house for top dollar, your house needs to be in excellent, move-in-ready condition. When buyers view your property, they will always be mentally assessing what they will need to change or update—and how much it’s going to cost them to do it. If they choose to put in an offer, they take these changes into consideration, which may lower the purchase price they are willing to propose. Properties that are in move-in-ready condition generally sell faster and for a higher price than properties that have not made any renovations or changes. In today’s market, a FOR SALE sign is simply not enough to sell your house. If your house needs more than just paint, carpet, or yard work, you may need to consider selling it as a fixer-upper or adjusting the price to include the cost of any more involved renovations needed. Remember: this can limit your potential buyers, but if you invest in those minor cosmetic changes, you will definitely see a faster selling time and a higher purchase price. THE BOTTOM LINE Selling a house without a real estate agent can save you thousands of dollars in sales fees; that much is true. However, the savings might not be as dramatic as you would expect. The fee charged by an agent usually covers many of the costs associated with selling a house, rolling those other fees into the agent’s commission. Furthermore, the time involved in selling a house is transferred to the FSBO seller, and if that person is working, that can translate tomore money lost in time taken off work. A meaningful amount of time and money are involved in selling a home, even when you sell it FSBO. Other costs involved in selling a house without a real estate agent include: Determining the Sales Price of the Property The seller can do this by comparing recent sales prices of similar properties in the area and adjusting their price to match those, hoping to hit the market sweet spot, or they can employ the services of a professional appraiser (which usually cost $350 and up).
21
Powered by FlippingBook