Did you know 6.5 million homes were sold in 2020?

Selling your home by yourself may seem like a great idea at first.

Nothing seems complicated, right? After all, you get to save on the real estate agent’s commission which could be thousands of dollars. All you require is to take a few pictures and post them on an online listing, and buyers will start calling with offers.

Sounds easy, right? You may assume conducting a DIY home sale is this simple, but in reality, it’s not. Here are 5 reasons why the homes for sale by owner approach isn’t a good one.

Time Consuming

If you decide to sell your home by yourself, be ready to sacrifice a lot of time. Staging the property and taking professional pictures to get the marketing right requires time.

Moreover, you’ll be required to spend time showcasing your home and entertaining buyers interested in your home. Some realtors will keep bothering you with unreasonable prices day in day out.

Wasted time is among the top reasons people avoid the homes for sale by the owner approach.

Costs Involved

Conducting a DIY house sale seems like a great way to save money. In reality, it’s not because you often spend a lot of money upfront with no guarantee of returns.

Moreover, there is a likelihood you might end up receiving less money, as you lack proper negotiation skills. The buyer’s agent has the right price negotiation skills, meaning they stand a higher chance of succeeding in the negotiation.

Exposure to Risks

There is a lot of paperwork involved when conducting a home sale, and most of it requires to be completed by an expert. An example of such is the seller’s disclosure.

Here the seller is obliged to inform the buyer of any facts that may materially affect the property’s value. A seller can be held liable for negligence or fraud for failure to disclose such information.

Lack of Market Exposure

Selling a home by yourself becomes complicated when it’s time to have the word out your home is on sale. It’s even worse when the only marketing tactic you have is placing a “for sale by owners sign” in your front yard.

Here, only a few individuals driving through the neighborhood get to spot your sign. Real estate agents offer your home exposure to the market through professional home listings.

To get help in marketing your home on sale, reach out to experienced realtors like those at Searchnwa.com.

Daunting Paperwork

Depending on the state of your home, there are several legal forms required including (but not limited to) property disclosure, occupancy agreement, and a sales contract.

It’s easy to download readymade contracts, but does an untrained seller understand what these documents mean? Some of these readymade contracts may not be ideal for your case.

Learn Why Homes for Sale by Owner Isn’t a Good Idea

Selling your home by yourself is no doubt a more daunting task than it seems. You may be trying to save a few dollars, but in the real sense, you end up wasting a lot of time and exposing yourself to legal risks.

Homes for sale by owner is best carried out by experienced individuals familiar with the home selling process.

For more real estate investment tips, please visit our website today.