Thing of Selling For Sale by Owner in Minnesota Statistics show that between 1-8% of homeowners in Minnesota try to sell their home for sale by owner. There are many reasons why a homeowner might go down the FSBO-Mn path.
Over the past five years, many homeowners tried to sell their home as a Minnesota FSBO because they were upside down they could not afford to bring the money to closing if they paid a real estate commission.
The next biggest group of people selling For Sale by Owner in Minnesota are people selling to someone they know or a relative. Unfortunately, this also is one of the problem area that respondents said. It seems that when you sell to someone you know, they try to change the terms as the FSBO transaction progresses. It would be unfortunate to end up at war with one of your relatives so make sure to get things in writing at the beginning of the transaction to limit the chance of problems.
All in all, I would tell people to do as much research as possible if you are going to go down this path. Several sites allow you to get a accurate value for your home when selling for sale by owner but I still believe that the best way too know what your home is worth is by having a real live agent come to your home.
If you are looking to buy or sell in Minnesota, please call or email me.
Joe Niece
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