Seek Proper Real Estate Advice When
Selling For Sale By Owner FSBO.
Read On For Details.

Continued from previous page titled Real Estate Agent Tricks

35. Seek real estate advice and help from the right people

Although you are planning on selling your house yourself fsbo, you shouldn’t try and do everything on your own. I guess you already understand this, which is why you are reading this fsbo website.

Selling your home alone can be disheartening and in many ways scary. You have to shoulder the responsibility all by yourself. The key therefore, is to find the “right” people who can help you through the sale and closing process. Seek proper real estate advice and legal advice when entering into any real estate transaction. Accept that you can’t do all the things necessary to close the transaction yourself. There is a lot at stake, so it is important to seek help and real estate advice, in order to get things right. Don't just rely on the tips and ideas on this fsbo website.

36. You need to be the team leader

Regardless of who else helps or provides real estate advice, YOU will always be the most important member of the team. You are the person who has to market your home fsbo, find a buyer, negotiate the contract and coordinate the whole process from start to firish. So, you need proper legal and real estate advice.

37. Seek free real estate advice too

Networking is tremendously fruitful if done correctly. Some people are time wasters so it is important to select the “right” people to give you real estate advice.

Remember that there needs to be a reasonable amount of give and take on both sides. If you continually pick someone else’s brains without returning the favour in some way, you will run the risk that the other person, will lose interest in helping you. A good networker has two ears and one mouth and uses them proportionately. Listen and ask questions.

38. Consult with a mortgage specialist for real estate advice

If you have a mortgage then it pays to consult with the person (or company) that loaned you the money. This could be a mortgage broker, a banker, a lender or for the purposes of this we’ll call them a mortgage specialist. If they can’t help you, or if you don’t want them to help you, then you might need to look for someone else who can.
You need someone who is knowledgeable and truly professional. Friends or associates may be able to recommend someone who fits the bill. A mortgage specialist will have the knowledge to help you complete the transaction smoothly. A mortgage specialist won't be able to provide all the legal and real estate advice you are likely to need, so seek out other professionals to consult.

39. Pre-qualify your buyers

Don’t waste valuable marketing time on a buyer who can’t get a loan. Pre-qualifying interested buyer’s is essential and it is something your banker or mortgage specialist should be able to help you with.

For example each time I have sold a business, I’ve always asked for a letter from the potential buyers banker, before releasing commercially sensitive information I would always ask for an assurance that the buyer has access to sufficient funds to purchase the business. I would always say to the buyer, “I want proof that you have the ability to buy my business.”

Selling a property is somewhat similar. It is impelative that you pre-qualify an interested buyer. It would be stupid to let someone who is not able to get a loan, tie up your house sale up with a contract that is never going to be finalized. That would be a waste of everyone’s time and could potentially lose you a genuine sale by a genuine buyer.

A mortgage specialist could give you guidance as to whether a buyer can afford to buy your house. They will be able to tell you if the buyer would qualify for a mortgage and if it is worth proceeding further with the transaction. This could be good real estate advice they give you.

40. Prepare financial breakdowns in advance

Your lender or mortgage specialist can help you with this too. It is important to be able to show potential buyers what it would cost to buy your property and what their monthly payments are likely to be. Financial and cost breakdowns are important, because they should give your buyer the necessary assurance to write a contract.
Buyers often use “a lack of financial information” as an excuse for not writing a contract. Buyers are generally unprepared - so do your homework in advance.

Read on for real estate advice and useful tips and ideas on how to sell a house fsbo.