One tends to hesitate when trying anything for the first time. In the case of selling a home by owner, overcoming this hesitation can save you a bundle of money.
Overcoming Hesitation as a FSBO Seller
If I asked you to go skydiving with me, you might be incredibly enthusiastic or look at me like I was insane. Skydiving is, of course, an extreme activity to say the least. Even if it were something you always wanted to do, you would certainly experience a bit of stress and hesitation when getting ready to leap out the door. What if the parachute doesn't open? What if you freeze up? What if you get struck by lightning!? Whether rational or not, these and other thoughts will go through your mind.
When it comes to selling a property by owner the first time, many people tend to hesitate as well. Selling a home by owner is hardly an extreme sport. In fact, thirty percent of homeowners tend to do so when it is time to move their property. Still, the thought of doing it can bring on stress. What if I sell to low? What if nobody comes to look at the home? What if I get the contract wrong? What if I get sued? The questions can pile up, but you should not make a mountain out of dramatic possibilities.
The simple fact is tons of people sell their home on their own every day. With the Internet evolution, you can find practically any information you need online. Worried about selling too low? Run a home property value report online to see what your property is worth. Worried about the contract? Nearly every residential real estate transaction now uses preprinted forms or you can retain a real estate attorney for a lot less than a realtor commission.
Ultimately, there is one definitive way to avoid hesitation ? calculate your savings. A real estate agent charges a 6 percent commission. If you have a $300,000 home, that is $18,000. If you have a $500,000 home, that equates to $30,000. How many mortgage payments did you have to make to build your equity in the property to the amount being charged by the real estate agent? Two years? Five years? Put in simple terms, the agent commission is a lot of money to leave on the table.
So much for hesitation!
Raynor James is with the site - FSBO America - FSBO homes for sale by owner.
