For Sale by Owner Checklist

Are you thinking about selling your home on your own? No real estate agents. No middlemen. Just you and the prospective buyer, pure and simple. Right?!… Well…it may not be as simple as it seems.The cost of selling a home on your own may be higher than you think. In addition to codes, contracts, and other concerns that can take you by surprise, there are a number of legalities, liabilities, and loopholes that can trip you up along the way.

I have provided a checklist of 10 simple questions to help you evaluate your readiness to sell your home. If you answer yes to all 10 questions, you may be ready to put a For Sale By Owner sign in your front yard. But if you answer no to even one of the questions, you may be setting yourself up for frustration, disappointment, and a mountain of red tape.

If you have any questions concerning the marketing and selling of your home, give me a call or contact me. I have the knowledge, experience, and solid negotiation skills to ensure that you save time, minimize your stress and to assure you that the cost of selling your home isn’t greater than the profits!

  1. Are you aware of current trends in your market that will enable you to competitively price your home?
  2. Can you approximate net sale proceeds based on loans, balances, and closing costs?
  3. Are you up-to-date on local home selling requirements and disclosures, such as smoke detector and lead base paint laws?
  4. Have you studied the special zoning and deed restrictions for your community?
  5. Do you have the experience to recognize a qualified buyer from an unqualified buyer?
  6. Can you write a sales contract, or afford to have one written for you?
  7. Have you been informed of the legal problems that can arise from an incorrectly written contract?
  8. Do you know how to negotiate earnest money, and under what circumstances it will be forfeited or returned to the buyer?
  9. Are you aware of the 100′s of types of home financing methods and loans available today, and the financing requirements to obtain a mortgage loan?
  10. Have you done your homework on appraisals, “conveyance”, closing documents, and settlement procedures?