Yes!
There are plenty of risks if you get involved in a For Sale By Owner in Las Cruces, and this applies to both the seller and the buyer.
Selling a home without a licensed Las Cruces Realtor is a lot more challenging than most owners think. One of the most valuable roles that your Realtor plays is negotiating issues on your behalf without letting emotions get in the way. Our experience in the Las Cruces real estate market tells us that most sellers are just as emotional as the buyers.
And buying a FSBO home in Las Cruces is not easy either. Buying a FSBO home is also a complex transaction, involving many events and services that need to be coordinated, and involve an element of risk. Put these two unrepresented parties together and you have a recipe for disaster.
For sellers, before you put your Las Cruces home up for sale, the first thing that needs to be done is to make sure there are no liens on the property that would preclude you from selling your home, or at minimum, affect the bottom line. As a seller you must then obtain all of the state required documentation and disclosures and fill them out truthfully and properly, as these disclosures must be given to the buyer.
Misrepresenting your home's size, condition or amenities even by accident can result in a lawsuit, and just about always ends up as a lost sale. Any marketing materials must be clear and accurate. Unfortunately, we live in a litigious society where people sue for just about anything they can think of.
Something else to think about is the experience that a Realtor can bring to the table. Realtors have to pass a test in order to become licensed. When you look for a Realtor, you want someone who knows all the ins and outs of a transaction, and can help through the rough spots. When you sell your home by yourself, you are actually hiring the most inexperienced person to represent you. Even if you have bought and sold several homes before, the laws change and continue to do so. What was acceptable even five years ago is not appropriate now.
And what about that interested buyer that pulls up to your home in the nice new Escalade? They look qualified, but are they? Buyers may come to you with a pre-qualification letter, but as Realtors we know that it is the pre-approval letter that matters. Most anyone can get a pre-qualification letter. Generally, no assets are even checked before those letters are issued. That is just one example of how experience will help.
Some buyers look ONLY for FSBO's, thinking that they can take advantage of an uneducated seller. The offer that you receive on your home has to have all of the necessary elements included or it is not a valid offer. All contingencies must be spelled out and have due dates- that even includes inspections.
The bottom line is that experience is the most important thing you need if you are buying or selling a home in Las Cruces. Even if you are thinking of selling or buying by yourself, you should at least interview one good Realtor who can make the case as to why they can help.
Have you ever tried to sale your home yourself? Share your stories with our readers by leaving a comment.
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