Do you ever think about selling your house yourself, instead of hiring a real estate agent? If so, you’re not alone — especially these days. Reports across the nation indicate that in some of the hotter markets, more homeowners are planting “for sale by owner” signs in their front yards.
The biggest reason is the savings on real estate commissions, say Bill Carey and wife Chantal Howell Carey, co-authors of “How to Sell Your Home Without a Broker.” The standard commission is 6 percent to 7 percent to the brokers — which on a $200,000 home adds up to $12,000 to $14,000, says Bill Carey, a former director of the California Association of Realtors who is a real estate consultant with his wife. “That’s a huge percentage of the equity,” he says.
The second big reason is control, the Careys say is that many people like to make their own decisions. “I tell the seller, ‘You’re the best person in the world to sell this house, because you know it inside and out,'” he says.
While there are many ways to go the FSBO route, we asked experts for their best counsel on how to proceed once a seller already has a buyer. Here is their advice on the process.
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