FSBO: A Beginner’s Guide

Beautiful Modern Kitchen Real Estate

If you are looking to sell your home, you may have many questions run through your head. From figuring out how to price the property to hosting an open house, selling your home yourself can be overwhelming. But the key is to take everything step by step and you’ll soon find the perfect buyer. All you have to do is follow this beginner’s guide to understand everything about the for sale by owner (FSBO) process.

Determine the fair market value of your home

This is usually where realtors come into play, as they can help you price your home both fairly and with a competitive advantage. Now the entire duty is on yourself, and you’ll want to price your home right so you walk away with a good amount of cash in your pocket. But how do you do this? There are two ways:

  1. Go online and research real estate in your local area. See what properties with similar qualities and features to yours are going for, and price comparatively. There are plenty of real estate websites out there such as zillow.com and trullia.com that can give you the answers you are looking for.
  2. Get an appraisal. A licensed appraisal will come to your home and give you an accurate estimate of its value, which can serve as a starting point for when you price your home. 

Hire a real estate lawyer

Real estate can be a complex mess of paperwork, and you’ll want to make sure you are doing everything correctly. A good real estate lawyer will ensure your sale is binding, legal, and most importantly, will protect your interests throughout the entire process. While you will be the one selling your home, the real estate lawyer will be the person who can help you with determining offers, work with the escrow down payment, review any and all contracts, and help figure out complicated mortgages. Think of a real estate lawyer as an investment in the home selling process, and you’ll have peace of mind from the start of the sale to the finish. 

Invest in curb appeal

The saying is true; you never get a second chance at a first impression. A lot of homeowners go into a sale knowing that they will spruce up the inside of the home, but that doesn’t mean you shouldn’t make the home look as inviting as possible from the outside. Invest in all new landscaping including trees, shrubs, and flowers, repave your driveway and/or sidewalk, and paint your front door and windows. Add some decorations to the entranceway, and don’t forget the mailbox! The whole idea of this is to make your home look inviting and help the buyer envision they could move in that day. The best part is that all of these simple touches are very easy to do and cost little to nothing at all to complete.

Update all home functions

By home functions, we mean all the different things that work every day for your home to be habitable. This includes updating/maintaining your HVAC system, investing in some residential pest control, install a dehumidifier to get rid of all mold, and ensure all of your electricity is working properly. If you do all of this right before the house goes on the market, you’ll be able to have confidence when prospective buyers ask when these things have last been updated.

Selling your home by yourself doesn’t have to be complicated when you follow these steps. All you need to do is have patience, persevere through, and you’ll find that you can do the work of a realtor in no time at all.