WARWICK | Top 5 Reasons You Shouldn’t FSBO
Did you know that you are legally obligated to tell the buyer about problems that could affect your home’s value, such as foundation damage or environmental hazards like a tendency for flooding or any other major problems with your house? ….in addition, if your home was built prior to 1978, federal law requires that you take several steps to protect the homebuyer from exposure to lead-based paint.
Click here to read “Should I pay for a pre-listing inspection”
This is one of the areas where having the right representation to help you sell your home, can give you peace of mind by complying with all the rules and regulations around the home selling process in New York.
A real estate agent can help tremendously in understanding your liability and walking you through the disclosure procedures prior to putting your home on the market.
Today, I would like to address about Top 5 Reasons You Shouldn’t FSBO
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers
Recent studies have shown that 95% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
Where did buyers find the home they actually purchased?
* 49% on the internet
* 31% from a Real Estate Agent
* 7% from a yard sign
* 1% from newspapers
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.
3. There Are Too Many People to Negotiate With
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:
* The buyer who wants the best deal possible
* The buyer’s agent who solely represents the best interest of the buyer
* The buyer’s attorney (in some parts of the country)
* The home inspection companies, which work for the buyer and will almost always find some problems with the house
* The appraiser if there is a question of value
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