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4 Facts to Consider Before Selling a Home in the Triangle “By Owner”

scott chan fdpAll home sellers across Raleigh and the Triangle want to receive top dollar for their homes and sell them as quickly as possible. Only a small percentage of home owners decide to take the adventurous route and attempt to sell a house themselves. Is For Sale by Owner (FSBO) a good idea?

Here are four important facts that Flat Fee Realty believes Triangle home sellers should consider before taking the plunge and putting up that sign:

  • FSBO listings are a significant source of sales leads for agents: Home owners should expect to be contacted regularly with sales pitches. Many agents will provide FSBO’s with free market analyses and sales comps in the hopes that if or when selling by owner becomes tiresome, the seller will be calling them. In the meantime, take advantage of all the free tools and figure out which agents are honest and forthright, and who will work for you.
  • Selling as a FSBO is not free: Most FSBO’s decide to sell using this method to avoid paying a huge commission that can run up to seven percent of the home’s sale price. While that’s definitely an incentive to consider, selling as a FSBO isn’t completely cost-free. Homeowners must pay out of pocket for promotional signage, advertising, flyers, newspaper ads, websites, rack cards, and more. Many FSBO’s opt to offer an incentive or commission as well (usually around 2.5%) to the buyer’s agents to ensure their home gets shown.
  • Listing a home is almost a second job: It’s a big mistake to think that once a “for sale” sign is planted in the front yard, it’s time to sit back and wait for buyers to come knocking on the door. Selling a home requires a significant marketing push, receiving calls at odd hours, answering inquiries, making appointments, showing the home during the day or early evening, and hosting open houses every weekend.
  • The devil is in the details: Chances are that an agent will represent the prospective buyer. Experienced or not, it’s likely that the agent will be aware and ready to negotiate around subtle but key aspects of the sales contract. Consulting with a real estate attorney can keep FSBO’s competitive; but again, expect to pay high legal fees for the service.

Owners will often forego the expertise of a traditional real estate agent in hopes of saving money. There’s nothing wrong with that if a seller is willing to put in the time, effort, patience, and consistency to be successful.

Consider the above information we have presented as a public service and know that Flat Fee Realty truly is the best answer for a cost effective and smooth sale. Consider the enormous advantages of our marketing package.

Give us a call today to find out how Flat Fee Realty can partner with home owners who believe in value for both the move and the successful sale in the Triangle.

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This post on selling a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended as a service for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Contact Us

Terry@FlatFeeNC.com

Photo: Scott Chan, freedigitalphotos.net

 

10 Tips for a Fast And Flawless Flat Fee Real Estate Closing

Flat Fee June 7 PictureConcessions have been negotiated, an offer was accepted, and the closing date is fast approaching. While it may seem like smooth sailing once the home has been inspected and appraised, the time prior to closing can be fraught with potential landmines.

These ten tips from Flat Fee Realty will help Triangle buyers and sellers come to the closing table with confidence:

  • While it is typical in North Carolina for sellers to take most appliances, be sure to leave behind any appliances that were included as part of the sale.
  • Do not remove any items that are permanently attached to the home, such as window blinds, curtain rods, ceiling fans, or light fixtures.
  • Make sure that all agreed-upon repairs or improvements are completed prior to the final walkthrough with the buyers.
  • Many closings are conducted with buyers and sellers present. If either party is travelling long-distance to the closing, confirm travel arrangements and allow adequate time for travel delays.
  • Don’t forget the keys and the garage door openers! Buyers will expect a key to the home, but also remember any other keys and remotes.
  • Buyers should provide their lender with all requested documentationas soon as possible. In these days of due diligence, lenders often double and triple check financial information, so don’t take additional requests personally.
  • Be upfront about any upcoming life changes such as maternity, sick, or family leave. These can raise red flags if left for the lender to discover on their own.
  • Refrain from applying for or opening any new credit cards or loans. Do not excessively use existing credit cards, or co-sign loans for others.
  • Avoid moving money around more than absolutely necessary. Transferring funds between accounts, changing banks, or rolling over a 401K can all lead to last minute delays.
  • If a large financial transaction is unavoidable (such as purchasing a car to get to work), inform the lender in advance so they can properly notate the loan file.

A delay or cancellation of closing is frustrating for everyone involved, but most delays are caused by minute issues that are well within the control of buyers and sellers. Whether you are taking on the sale of a home as a FSBO or are a first time buyer looking for expert guidance, Flat Fee Realty can help. Give us a call to find out how!

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Contact Us

Terry@FlatFeeNC.com

Photo: MarkMoz12 / Foter / Creative Commons Attribution 2.0 Generic (CC BY 2.0)