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Anybody sold their house themselves?

Discussion in 'The Lounge' started by AJMBLAZER, Mar 23, 2007.


    AJMBLAZER Better to be lucky than good. Premium Member

    May 18, 2000
    Likes Received:
    Paducah, KY
    My wife and I are starting the process of selling our house and would like to sell it ourselves and not have to pay a realtor...especially after the screwing we got when we bought the place.

    Anybody done this and have advice or recommendations of where to go, who to use?

    What did you do?

  2. Fubeca

    Fubeca 1/2 ton status

    Dec 18, 2002
    Likes Received:
    Denver Area
    My BIL did it. He just found someone who was looking and got lucky.

    If I were you I'd look into one of those sites that allow you to list in the local MLS for a fixed fee (usually around $500).

    You will also likely have a problem with the local realtors. You may need to work up some type of written agreement that says you will pay a buyers commision (probably 3%) otherwise none of the local realtors will show your house.

    You will also want to get an attorney lined up who can do the paperwork - again you should be able to find someone who can do it for a fixed fee if there are no issues.

    If you have the time and the drive (and the luck), you can come out ahead - but you may find that you've wasted your time and can't sell the house.

    Another thing - a lot of buyers expect to keep a portion of whatever you are saving - so if you could sell your house at $200,000 with a realtor - most buyers would not pay more than $194,000 for a FSBO because they assume you are saving $12,000 by not using a realtor.
  3. TexasBlazerBoy

    TexasBlazerBoy 1/2 ton status

    Oct 10, 2005
    Likes Received:
    North Texas
    My wife and I baught our home w/o a realtor. The people we baught it from did not want to use one. It went well, my banker lady which was very hot helped out quiet a bit.

    Hope this helps:D
  4. bigjbear

    bigjbear 1 ton status Staff Member Moderator

    Feb 18, 2000
    Likes Received:
    Marietta GA
    I just put the word out to the locals when I sold my first house. Of course it was 1/2 between a mil base & the beach= easy sale.
  5. gjk5

    gjk5 3/4 ton status

    Mar 17, 2004
    Likes Received:
    Grand Junction, CO

    Well put.

    In most markets a buyer expects to be getting a smoking bargain in a FSBO, and at the very least expects to get it for 6% less than market, since you didn't pay a realtor and all.

    You may want to consider talking to a realtor and seeing if you can do a listing contract that allows you to sell it to a unrepresented individual without paying a commission or if they find a buyer (usually at a slightly higher price, ohhh, let's say.....6% more?) they get the commission.

    As in anything, talk to several realtors and get a CMA (market analysis of the value) and see what they'll take. With the market slowing in some areas they will very often take 4 or 5%.

    You can look at some statistics for your area too, I know that here FSBO's sell slower and at lower prices than properties that are marketed by realtors.

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