of sight.  

Open Houses – when you hold your Open Houses, make sure you ask guests to sign in, so that you can follow up with them afterward.  Don't be surprised if many of the people who come through your open house are you neighbors, just wanting to see what your house looks like!

Offers – Make sure to fully evaluate each offer you receive, and don’t focus solely on price.  Did the buyers include proof of funds, gift letters, or a pre-approval?  Pay attention to any contingencies involved (does the buyer have to sell a house in order to buy yours?), pay attention to what they’re asking for in the purchase (do they want you to leave behind your appliances? Any furniture? Window treatments?), review their terms of financing (are they asking you to pay part of the closing costs?), and note the proposed closing date (do they need to be in sooner, or later, than you’d prefer?).  If you get multiple offers, make sure to analyze all the terms, not just the price, to determine which offer is the most appealing to you.   

Paperwork – be aware of any required paperwork that you must legally provide potential buyers.  These vary by area, so you should consult an attorney that focuses solely on Real Estate to make sure you don't find yourself in violation at any point.  There are some required forms that can cost you money at closing if you don't provide them to the buyer prior to signing a contract.

If this all seems overwhelming, don't worry.  You can change your mind at any point and contact me for help!

Jennifer Maxian

Hunt Real Estate ERA

8780 Sheridan Drive

Williamsville, NY 14221

office - (716) 633-5350

direct - (716)-946-6112

www.jennifermaxian.com

jennifer.maxian@huntrealestate.com