Owning a family house is one of the major investments you can make for yourself. At some point, you may decide to sell the house due to a number of reasons, such as offsetting a debt. To do this, you will require the professional services of a realtor whom you will have to pay a certain fee. So, what can you do if you don’t want to pay the fee? Sell the home by yourself, a process that has come to be known as “Private Sale”. To help you do it right, here are essential tips on how to sell your house without a realtor.
1. Determine the right selling price
What price are you willing to let off the house? To arrive at the answer, then you will need to do thorough research on real estate properties within your location and the current market situation. Afterwards, you can proceed to do an evaluation based on the following factors such as the design of the house, proximity, size, and general infrastructure among others. If you want to sell it fast, then you can lower the price a little bit but not to a point that you end up making a loss. On the other hand, if you want to sell on the higher end, then make sure that you price the house based on the extra amenities available in and around it.
2. Use social media and real estate sites
Social media has become a very important tool when it comes to business and marketing. Make a nice post about the house and post on your social media handles alongside clear photos and videos. Also, ask your friends to share with their circle of online friends to give you a wider audience. In addition, you can also make use of online real estate selling sites. Write a nice description of your house and tag along with the photos, videos and contact details. The essential thing is to be consistent.
3. Get in touch fast
People seeking for properties tend to inquire lots of properties at a go. So, ensure that once a prospective buyer hits you up, you respond swiftly. This will make him or her be willing to check out the property soon enough and you can strike a deal. If you are slow then you might miss out.
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4. Ready yourself with the negotiating terms
Remember, since you are not using the services of a realtor, you will be the one to handle the negotiations. Once you have a prospective buyer, go straight into negotiating the sale. Ensure that you come prepared with your selling terms because the buyer to will come with his or hers. It will be a back and forth scenario, but the important thing is that the end result is a win-win for both parties. You can have a lawyer oversee the negotiation just to ensure that both parties are keeping their end of the bargain.
5. Seek the advice of a home inspector or appraiser
Selling a house by yourself will be a daunting task for sure, and you will at least need an expert to guide you through. A home inspector or an appraiser will be the perfect people to talk to as they will give you professional guidance. They will not be at the negotiating table, but rather walk with you through the sale. The benefit of this is to help you manage your expectations and help identify any underlying issue.
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