Selling House to Relocate to NE

Oct 7th, 2003, 10:27 AM
  #1  
MarkUrtimer
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Selling House to Relocate to NE

This isnt totally related to travel. More to travel required by moving (office says go or start looking for another job) and needing to achieve a quick sale and purchase. Any advice on selling it yourself and avoiding fees? Anybody use For Sale By Owener.com, and is it legitimate and does it produce interest? Any other do it yourself service to sell you know about would help us.
 
Oct 7th, 2003, 10:32 AM
  #2  
GoTravel
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mark, just a suggestion but since it seems like you already have so much on your plate AND need a quick sale, I'd go with a professional.

No, I have no ties with the real estate business.
 
Oct 7th, 2003, 10:34 AM
  #3  
MarkUrtimer
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Yes, that also occurred to us. The fees eat up any equity we managed to gain. My wife is willing to stay behind to sell it, and put up with having to hang around and wait for calls. What we need is a good on-line service to get it listed this week. Anybody ever used one?
 
Oct 7th, 2003, 10:44 AM
  #4  
 
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Most newspapers are online now - good thing that their classified sections are online too. I'd just aim for the newspapers with the best circulations in your area, and also consider having an open house. In your ad state that it's a private sale too. Being that the sale price is usually bumped up 5-7% for the realtor's commission, a potential buyer will think that your asking price is lower as there won't be a commission to pay.
leslie is offline  
Oct 7th, 2003, 11:28 AM
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Isoldmyhouse.com advertises heavily in the Boston area. It won't help you sell your house but it might help you find a new one or give you ideas on how to market yours yourself. From what I understand the biggest problem most FSBOs have is that the homeowner doesn't know how to "close the deal" when someone is interested in their home. A professional realtor can get the job done more efficiently. Of course if you live in a hot market you'll have much better luck.
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Oct 7th, 2003, 11:29 AM
  #6  
cd
 
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Mark
We are in the same boat. I am going to try to sell by owner for awhile...I can always list it. Usually newspapers do not sell homes but as it is your only choice for advertising other than a sign in the yard, you have to go for it. How is the location of your home? In an area where houses are not listed long? Then you have a chance. Call the title company that did the title work when you purchased your home. They will want to do the job again, so will send you a contract that you can use when you find that buyer. They will then do the closing. About $300.00 in our area. Another alternative, There will be places in your area (they are thru out the states) that "Assist to Sell" or "Homesellers.com", etc that will assist you in the selling of your home. This means they are a Broker and will put it into MLS where it does get the most action. Every Realtor then has assess to your home with their buyers. What these Brokers do is charge you around $500.00 - 1000.00 up front, give you a sign for your yard and put your home into MLS which goes on line at Realtor.com
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Oct 7th, 2003, 11:58 AM
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If you are in a hurry, I suggest leaving it to a professional. Most FSBO's (for sale by owner) end up going with a realtor after the hassle of trying to sell on their own. Since you will have to pay the commission of the buyer's realtor anyway, you'll only be saving about 3% or so. Typically FSBO's are on the market much longer than if it were handled by a realtor. You may lose out on that 3% just by having to pay the mortgage for a few extra months. Something to think about.
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Oct 7th, 2003, 12:14 PM
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Austin: What are the chances that a realtor would bring their clients to see my FSBO home? I'm talking strictly FSBO, not through Help U Sell or anything like that. If the buyers don't have a realtor, then there would be no fees, correct?
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Oct 7th, 2003, 12:29 PM
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Hi, I am in the exact same boat. Moving from a depressed real estate market in North Carolina to a ridiculously high one in New England. Husband already up there and I am here waiting to sell house or get job.. whichever comes first. We too will have most equity eaten up by commission as we've only been here 3 years. We thought about FSBO but given the market here decided against it.. we need all the help we can get. And think about this... if your wife is there alone she has to let all sorts of characters in to see the house... not a good idea . I'm not a scardy cat but that made me uncomfortable.. another reason we went with the agent. Oh, and bury a statue of St Joseph in the front yard.. it is supposed to help sell it ( so far no luck for me)
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Oct 7th, 2003, 12:45 PM
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cd
 
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Cassidy
A Realtor would not bring his/her buyers thru unless you agreed to pay 3% on the sale price should their buyers decide to make an offer. If you were a Realtor would you take someone thru a home you would not make money on?

Collette:
Do you have St Joe upside down?
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Oct 7th, 2003, 01:13 PM
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I may be out of line, but if your co. is insisting on this move, won't they help with the relocation? I've heard of cos. buying an employee's home at a slightly reduced price to give you a quick sale. They then sell it & hope to make a profit. Have you asked your co. if they're prepared to help?
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Oct 7th, 2003, 01:38 PM
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My experience with FSBOs as a buyer is that the owner is either trying to hide something wrong with the property, or is too cheap to hire a Realtor. (Yes, I have been bitten by a FSBO, badly!) I would NEVER even look at a FSBO property again.

You know, if you lose money on the sale of a home because you were transferred, isn't it tax deductable?
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Oct 7th, 2003, 01:47 PM
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LN
 
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In certain areas the housing market is sooo hot that prospective buyers are bidding on the homes as soon as they go on the market. It has not been uncommon for a home in N Arlington, McLean, Chevy Chase, and Potomac to sell for 10 to 20 thousand higher than listed. With that in mind and realtors asking 6 or 7 % of the selling price, many homeowners here having been selling their homes themselves. With homes at half a million that sales commission can easily be 30,000. That is the best reason to sell by owner.

You do need a strong sellers market and if your area is not selling well - then you may have to hire a pro and get creative. Is your home in a good market area?

Something else to keep in mind is NOT having your wife show the house - that can be unsafe.
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Oct 7th, 2003, 01:59 PM
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I'm not sure if I'm unique. But I'd hesitate to ever look at a house that is listed by owner. I usually feel that they must want more money than a competent realtor told them they would get. I would feel much more comfortable with a knowledgeable broker to field things rather than just talking with the biased owner. And I would want a realtor to help me with my purchase, so for that realtor to make money, the seller would have to be willing to pay him a commission from the already listed price.

Everyone knows that price is negotiable and few buyers ever go in expecting to pay the full asking price. So why not have a realtor working for you who may be able to get you more money in the long run. I'd personally try to get the "for sale by owner" seller to lower his price more than a realtor might tell me I should pay for that same house. I figure most owners generally believe their house is worth more than a true professional would think it is worth.
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Oct 7th, 2003, 03:49 PM
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Well to be honest with you, I don't think we have any delusions about what our house is worth. We did a comparible market analysis on it and that's what we'd price it at. Where we'd want to go FSBO is to keep the approximately $9000-$10,000 that having realtors involved would take from us and our ability to put down on another home. THAT'S why we'd go FSBO.

Now, I'll admit that as a buyer I'm less liable to look at FSBO homes, but as a seller, why not try? We found a realtor that we like, but would like to save ourselves some money. If it doesn't work out, we'll hire the agent we like.

To be honest, we were burned using agents on the purchase of our first home. The sewer/water assessment on our house was "forgotten" or "found" on the day of our closing, putting us in a bad position. So, why not try to do it ourselves, after much study on the matter?
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Oct 7th, 2003, 06:26 PM
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If, as you say, "Now, I'll admit that as a buyer I'm less liable to look at FSBO homes, but as a seller, why not try?", the reason is that if many buyers feel as you do, and realtors won't show your house, who are you going to sell it to?

That being said, we sold our last home on our own; it took about 6 weeks. We put an ad in the local Sunday paper, had open houses, typed up an information sheet, and made sure the offer to purchase (a binding agreement in our state) was OK'd by our attorney.
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Oct 7th, 2003, 08:47 PM
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I don't understand if an assessment was overlooked by both a realtor and you (surely you read the contract didn't you?) why would you be less likely to make the same mistake on your own?

And abram has answered your other statement. Many other buyers will feel as you do -- less likely to look at a for sale by owner house. And most realtors who have the serious buyers already using them, will not touch your house knowing you aren't doing a commission. You simply limit the potential buyers dramatically.
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Oct 8th, 2003, 03:12 AM
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I work in real estate, however it is commercial real estate and not residential. Having said that, I would not attempt to sell a house on my own because as much as I know about real estate as a whole, I am still missing the vital pieces from residential knowledge. I have bought, sold and moved three times now and if/when I move again, I would use a real estate agent. Each of the times I have bought, I have not looked at FSBO homes. I am simply not interested in them. Even in Atlanta where homes sell rather quickly, I still would rather list with an agent.

As others have stated, no an agent will not take anyone through your home. However, if you are listed with "x" firm and a client walks into "y" firm, that client will find out about your listing if it falls within his/her parameters. Some firms list all homes for sell, whether it is their listing or not, on their website as well.
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Oct 8th, 2003, 04:09 AM
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Mea again. As for the question of the company doing the relo for you, when we moved in 1999 my husbands company did payfor the cost of moving and the real estate fees but we are told that is a disappearing perk. We're on our own but his company is supposed to pay for his apt if our house hasn't sold in 3 mos.

As for the FSBO issue I want to reiterate my earlier comment about your wife having to sell it on her own. does she work? when will she have time to field the calls ? and yes, the safety issue should not be taken lightly.

PS>.The instructions with St Joe did not say to bury him upside down but I know I did that before. Yikes, is that why it hasn't sold???
ColletteRI is offline  
Oct 8th, 2003, 04:53 AM
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Abram: Just because I personally wouldn't be inclined to look at a FSBO home doesn't mean that others wouldn't. After all, you found someone!
Patrick: Yes we read the contract. The thing was (and we are still in court about this) that the assessment was to be rolled into our mortgage payment. It wasn't. This was actually the title co's fault, but my point was mistakes can happen w/ the "professionals", I just feel that with a little study and acquiring of knowledge we can handle the sale of our home just fine.
I guess my point, and I didn't eloquently state it, was why not try? If we can save a large sum of money, why not give it a whirl? Homes do sell FSBO, even if it's not the way a majority of people would choose to purchase a home, so why not? It's not like we can never go back and hire a realtor!!
Good points though, and great advice! I had actually never thought about me (female) showing the house myself and the dangers involved. Actually, I would prefer not to hold open houses at all. That's, to me, the real benefit of a realtor, the advertising, etc that they would do! We'll see!
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