There may be benefits associated with homes for sale by owner; just having that sign in the front yard straight away means that as the seller you have total control over the selling of your home. It would be healthy to actually know some of the tangible benefits of an FSBO home sale as well as how you want to go through with it. The truth of the matter, however, is the fact that no matter where you are, the entire task can seem somewhat daunting and complicated. Adding to the complications is the fact that, not only are there all kinds of legal forms required, but that requirements may vary from state to state. Following are some of the potential benefits of forsalebyowner:
The FSBO Kit: Despite the potential complexities, there are many companies which offer what could be called an FSBO kit. Depending upon the company, this kit will provide the homeowner with the FSBO legal forms, and hopefully some guidance on preparation and filing of the ‘for sale by owner’ documents. However, be advised that an FSBO kit may range from simply the basic or most common forms needed with some instructions on how to fill them out and where to file them, to very complete FSBO kits which include ALL the legal forms needed.
Public Acceptance of the FSBO Process: A few years ago, most buyers would have been wary of a home with an FSBO sign in the front yard. However, since more and more home owners have opted in for homes sale by owner, not only are many more people actually looking for those signs, but an entire support industry seems to have sprung up to assist the homeowner who has decided to try the ‘forsalebyowner’ route.
Desire for Control of the home sale process: Many people just want to have some control over the process and not feel that they are a pawn in the hands of the real estate agent. Additionally, some people want to be involved in showing the house, explaining its values and even such simple things as ‘how nice the next door neighbor is’ to prospective mansions for sale buyers. Some people feel that this more personal approach may do more to sell the house than a realtor's remark about how the owner mentioned that it was a nice neighborhood to live in.
Save real estate commissions and fees: Saving on real estate agent commission and fees may not be the main reason that ALL people choose to go with an FSBO home sale, but it is certainly a primary factor for a large percentage of home sellers. On the other hand, there are many of us who simply believe that we don't mind paying if we know what we are paying for. When that realtor walks off with a large commission, we often wonder what he or she did to earn it. For most, the FSBO home sale will be a rewarding experience if done properly; do your homework and get your hands on the best FSBO kit you can find.