Many homeowners are reluctant to sell their homes on their own, but it is doable. Alabama residents who want to make the foray into for sale by owner (FSBO) territory might benefit from a few real estate tips before making that decision. Selling a home privately will keep a sizable amount of change in an individual's pocket.
In essence those who are thinking about selling their own home can do pretty much everything a real estate agent can do, such as advertise the home for sale; market the home with ads in local newspapers, fliers and on social media; show the home as well as hold open houses. A realtor will also do a market analysis to come up with a list price that is comparable to similar homes that have recently sold. That is something a homeowner can also do. However, when it comes time to draw up an offer to purchase, an attorney can be of great assistance with the legal dynamics.
A flat fee could also be paid to have the home listed on MLS and with the agreement to pay a selling commission to a realtor who shows the home and comes in with an acceptable offer. There is no one who knows a home's selling points better than the owner of the home. A person who lives in the home can use the positives of the place to market it wisely and effectively. Also, by obtaining a standard real estate contract, an individual can also negotiate the sale of his or her home -- though that's best done with the assistance of a real estate attorney.
Even though Alabama residents who decide to sell privately may do all the leg work to get to the offer stage, when it comes time for the writing of an offer and for closing, relying upon seasoned legal help is a wise move. A real estate attorney knows all the legalities of contractual agreements. He or she could ensure everything is legally up to speed in any contract whether his client is the seller or the purchaser.
Source: moneycrashers.com, "How to Sell Your House by Owner -- Without a Realtor", Jason Steele, Accessed on Feb. 2, 2018