Selling your home as an FSBO: what else do you need to know?

In the previous article, we discussed that when it comes to selling your home as an FSBO, there are many things to consider. The list includes home equity, marketing, contract, security deposit, and property taxes. In today’s article, I’ll set out other important things about it, like title, inspections, and buyer ratings.

Buyer Ratings: You will need to be sure that the buyer you are dealing with is able to buy the home at its asking price. To determine this, you can request a buyer pre-approval letter from the lending or mortgage company from which the home loan is obtained. You should also know what type of loan the buyer has applied for.

Home inspections: During a specific period, buyers can request a professional home inspection. This is to ensure that the home you are selling is in good condition. You must determine the repairs, fixes, and other improvements that need to be made. Based on the findings, the buyer can request which of the fixes and enhancements they want to implement. And as a seller, you have to agree. At this point, you should also know that the buyer has the right to negotiate, cancel the contract and request their security deposit if their requests are not accepted.

Qualification: Aside from the contract, the title is another important document to prepare when selling your home as an FSBO. It will reflect the transfer of ownership from you to the buyer who will agree to your sale price. To make things easier for you, hiring a title company saves you the time consuming task of preparing the document. In addition, the professionals of the company have all the experience and background necessary to make a real and legal title to your home.

A successful FSBO relies on the homeowner-seller’s ability and knowledge of the important things and processes involved. Having laid out three most important things plus the other five in the previous article, it is somehow estimated that you will be successful in your own FSBO endeavor.

If, on the other hand, you want to be stripped of the associated tasks and want to sell your house faster, you can always seek the help of a local real estate agent. Your experience and professional connections will be vital in finding the right buyer for the home you are selling.