Before you decide to use a “For Sale By Owner” (commonly known as FSBO) for listing your house, it is important to understand how the costs of this method of listing a home can cut deeply into your time and money. We will cover in this article what you should know about using a FSBO listing to sell your house in Louisville
Commissions
While many homeowners decide to undertake this difficult task on their own believing they will save thousands on commissions, more often than not they learn too late that this is not the case.
When you list your home, it is likely that you will still be working with a real estate agent representing a buyer. This means you will still be paying commissions on the buyers side. This is important to understand when using an FSBO listing to sell your house in Louisville so you can evaluate what your total costs will be.
Costly
Setting the right price can mean the difference between a quick sale and your home lingering on the market. If you want to be certain you are on point, you should hire a professional appraiser who will compare your property to other recent home sales nearby. You may also wish to enlist the services of a real estate attorney to draft your contract. Advertising in today’s real estate marketplace means using professional photography, virtual tours, and staging the home, all of which can be expensive. All of these expenses are important details that you should know about when using an FSBO listing to sell your house in Louisville.
Repairs
Another thing you should know about when using an FSBO listing to sell your house in Louisville is that buyers will almost always order an inspection of the property. If they find something wrong with the property structure, they may require you to fix it out of pocket before the property closes.
Commitments
Are you available to show your house with 24-hour notice, or less? Ready for the phone to ring at all hours, often the calls are from pushy and eager buyers agents. Scheduling showings and making certain your home is always ready for walkthroughs can be extremely stressful and cut into important family time. Making certain you meet any pending deadlines for your transaction can also bring added pressure. The paperwork takes time as well. It is important to be aware of all these time-eating responsibilities that come along when using an FSBO listing to sell your house in Louisville
Lost Deals
Buyers using traditional financing can waste your time by failing to qualify for their loan after going through all of the previous steps in a real estate transaction. This is another problem with using an FSBO listing to sell your house in Louisville. Your buyer could have unexpected life changes or a change in their credit score or debt ratio since being prequalified. One solution is to only work with pre-approved or cash only buyers. Remember, try not to be insulted when working with cash only buyers. They will be expecting to pay less for your home due to the advantages that closing a deal in cash brings.
Using an FSBO listing to sell your house in Louisville can be expensive and time-consuming. How long are you willing to wait? FairSquare House Buyers typically closes within 30 days or less, By selling directly to FairSquare House Buyers, you won’t pay any commissions or other fees. What we offer is what you are paid at closing. FairSquare House Buyers saves you both time and money. We usually purchase homes as-is so you can avoid paying for repairs before closing/ You won’t have to worry about marketing costs or the headaches of showings. We make it easy! Just send us a message or call 502-417-7467 today!