I thought I would include the following article as it gives a few points to consider if you are going to try to sell your home yourself:
Selling your home without an agent!
Selling your house without an agent is entirely possible, but can be problematic. Here are things to consider and be absolutely sure you understand before you enter into a contract. Otherwise you could find yourself receiving a letter from an attorney and finding out that you are being sued for not having addressed the law in the sale of your home.
Most errors are due to lack of knowledge not lack of honesty. However, you must be on guard as you most likely won't personally know who is buying your home and what their exact motives are. You might be unaware that their son, cousin or sister is an attorney who may be well aware that for sale by owner situations are often an area ripe for litigation.
Another area of concern is that once a buyer has moved in to the house there may be the element of buyer’s remorse. At that point they have lots of time to notice the things that didn't seem large at the time of the sale but may be a source of irritation now.
Guard yourself by taking a good hard look at these issues and prepare yourself for what lies ahead:
1. Understand the Tax consequences of your sale.
2. Price your house right to get the most you can without killing interest in your house.
3. Create an ad for your house and change it regularly on venues such as Craigslist, Zillow, Realtor.com, etc.
4. Make certain you FULLY understand the requirements of State and Federal Housing Laws and Regulations!.
5. Be prepared with ALL Seller required disclosures that are mandated from State and Federal agencies/laws.
6. Obtain a Purchase Contract form that will be acceptable to a lender and know every provision FULLY in its entirety.
7. Make certain that you know who a prospective buyer is before he or she crosses your threshold!
8. BEWARE of contingent offers!
9. Guard the timeline to close and the restrictions of time that you as a seller have to meet obligations as required of you.
10. Understand that the phrase "as is" doesn't necessarily get you off the hook.
11. No word of mouth comment is legally binding in the sale of real estate in California.
12. Keep all records for at least 3 years!
My goal here was to give you an outline to keep yourself out of trouble should you try to go ahead and sell without an agent but consider this:
It may seem expensive to pay me to handle the sale of your home but remember that my commission is a legitimate tax deduction, and having me handle it for you puts my knowledge and training as a Broker to work as a professional resource for you.
In addition as a Licensed California Broker/Realtor, I am a member of CAR and as such that puts your sale behind the protection of contracts and disclosures created by the California Association of Realtors which I will use in your transaction.
Give me a call: 951-233-2010
5 Reasons Not to Sell Your Home Yourself
You have likely heard someone tell you that you should sell your home on your own so you can keep all the proceeds. While it may seem like a good idea on the surface, it's in fact often a bad idea that can lead to major disappointments down the road. Here are five reasons not to sell your home yourself.
You Will Get Less Respect
When a buyer's agent sees that you're not represented by a seller's agent, one of two things could happen: 1) they will see an opportunity to run circles around you at the negotiation table, or 2) they will steer clear of showing your home altogether to avoid the possibility of a disorganized transaction. You don't want either of these situations to occur.
It's a Full-time Job
Are you able to dedicate full-time hours to selling your home? Will you be able to hold open houses, run background checks, make follow-up calls, send emails and evaluate offers? If not, you will want to hire an agent.
Negotiating a Home Sale Is a Skill
Even if you have sales experience, negotiating the sale of a home is its own specialized skill, and a high-stakes one at that. Real estate agents are trained to think one step ahead and make strategic decisions that will drive the sale price of your home. You are also effectively removing your emotions when you have an experienced agent negotiate on your behalf.
Your Network Is Not the Same as an Agent's
A large personal and professional network does not necessarily equate to a large pool of buyers. An agent, on the other hand, has a network built for selling your home. You will be happy you enlisted a Realtor when you begin to realize that they're communicating with countless other brokers, buyers, agencies and other helpful professionals on a daily basis.
Slogging through the Paperwork
When it comes time to initiate a transaction, the paperwork can bury you. With so many legal documents and disclosures, you are putting yourself at risk for being sued later if you try to take everything on yourself.