For Sale By Owner | O'Neal Real Estate
May
04

For Sale By Owner

I once sold a house “For Sale by Owner” and it went as well or better than most transactions. I put a sign in the yard and 2 days later a couple showed up with cash money so we closed 2 weeks later. website tech information web domain Why would I pay someone 6% to stick a sign up in my yard? That is a question I get asked often and the answer is not a simple one line response.  The real estate market is extremely complicated and constantly changing.

Getting back to my sell and why it was the wrong decision. Both sides were at risk with no representation and neither one of us had a clue how much of a risk we took.  First neither one of us even looked over the contract. It was given to us by a title company and was only one page compared to most states using 10-15 page contracts which clearly spell out the agreement.  Second the purchase was cash and no attorney read the abstract nor was there any title insurance purchased. This could cause major problems when the buyer tries to sell their home.  Last of all the buyer took a huge risk without hiring a licensed home inspector. It amazes me how many people think they understand how homes are built but misjudge the condition of the property.  A trained home inspector can find costly problems on the front end.

The reasons for selling a home by owner just do not add up and the risk is too much.  Buyers expect discounted prices when buying direct and most of the time the sellers are priced higher than most agents would recommend. Homes are the largest purchase most families make and learning as you go can result in tough lessons.  Some of those decisions cannot financially be overcome for years.  List your home with a professional that can market the home through different websites, social media sites, etc.

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