I admire For Sale by Owners. I know what it takes to list, market and sell a homeand I give you credit for taking the inexperienced plunge. With that being said, I have posted the following For Sale by Owner Questionnaire. I am confident that real estate agents can truthfully and confidently answer YES to all the questions but can you, as a for sale by owner, answer YES to all the questions?
FOR SALE BY OWNER QUESTIONNAIRE
If you are a For Sale by Ownerand want to sell your home without the assistance of a real estate agent, you MUST be able to answer an unqualified "YES" to each of the following questions.
PRICE
Do I have sufficient data to price my property realistically?
Am I familiar with what comparable properties have recently sold for and what adjustments to those prices I would need to make for my property?
LEGAL
Can I draw proper contracts and recognize unreasonable contingencies?
Do I understand disclosure and agency relationships?
Would I be on sound legal ground if conflicts arose?
NEGOTIATIONS
Can I handle the natural conflict of interest when working directly with a buyer? Trying to protect my own interests versus my desire to accommodate?
MARKETING
Do I have a complete understanding of real estate marketing and am I able to expose and position my property in front of the widest pool of buyers -- including local, regional and national?
QUALIFIED BUYERS
Can I professionally screen and handle multiple inquiries?
Can I differentiate between lookers and serious buyers?
What kind of documents can I use to screen buyers and where do I get them?
FINANCIAL
Do I have expert knowledge of the current mortgage situation? Assumptions? Buydowns? ARMS? FHA? First time buyer programs? Live Where You Work? Seller's concession? NJHFMA?
INCONVENIENCE
Am I prepared to forego social or business plans for an extended period of time, as I must be available at all times?
SAFETY AND SECURITY OF FAMILY
Am I willing to have members of my household exposed to total strangers?
Do I know what safety measures to take to protect my family from predators? The motives of casual lookers could be suspect!
Unless you answered YES to all the questions above, you need to revise your for sale by owner plan and make the necessary changes so that you can confidently answer YES to all the questions. As you go through these series of questions listed above, keep in mind that licensed real estate agents are skilled and trained in every area and can truthfully and confidently answer YES to every ONE of them.
There are quite a few questions listed in the for sale by owner questionnaire and there are many factors that come along with selling your own home, but please pay particular attention to Safety and Security of Family. You must be very careful and cautious when allowing strangers into your home -- the less cautious you are, the more vulnerable you become.
Selling your own home? Please read my post on setting the price and preparing your marketing plan before you put the for sale by owner sign in the ground.
If you are a For Sale by Owner in Essex County, New Jersey, please remember to send me an email about your house for sale by owner and if your selling, you must be moving.....I would love the opportunity to assist you with finding your next home.
Good Luck For Sale by Owners AND Stay safe!!
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