A How to Guide: For Sale By Owner

The following is a list of things that a FSBO (For Sale By Owner) needs in order to be a SOLD by Owner:

>Property Condition Disclosure- All property must be sold with this disclosure or an "AS IS" disclosure.

>Lead Base Paint Forms- If your house was built prior to 1978 you must disclose the possibility that lead base paint may be in your home. This is the LAW.

>Sales Contract- To protect yourself from potential lawsuits or other disputes it is recommended that you have a contract from an attorney when selling your home or property.

>Signs- A yard sign needs to be visible and clear to the public. Have one made for your house. DO NOT get one from a store and look like everyone else. Someone may think it is for a yard sale.Your sign should catch the attention of potential clients.

>Marketing Plan- Sit down a devise a plan for how to market the property. A yard sign and an ad in the local paper may be a good start, but according to NAR 80% of buyers look on the internet when searching for a home to purchase. You must make the internet a part of your plan. The paper only hits your local market which means that you will only reach 60% of all buyers in any given town. Approximately 40% of all buyers are from out of town. How will you reach them?

>Brochure Box- Get a box for brochures or fliers about the property and put it out front with your sign. Make sure to keep it full so people can get the information about the house when they stop.

>Relationship w/a Lender- It is very important to make sure that the STRANGER walking through your house is actually qualified to buy your house. A good lender will pre-approve potential buyers at no cost. Make sure this is done before you miss a weekend at the lake because you were showing the house to an unqualified buyer.

>Showing Schedule-Arrange for someone to be at the house at all times to answer calls or show the property. A house that is easy to show will sell much faster than one that is not easily accessible.

>Lock Box-Place a lock box on the front or back door for those times that no one will be home. This way a potential client will still be able to access the property. Again, if it is easy to show it will be easier to sell.

>Relationship with a Surveyor-It may be necessary to have the place surveyed when selling your property. Get with a local surveyor to have this done. Make sure to compare costs.

>Relationship with local Health Dept.-Sellers must disclose the number of bedrooms that the septic tank was approved for when installed.(If on septic) The Ground Water Protection office can supply this information to you if you fill out a request form. They will also be the provider of a septic inspection letter if it is required.

>Relationship with a pest control company-Most buyers will request a termite letter to show the property is clear of termite activity as well as damage from termites.

>Relationship with an attorney- When selling property there are many legal issues that occur. It is wise to allow an attorney to handle the closing (actual transfer of property) for you. This will make the sale complete and legal. They will make sure the deeds are valid and the taxes are paid by the right people. They will also record the deeds after the closing as well as make the payoff to any mortgage companies that you may owe money.

>Clean House- If you are selling a car the first thing you would do is clean it and make it look brand new. When selling a house the concept is the same. A clean house shows better and sells better. Buy a video or look on the internet for ideas on fixing up the house to sell. Everything should be in good repair and working as well. If a house does not look like it is in top shape then you should not expect TOP dollar.

>Screening Process- Do you really want to open your door to COMPLETE STRANGERS? If this is a risk you are willing to take at least have a plan in place to screen the people before they look at the house. Your life is more important than the money you will get from selling the house. Do not be tempted by the money. Always screen your buyers before they enter.

*If you find that selling on your own is more than you bargained for please call us. We will take care of these things for you.