Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional. Before you decide to take on this very important and legally complicated process
remember not even most Real Estate Lawyer's recommend selling your own home yourself in today's market. Here are a few of the reasons why:
1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.
2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long... there must be something wrong with the home.
3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor... and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own
they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse--a very common occurrence.
4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home
selling means exposure. You need the maximum exposure possible, to generate the highest price possible.
5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.
6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.
7. The majority of qualified buyers are working with experienced real estate professionals.
8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.
9. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional.
10. Expected savings in broker's fees will also be greatly reduced if you offer a selling commission to entice real estate sales representatives to bring potential buyers.
11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees will be considerably higher.
12. Only real estate sales representatives have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales people. Further, real estate sales representatives are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.
13. You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with.
14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer's to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Real Estate professional can act as a great mediator. Lawyers MUST act only on their client's instructions and are not paid to negotiate.
It's really never too soon to begin planning for a move, and veteran movers have found that a comprehensive timetable and checklist is the best strategy to ensure a smooth relocation. It's also a great way to involve the entire family in the move and to spread some of the responsibilities to each person, including your children You'll feel a sense of accomplishment as items are checked off. Moreover, as the weeks roll by, your checklist will help ensure that nothing has been overlooked or omitted from your planning, and that alone will go a long way toward relieving some of your anxiety.
Eight Weeks Before
Contact your mover to make arrangements for moving day.
Remove items from your attic, basement, storage shed, etc.
Start to use up things you can't move, such as frozen foods and cleaning supplies.
Contact the Chamber of Commerce or visitors and tourism bureaus in your new community for information on your new city.
Six Weeks Before
If you're moving at an employer's request, verify what expenses and responsibilities are theirs and which are yours.
Contact your accountant for information on what moving expenses may be tax-deductible.
Begin to inventory and evaluate your possessions. What can be sold or donated to a charitable organization? What haven't you used within the last year?
Make a list of everyone you need to notify about your move: friends, professionals, creditors, subscriptions, etc.
Obtain a mail subscription to the local paper in your new community to familiarize yourself with local government, community, and social news and activities.
Locate all auto licensing and registration documents.
If some of your goods are to be stored, make the necessary arrangements now. (Your moving consultant should be able to help.)
Contact schools, doctors, dentists, lawyers and accountants and obtain copies of your personal records. Ask for referrals where possible.
Four Weeks Before
Obtain a change-of-address kit from the post office and begin filling out the cards.
Arrange special transport for your pets and plants.
Contact utility and related companies for service disconnect/connect at your old and new addresses. However, remember to keep phone and utilities connected at your current home throughout moving day.
Contact insurance companies (auto, homeowner's or renters, medical, and life) to arrange for coverage in your new home.
If you're packing yourself, purchase packing boxes. Pack items that you won't be needing in the next month.
Plan a garage sale to sell unneeded items or arrange to donate them to charity.
Three Weeks Before
Make travel arrangements and reservations for your moving trip. However, don't make plane reservations for the same day that you're moving out. House closings are often delayed. and other unexpected situations often arise.
Collect important papers (insurance, will, deeds, stock, etc.).
Arrange to close accounts in your local bank and open accounts in your new locale.
Two Weeks Before
Have your car checked and serviced for the trip. Also, make sure that your automobile is prepared (filled with the necessary antifreeze/coolant, for example) for the type of weather conditions you'll be traveling in.
If you're moving out of or into a building with elevators, contact the building management to schedule use of the elevators.
Contact your moving consultant to review and confirm all arrangements for your move.
One Week Before
Settle any outstanding bills with local merchants.
Don't forget to withdraw the contents of your safety deposit box, pick up any dry cleaning, return library books and rented videotapes, etc.
Take pets to the veterinarian for any needed immunizations. Get copies of pets' records.
Drain gas and oil from power equipment (lawn mowers, snow blowers, etc.)
Give away plants not being moved.
Prepare specific directions to your new home for your moving company. (Include your itinerary, emergency numbers, etc.)
Two to Three Days Before
Defrost your freezer and refrigerator. Block doors open so they can't accidentally close on pets or children.
Have your major appliances disconnected and prepared for the move. (Again, your moving consultant can help with arrangements for a third party to provide these services.)
Pack a box of personal items that will be needed immediately at your new home. Have this box loaded last or carry it with you in your car.
Organize and set aside those things that you're taking with you so that they don't get loaded on the van in error.
Contact your moving consultant to confirm arrival time of the moving van, as well as to notify him/her of any last-minute details.
Your van operator and crew arrive at the agreed upon time. Make sure that someone is at home for any enquiries the van operator may have with respect to your shipment.
Record all utility meter readings (gas, electric, water).
Read your bill of lading and inventory carefully before you sign them. Keep these - and all related papers - in a safe location until all charges have been paid and all claims, if any, have been settled.
If you require additional moving information, please do not hestitate to contact me.