Archive for the ‘For Sale By Owner’ Category

So after all of your work in marketing and showing your home to potential buyers, you have now found an interested party, and have discussed a price. From there you will have then negotiated successfully on an agreed price through your respective lawyers.

As we mentioned previously, you may have decided earlier to have arranged for a professional valuation to be conducted on your property, to validate your asking price and assure potential buyers that there are no major flaws in your property. Even if you have acquired a valuation, a buyer may still wish to commission their own valuation through a professional valuer / surveyor.

If you chose not to acquire a valuation, and their valuer finds any problems, the buyer may want repairs conducted before the sale on of the property can be concluded. Most people don’t want to move into a property that needs repairs. Understandable. On the closing date the buyer may want to inspect the house and ensure all agreed repairs have been successfully made. You lawyer can advise you all these matters, as they will have experienced this process many times before.

Getting a Mortgage

Once a potential buyer has acquired the official valuation, they are then free to look for mortgage financing through an appropriate company. The mortgage company may well conduct their own survey, but often if you have used a well-known valuation group, the mortgage company will happily accept your valuation. Your lawyer will be able to advise you on load-approved companies.

Final Analysis

To make sure there are no problems with your property, regarding loans taken out against it, or legal issues, the buyer’s lawyer will perform what is called a ‘Title Search’ - a final analysis of the property, to make sure there are no last-minute hitches or hidden legal issues. Thses include potential hiccups with right-of-way-issues with pathways or neighbours etc.

Any issues will be dealt with through your lawyer and they will advise you. Throughout the whole process your lawyer will keep you up to date with any changes in the contract, and always have your best interest at heart. Although you are selling ‘For Sale By Owner’, you will have a lawyer to help through the process in which they will be experienced, so you will be able to let them guide you if you have not experienced a home sale before.

Any changes in the contract you wish to make will be made in writing to the buying parties lawyer, through your lawyer, once you have discussed your requests.

Closing Date

After the buyer has conducted their valuation and is happy with the results, they can then apply for a mortgage. Once approved (and any repairs have been made, if necessary) and all conditions of the contract have been met, then the contract between the buying and selling parties becomes a binding legal document. Once the contract has been signed by both parties, then usually the closing date will fall a month or so after this. Your lawyer will advise you and keep you informed.

There are a few things you should consider now that you’ve agreed a price and the contracts have been signed. You should initially talk to your current mortgage company,and let them know that you will be paying of the remainder of your mortgage if appropriate. They will then advise you on how to proceed. You should also organise all your bills, and figure out what needs to be ammended and changed. Do you have a forwarding address now? Who should you be informed of you move? Banks and utility companies - gas, electric and so on. Think about who sends you mail and bills regularly and contact them. You will need to let people various companies know when you are moving out of the property, and what dates to close your accounts.

Your lawyer will take care of all the details regarding the closure of the deal. Collecting outstanding payments, transferring deeds and so on. You are legally obligated to keep the property in the same condition that it was in when the buyers originally saw it. On the day of closing, the may wish to inspect the property and confirm the condition. If any issues arise on the inspection, all monies are held in escrow by one of the lawyers until the isues have been resolved.

If there are no last minute issues, and process goes smoothly, you can then happily hand over the keys to the new owner of the property! A check for the final outstanding balance should be received within a few days of the closing date. You lawyer will keep you informed of the dates.

Well done! You have now sold your house privately and saved yourself thousands!

Congratulations and Good Luck from the Sell-My-House-Quick Team.

Counter Offers

When you create a counter offer with yor lawyer, you will need to go into detail about what exactly is inlcuded the sale of your property, this includes moveable items, which are not normally assumed to be included in the sale of the house. Improvements made to a property are understood to be included in the sale of a house, for example light fittings etc.

There is something of a grey area between what people expect is included and what is not included in the sale of a property, hence the need to distinguish between the two in a written contract. Anything you intend to leave behind should be included in your counter offer, as this will affect the offer and counter offer values.

Your Housing Market

As we discussed in previous chapters, it will be wise to keep an eye on your local housing market, as prices may fluctuate over the course of your selling period. If you find that house prices are stable, then you can afford to wait for a good offer. If the local market is slowly declining, you may have to be prepared to lessen your asking price. You may have become aware of a new development in your neighbourhood, a new shopping mall, or a new re-development in your local town. In this case, you can probably afford to increase your asking price and be more patient if you feel the area has recently become more attractive to a potential buyer. When selling your home privately, you can be flexible in your positioning and marketing of your property.

Handling Deposits

Deposits on houses can vary in value from deal to deal. All monies are held in escrow by the buyer or seller’s lawyer. This will be written into the contract by your lawyer, who will advise you on the escrow process and how monies exchanged.

Important Dates

There are three specific dates that you should be aware of when your lawyer puts together a contract for you.

The first date, is The Completion Date. This is the date when the title (the deeds of the house) are handed over from seller to buyer. Second is The Adjustment Date. This is usually the same date as The Completion Date, and signifies when the new buyers will assume responsibility for the bills and so forth for the property. The third date you should take note of is The Possession Date. As the name suggest, this is the date when you can literaaly take possession, and move into the property if you choose. Usually this is dates for a weekend, for ease of entry to the property. Some new owner may have an urgent need to enter the property, if they have sold their home already for example. This Possession date is separate from the others to allow a greater flexibility between the two parties involved.

Conditions of the Contract

In the contract that has been written for your transaction, there will inevitable be numerous conditions that either party may have to agree to, for the deal to close successfully. For example, the buyer may want a full housing inspection and valuation before they commit to purchase. This is written into the contract so there are no misunderstandings later on in buying process. If for example a buyer cannot obtain a mortgage for the house, then this is written into the contract that they will agree to purchase the property once mortgage approval has been granted.

If a buyer is selling their home at the same time as the are interested in buying yours, they will need to be approved for what is known as ‘bridging finance’, for which they will have to be approved for. This may be one part of their ‘conditional’ offer, if they are depending on the sale of their own property to pay for the purchase of your property. As can sometimes happen, sales fall through, and they may be left without financing to pay for the deal they have arranged with you.

This can fortunately all be avoided if your lawyer places in the contract a clause stipulating that there is a time limit on when they monies and contract has to be fulfilled. At which point, if financing cannot be obtained for whatever reason, the potential buyer has lost the right to secure your property, and you can legally market it again and receive more offers. Your lawyer will explain all of this in more detail to you, if you need more information.

For more questions answered on selling your home privately, click here.

Read Part Eight for more FBSO Top Tips.

Finding a Good Lawyer

You will have by now found a lawyer to work for you during the offer and negotiation period. A good way to find one is through a recommendation of a friend. You may know someone who has recently moved, and had a good experience with a seasoned lawyer. You can always chat to a few in your local town and see who seems most helpful and keen for your business.

When selling FSBO there’s no need to feel intimidated by the thought of contracts and negotiations. Your lawyer is there to help you understand all the contractual lingo, and ensure that you sign a contract that is safe an beneficial to you, just as if you were selling through an agent. The lawyer is very much part of your contract negotiations, and can supply you with all the contracts you shall need.

When selling privately without an agent, you may get offers from buyers that are represented by an agent. It’s important that your lawyer makes clear that your asking price does not include the cost of commission to any agent. Perhaps the buyer is insistent on using his or her agent. That’s not a problem - just make sure that their final offer includes the cost of commission to their agent. They would add the cost of the agent to their final offer price - in writing, of course. You may have to negotiate an agents commission if the buyer has been sourced your property through them. Usually around 3% of the sales price. Alternatively, you can state at the start of your marketing, on your listing: ‘Sales price includes agents finder fee of $400.’

Can the buyer get a loan?

When we find out if a buyer can get a loan before you agree any deals, we call that ‘pre-qualifying’. This is important to establish before any contracts are signed. You can maybe agree a price, but can your buyer get the cash? Do they qualify for a loan? Make sure not to commit to someone who has not been qualified for a loan. You lawyer can guide you. One of the major lenders will be able to help you. As we said before, the sales price is important as the lenders will use the sales price you agreed and compare it to their evaluation. Their are many mortgage guides online to help people choose which mortgage product is ideal for them.

Disclosure Documents

Disclosure documents inform any potential buyer about your property, and if there are any problems with it. In some countries they are required - if appropriate, your lawyer can advise you on this. Sometimes a potential buyer shall request a disclosure document. You can also, for a small fee have a property inspector come round and inspect your home for any problems there may be with the property. It’s a good idea to get one, as problems with the property can stall any possible deals with a buyer if they find problems. You can make it available to any serious buyers and they will appreciate your efforts.

Accepting an Offer

When you get an offer from a serious buyer (in writing) who is qualified for a loan, their offer will include all the usual notices: the offer price, what is included in the sale and any conditions. You will also be given a period in which to accept the offer, usually around 1-3 days. You will review this with your lawyer and discuss your options. You will always review any contract through your lawyer. If you read the offer and there are some things that you would like to re-negotiate, then you will make what’s known as a ‘counter-offer.’ You will also produce this with your lawyer.

The buyer will usually offer lower than your initial asking price - so from here you negotiate to what is a middle ground, if you want to. As we have said, your own personal circumstances, and the interest in your property from other buyers will dictate how much you are prepared to accept. With any luck, you will be dealing with multiple offers! This process may go through several negotiations, until a compromise has been reached.

You must be prepared to be patient and if you can, wait for the offer to come along that suits you.

You can do a search on current listings by clicking here and research how much  similar properties are selling for in your area.

Read Part Seven for more FBSO Top Tips.

Now that you’ve read parts One through to Four, your property should be in great shape, and ready for viewing.

Great Job! You’ve uploaded all your pictures, and written a detailed listing including all the special features of your property. It’s time to let people come and have a look.

Some quick pointers: You should always have two adults present for your viewings, (yourself and someone else), and make children and pets scare - the less distractions the better for everyone involved. Some people aren’t keen on pets, so avoid any unecessary problems. Keep any valubles out of site, or at a friends house. You may have several people (who you don’t know) viewing the property at one time.

As we said in earlier discussion, keep rooms as bright as possible, curtains pulled back, and lights on where there is little light. If your showing people the property at night, switch on all the lights for maximum brightness.

At this stage of the process, you are only letting people in to have a look around at the property - so there is no pressure on you. Chances are, you will be showing many people around - the more the better, as you will be receiving more interest and hopefully more offers. It’s good for you too, as you’ll get more practise showing people round, and you’ll become more experienced as to what people like and how to verbally present the property. You are not trying to close the deal here, only to let people in to see if they are attracted to the property, and if they want to take the process further. If someone is interested in the property, then you can instruct them to put it in writing either direct from themselves or via their lawyer.

Make sure not to be pressures into agreeing to any verbal agreements at this stage. You’ll be getting interest from lots of different parties, so it’s in your interest not to commit to anything you’ll regret later. Don’t panic! Remember that this stage is only about showing the home, not closing a deal. Do not negotiate price or come to any agreements verbally. If you do receive an offer in writing, you can then let your lawyer review it and take it from there.  It’s to everyone’s benefit if you avoid making any commitments, or suggestions of committing when someone is there viewing your property - it avoids any misunderstandings, and gives the viewers time to mull over the property and make a decision.

Individual showings

To help you organise your showings, you may want to set specific days that you can show the house to potential buyers. You can also put this is your listing, to save you repeating yourself on the phone or email. You should also put all times people book with you in a specific viewings diary. You can organise viewings for tuesday and thursday evenings, and all day saturday, for example. You can afford to be fleixible though, if someone can’t make a specific day. We recommend not turning anyone away - make sure everyone who wants to see the property can - you never know who will fall in love with the property! Always make sure you are ready for the viewees and punctual - coffee and biscuits is a nice idea.

So you will be inevitably be showing to lots of potential buyers. How to handle them? Well, first of all don’t be too sensitive to comments. You’ll soon get used to dealing with lots of people wandering round your home, and you’ll finely hone your presentation skills. Some people may want to chat to you, and for you to show them round. Some will want their own space. We recommend showing people round briefly, all the rooms etc, then offering to let them wander around on their own, free to look around.

Most people will turn up with a partner or friend, and they’ll want space to chat amongst themselves. Some features that you love may not be so great to a potential viewer, so don’t get too hung up on people’s comments. All that matters at this stage is that you have presented your home on your listing as well as possible, you’re getting viewings and showing as many people your property as possible!

Once people have been aroud the property and seen all the features, you can then invite them to ask you any questions they may have. You can tell them about the neighbourhood, your great neighbours etc - are there any new developments coming to your town? Do they have kids? Where do they like to shop? What hobbies do they have? What entertainment is there in the area? If you like you can find out a little about them and think of suggestions that will make the area more pertinent to their situation. A potential buyer may be insistent on attempting to close the deal or negotiate the deal on the night. As we said earlier, you must be firm and reiterate that all offers must be made in writing. You can always tell them that you are showing more people and are not in a position just yet to commit to anything - which is true - your always waiting for more people to contact you! See ‘Part Seven: Negotiation’ for more details on how to negotiate the closing a deal.

Multiple Viewings

You may prefer to show multiple parties the property at the same time. This is a good idea for a number of reasons - you will same time, have less hassle, and most importantly - everyone will see there is a lot of interest in your home! Of course not everyone coming to see your property will be genuine buyers - this is all part of the home selling process. Whether you are selling FSBO or with an agent, there will always be a small minority of ’sightseers’ - people just browsing. Not to worry, just concentrate on showing as namy people as possible, and your buyer will arrive. Open houses are also a good way of generating a good buzz around the sale in the neighbourhood - perhaps you will want to put a sign up outside? Good publicity. Some people will feel more comfortable in the ‘open house’ atmosphere too - more people and more relaxed. You can also get lots of feedback from all the visitors.

You can also printout all the details in bullet point form from your listing, in a simple A4 format, just as a reminder of all the great features of the property. You can also put points of interest in the local town, and your contact details too. It will be useful for people to see all the points again from your listing.

You can do a search on current listing by clicking here and research how other people are listing their properties.

Read Part Six for more FBSO Top Tips.

Advertising Your Property FSBO

Marketing your home For Sale By Owner can involve a variety of means, so here we will outline the various techniques you can use. Most likely, a buyers first impression of your property will be online, and when used in conjunction with other advertisements, you can maximise your potential. Your goal here is to expose your property to as large an audience as you can, and attract interest in your unique property and it’s great price. Once you can attract buyers to your door, your home should sell itself, after you’ve taken all the previous steps in the ‘For Sale By Owner Top Tips ‘!

Creating Your Listing

When advertising with sell-my-house-quick.com, the key is to catch people’s attention. Most people glance at a pretty quick rate through listings, as there are so many, so you have to find ways to communicate simply and effectively. You can only put so much information into the preview ad space, so the title and picture are extremely important.

Make sure your grammer and spelling are correct. Have a friend look over your listing before you place it. You may be surprised how a fresh angle can help you. Try looking at agency listings in your country. Try in the U.S: www.realtor.com, in canada: www.mls.ca, in the U.K: www.rightmove.co.uk, and in australia: www.realestate.com.au. Have a look and see what gets your attention. See what you ads you like, and what doesn’t work for you. What looks good to you, likely works for other people.

Be brief and to the point. You will want to include relevant facts about your property, and what makes it unique. All descriptions should be brief and simple. Points you should include are how many bathrooms, bedrooms, square footage etc. Any special features should be noted too. What makes your property different? All properties have something unique. You should of course only include positive notices. Is it in a great, up-and-coming neighbourhood? Near a great park or retail space? What’s fun to do in your area?

Points to note on your ad:

Does your property have any alternative spaces that can be used for and office or other use? Be creative and imagine.

Are there any good views?

What are the special features - alarms, central heating, large kitchen, bathroom, beautiful fireplace, great location, or recently re-furbished?

Is the house energy efficient? Anything you’ve done to increase the efficiency or insulation?

Have you made any value adding renovations?

Uploading Your Photographs

The photographs you upload are the most important part of your property listing. They are the first impression, and the initial attraction, so it’s important you get it right. Always use the maximum (6) photographs allowed for your listings, to give as much information as possible.

Consider the following tips:

Include an outside image as well as inside to give a more complete story to your listing. One exterior may be enough. Include any special features you think may ad value to your listings.

You want to make the property appear as bright as possible on the inside. Open all curtains wide, and remove all clutter from the windowsills if you need to. If the room is too dark, switch on all lights. If it is a bright day outside, you’ll need to face the camera away from the light, so it will adjust and make the room appear brighter.

Make sure you choose a sunny day! What a difference it makes. Try a few different angles for the exterior shot and see which one works best. Include as much as you can. If you have a car in the driveway, it’s best to remove it. Keep it looking spacious. Are there interesting features in your garden? Make sure to include them. Winter is good if you can capture fresh snow, spring for new trees, summer for plants and flowers and autumn for the changing of the leaves. Morning and afternoon offer the best light. Only once you have worked on the exterior and it is ready to be sold should you start taking pictures. Be creative. Enjoy the process!

Your Internet Listing

Advertising with sell-my-house-quick.com will allow you to reach a huge audience across the globe. The vast majority of people (over 80%, according to the National Association of Realtors) now use the internet to find property, and that number grows every year, as more and more people become familiar with how to use the internet and it’s vast possibilities. With sell-my-house-quick.com you can easily set up a bespoke listing, selling your unique property to the world.

You can also try classified ads in your local paper. Set a budget to how much you are willing to spend. Again, see what works and use them as an influence when writing your ads. It can be a cheap and inexpensive way to promote your property - and you want as much of it as possible. Remember not to fall into the old trap of thinking bigger and brighter (and more expensive!) ads will make a difference to your promotion. Often, this is not the case, and simple black and white ads, with 3 or 4 lines can work well.

Get in touch with friends

Now that you have your listing online, it’s time to get in touch with your network. How many people do you have in your phone contacts? How many people in your email address book? Contact them all, and tell them about your property. Everyone knows someone! You can email them your unique property listing url (thats the line in your internet browser where you type in addresses. You can copy and paste this into your email that you send out.) so they can see the listing for themselves, and pass it onto friends.

Voicemail

Remember that when you start to market your home, you can choose to put your contact details on the listings. If you are putting your phone number on the listing, make sure you change your voicemail to something relevant to your ad, so people know if they can’t reach you, they’re at least got though to the right number. If you residential number has voicemail, do the same thing here too.

If you wish to keep your contact details private, you can choose to keep your details hidden, and people can contact you via our ‘contact the owner’ button, and we will forward the messages to you at your chosen email address. Simple!

You can do a search on current listing by clicking here and research how other people are listing their properties. Read Part Five for more FBSO Top Tips.

If you have set up an email address for inquiries, be sure to check it regularly and answer as soon as possible.

Now that you have prepared your home for potential buyers, your ready to put it up for sale.

Hiring Real Estate Lawyer / Solicitor

The first thing you should do is hire a real estate lawyer or solicitor. (Depending on your country it will either be a lawyer or solicitor. We’ll call it ‘lawyer’ from here on in.) All deals and trasnactions regarding real estate and property will require legal documents, so hiring a lawyer early on is a good thing to do. A lawyer can also help you make sure there are legal orders on the property you are looking to buy or sell, help with complicated contracts, review contracts and hold in escrow any downpayments. They can also tell you what you need to disclose to a potential buyer and help you find title insurance.

In Part One, we discussed some ideas for valuing your home. Here are some more important features that will help you when you are comparing your home with others:

What is your Neighbourhood like? How old is the house? What is the total square footage of the house? How many bedrooms and bathrooms does the house have? What is the total size of the property?

Compare your home to the others in your area. Does your house have a garden? Is it next to a main road? Do you have trees? Are you near amenities? Are you near a park for kids? Is your property finished to a high standard? What’s your kitchen like? What sets your home apart? Do you have a basement? Do you have a Swimming pool? Does your home have lots of yard space? Does it back onto a park? Does the garden have shade? A Swimming pool? All of these factors contribute to your final selling price.

Before you list your property, you need to consider your time frame.

You should have by now, a good idea of what your local market is like, and what kind of property is up for sale. Now think about your time frame. and how quickly you need to sell. If you are in a hurry, you can set the price just below the current market value. This shouldn’t be a problem, as you are saving thousands by advertising FSBO, so you can afford to sell at a great price.

If you can afford to wait slightly longer, then set your price higher. Remember that most sales of properties are and should be open to negotiation. Approach selling your home with an open mind, and don’t be offended if someone offers you less than you want. Most people offer less that the asking price of a home. Remember that homes that are priced too high will be difficult for a potential buyer to obtain a mortgage on.

Your Final Price

What can you afford your net profit to be? You need to sit down and figure it out. Consider the following:

Are you planning on investing in the property to get it sold? You will need to consider costs that will be involved: advertising, and a lawyer. Do you want to do small rennovations to help get the place looking good? You may want to get a professional valuer, and in some countries you’ll need to acquire certain certificates. (In the U.K you will need a HIPS pack, or a Home Report). Perhaps you’ll need to get a painter or a cleaner in. You can draw up a list of expenses you may need. Don’t forget to include there may be capital gains taxes, mortgage fees too, and the cost of removal as well.

Once you’ve decided how much you think you might spend on getting your house prepared for sale, and how much you would spend on rennovations, you need to subtract this from your lowest possible price. This is the lowest price you would accept from a potential buyer. This gives you your ‘bottom line’ - the money you will walk away with once you’ve sold your property.

If it’s lower than you had thought, then look again at what you’ve decided might add value to your home. Is the professional your getting in to rennovate the basement really going to add value? Sometimes a lick of paint is enough. Do you need the landscape gardner? Have a think about your options, and what will really add value. Trim back your expenses, so you can add more to your bottom line. Expensive rennovations may not add value to your home, or as much as you think - often buyers have their own ideas about what they want to do. Some people plan to do their own, and make it their project. Clean and bright - that’s your goal!

Your intial asking price should always be HIGHER than the lowest possble price you are prepared to sell at. That gives you room to negotiate. It doesn’t look good if a potential buyer asks ‘are you willing to negotiate?’ and you reply that your not! That can be the end of the conversation right there. You really do want everyone to be happy, not just you! Negotiations are good, and create rapport and the feeling of a win-win situation. Don’t set it too high though - it’s not just you who’s valuing your property - the buyer will be too, and the mortgage company - so you can’t wander into the realms of fantasy!

Your asking price can change during the selling process, depending on how long you market it for. In the current climate, prices tend to be quite volatile. If you have already found the home of your dreams, and are keen to sell, you may be more flexible on price. The house of your dreams doesn’t come up everday, so don’t miss the chance!  You should always keep your ‘lowest possible price’ to yourself. There’s no need for anyone to know, and if someone is aware of it they can use that information as a tool to get a better price from you. You have a good idea of what your home is worth in the current market, so get out there and go for it!

For more details and FAQ’s, click here for FSBO questions. Read Part 4 for more FSBO Top Tips.

One of the most important factors to selling your home is mastering how to showcase it to potential buyers.

Inside and out, the way you present your home is essestial to a quick sale. Its best to start looking at presentation of your home, even before you upload photos and list your property. If you make sure your home looks its best, so you can give yourself the greatest shot at success. Normal wear and tear may put off prospective buyers, so its time to get a fresh perpective!

Getting a Valuation

Almost all buyers will want an ‘official’ valuation of your house before they sign on the dotted line. The valuers, or property inspector will look at the structure of your home, plumbing roofing and so forth. Valuations vary, and can be more or less extensive, depending on what is requested. If selling a home, you should probably organise a valuation yourself, instead of waiting for a potential buyer to get one - in case of any unsuspected faults or problems that may delay a deal. Arranging a valuation can also add credibility to your pricing, and show you have been active in aquiring fair value for your home sale.

If the property report is good and there is no problems with your property, then you can relax in the knowledge that your property is in good shape, and you’re offering a good deal. If there are any problems, you can deal with them and sort out any problems. A small fee for a valuation can set your mind at ease.

If you are planning on doing any renovations, then consider energy saving changes. They are extremely attractive to potential buyers, and can make a difference to a buyers final offer.

Examine Your Interior

Before you market your home, you need to look at it with a fresh eye. You can maybe enlist a friend to come in a recommend any changes that may be needed to freshen up your property.

Make sure your house is immaculate! You must make sure that your home is in great condition to a potential seller. You need to make sure that your house is as desirable as possible and create a good impression. Maybe consider getting your house professionally cleaned? They will be able to see things you can’t.

If you’d like to do the cleaning yourself, consider the following options.

Kitchens and bathrooms. Where people eat and bathe are particularly important to potential buyers. These must be immaculate. If your kitchen or bathrooms are looking the worse for wear, consider having new pieces put in.

Curtains can look old and tired - check yours, and see how they look. Again, new items can make a huge difference.

Wash all windows - light is the key to selling a home.

Clean and polish hardwood floors.

Clean, repaint, or polish all doors if required. Especially the front door - a newly painted front door makes a great first impression!

Clean light switches - they can really show up dirt.

Dust all around the house.

Get rid of any odours there may be. If your a smoker - smoke outdoors from now on!

Clean your carpets - getting in a really good steam cleaner may be a good idea, of hire a professional.

Walk around your home and look for flaws. There’s bound to be some rooms that would benefit from a nice fresh coat of paint.

It always looks good to recaulk grouting between bathroom tiles. It shows up grim and can put people off.

If you have old carpets, replace them.

Getting ready to show your home.

Remember that when showing people your home, you are trying to sell not your home, but their home. You should try and de-personalise the property. Your trying to show them how happy they could be here, not how happy you are! Let them imagine hhow they could feel there. You are trying to sell someone a blank canvas to create their ideal home. Make the home look bright and airy, ready for someone else. Buyers will want to look all over your home, so make sure every place is perfect for them - no rubbish anywhere! Some ideas to consider:

If you have clutter in the house, try and get rid of it, or tidy it away. Garage sales can be a good way of getting rid of stuff you really don’t need! Storage, or leaving with friends is also an option. If you can’t find anywhere, neatly store them.

If you have a garage, clean it up.

Remove pictures that personalise your home. This may sound strange, but your presenting a blank canvas here. People can feel like they’re intruding otherwise, and struggle to imagine their home.

Remove any items that are in the way of windows. Get as much light in a possible.

Fresh flowers placed around the house look great.

The Exterior

First impressions of your home are all-important. Its’ what will initially attract buyers to look at your home, so it’s of the upmost importance. An exterior that’s not up to scratch will put off most people - your most important role in selling is to get people in, and after that your home will sell itself. Some ideas to consider for presenting your exterior in the best light:

Do you have a garden? The way your garden looks is a great selling point. How does yours look? You could consider having it professionally landscaped. They can make an incredible difference. If not, just tidy up, rake any leaves, cut the grass etc. Fill any bear spots with small trees or shrubs.

Clean the pool if you have one.

Repaint the front porch or verandah if you have one.

Any fences should be repainted.

New doormats are a nice touch.

How do your windows look? These are an important feature. If you have PVC window frames then make sure they’re clean. If you have wooden window frames. have a look at the condition of them. Do they need a new lick of paint? It could look good.

For more advice on selling your home privately (FSBO) click here for more informtaion. Read Part 3 for more FSBO Top Tips.

Thinking of buying or selling FSBO (For Sale By Owner)? Read on for an in-depth guide to FSBO.

Recent figures confirm that the numbers of people now searching online for properties are on the increase. In the current economic climate, more and more people are choosing to sell FSBO. If you decide to sell your home FSBO, or indeed are looking to purchase from someone selling FSBO, it always helps to have a good knowledge of the process from both sides.

Many people think that selling FSBO takes alot of hard work, and is best left to the professionals. This is not necessarily the case. It can in fact be a very straightforward, simple process. If you are prepared to put in the work of an estate agent, and some time advertising, the rewards can be great.

Worldwide Exposure

As the internet grows and the volume of people that have access to the internet expands, so does the potential for selling your home to a wider audience. You can now, on www.sell-my-house-quick.com quickly and easily advertise your property to the world, at the touch of a button. Incredible!

FSBO: The Main Points

Realtors or Estate Agents, depending on your country of residence, can often depict the selling process as a complex and mystical affair. In reality it can be very simple. Why wouldn’t you be prepared to do a little work, sell your home privately and save thousands on commisions? You have the tools at your fingetips to sell your home just as effectively.

Professional Help

Although you wil be selling your home privately, you will need some professional help along the way. Remember, you will be saving yourself a small fortune, so you can afford to pay a small fee here and there for some professional advice! Again, depending on your country, you will need either a real estate lawyer or solicitor, and possibly an appraiser or valuer if you feel you may need help with this.

One great part about selling your home yourself is that like an agent, you can control the price you advertise for, so if you would like to generate more interest, you can advertise your home at a more competitive price- much like an agent would do! You can also easily reach the same audience as an agent - over 80% of buyers now find homes on the internet.

FSBO: The Start

Selling your home privately is a very logical process, and all you need is some common sense and patience. ‘I have a property I wish to sell, what do I do?’

We recommend the first step we recommend is to so some research. It can be fun! What’s being advertised in your local market now? Have a look at the local free property papers. Get a gauge from the properties on sale what’s hot right now. You can call the local paper - is it a good time to sell? Are there lots of properties on the market compared to a few months ago? Are there a lot of buyers out there? Should you wait for a turn in the market? Is it a popular season to sell? (Winters are notoriously slow). Can you afford to wait? Do you need a great price, or are you flexible? Different countries are going through different general cycles - U.S and U.K prices are falling -  Australian and Canadian prices are going up…what does your local market tell you? You can talk to local agents as well.

FSBO Valuations

You can talk to neighbours and friends too. How did they sell? Did their property sell quickly? You can also check the local papers for ‘comparables’, meaning houses that are similar to your own. This is essentially all valuers do - do research for you, at a cost. Again, this is something you can do yourself. Find out what is being sold in your area and for how much. Are there any properties near your own that are similar in size and build? Probably quite likely. You can price your home for what you think is reasonable - remember, the market never lies - if you price your home to high, no-one will enquire. It really is that simple. You know yourself when you make purchases. If you feel that something is too high, you shop around. Everyone is the same. If you are not getting any interest in your home, it means you’ve priced it too high. Ammending your listings on www.sell-my-house-quick.com is simple, so you are flexible and on top of your market. No going back and forth between you and an agent. YOU are in control. Sound good?

You can also browse through the regular agents sites in your country, there are many to choose from. They’ll give you an idea (keep in mind they will be adding extra for their commission!) of prices that agents are advertising properties for. If you price your home reasonably, you can make more money and give someone a great deal. A win-win situation.

When you advertise your home yourself, you may of course be approached by agents looking to sell your property for you. This may be an option for you in time, and something to consider down the road. Thousands of people every month sell of buy properties FSBO, and you can be one of them - try it and see you you get on. It is just one of many options open to you. You can try them all.

How Much Can You Save?

When selling FSBO, you remain in control, and its a great feeling. You can decide the price, who to show the house to, and how the deals are done. You can gain a greater insight into your market and learn at the same time. You have access to some great tools and exposure on this site and you can save thousands, for a small effort.

You can do a small calculation on our homepage - how much will you save? Select your country, and then type in the price you want to sell your property for. How much could YOU save?

If an agent does call you looking for business, you can use the opportunity to obtain information about the current market. Be up front about your intentions. Discuss your plans. The more information you acquire, the better you will be prepared to sell FSBO.

You can do a search on your local market by clicking here. Read Part Two for more FBSO Top Tips.

Selling For Sale By Owner? Will you be needing a mortgage? Looking to a home privately? Read on for further mortgage guidance.

Many governments have recently cut their interest rates to stimulate their economy to help borrowers achieve their real estate dreams.

Borrowers are now in a great position to secure ideal rates for their mortgages. The Bank of Canda for example has set its prime rate at 0.25% through to next year - the equivalent of 2.25%, the lowest rate Canada has ever seen.

The banks are currently offering extremely competitive rates, so what are the ways of finding the best deals?

Comparing Mortgages

Recent surveys suggest that most mortgage clients are not shopping around for comparables: more than 3/4 of customers who are up for renewal stay with current lenders. If you take the time to have a look around the market, you could save yourself thousands. Remember, small differences in percentages on your mortgage can stack up to huge savings over time.

You can also choose to go to a mortgage broker, as well as banks. Mortgage brokers offer specialist advice. Try asking friends for recommendations. The may be able to save you time and money. You can compare the products they suggest with the ones you find yourself. Over 40% of new mortgages last year were created through mortgage brokers.

Which mortgage - a Variable or Fixed rate?

With interest rates at an all time low, you may well be tempted with a fixed rate mortgage. As the name suggests, the fixed rate mortgage rate you pay will remain the same over the coarse of the contract. If you choose a variable rate mortgage, your monthly payments will vary in line with the banks prime rate.  While interest rates are low, many mortgage seekers will be opting for the low fixed rates. In reality, the choices are up to you - some people will rather have the secuirity of a fixed rate, whilst other would rather have variable rates, which may in fact come down further with time.

Length of Terms

Not to be confused with the length of the mortgage (which usually runs from 15 to 25 years) the length of term refers to the length of the intial agreement period. This will typically run from 6 months to 5 years, and is the intial agreement for the interest rate of repayment. Usually at the end of this term, you will be able to negotiate a new interest rate, or shop around for a better deal. Right now, because of the low interest rates banks are offering better terms for short term products, but you can check with specialists for the best deals. They can help you draw up some variations for different packages.

Your Credit Record

You should also take into careful consideration your credit score. Do you know what yours is? In the U.S. you can now aquire your credit score free of charge. In the U.K there is a nominal fee. It’s important to know how you are rated by the credit companies, as this will affect the products that are available to you. The better your score, the more likely you will be offered one of the better mortgage deals. The better your score, the less you will have to offer as a downpayment, the lower your score the more you will be expected to produce as security. If you can find out an average score for your country of residence it’s helpful - it is at that point and above that you can aquire the better mortgage products.

How Do I Get a Good Credit Score?

The most popular ways to start building a good credit score is to apply for a credit card, and start using it regularly. The best thing to do is to use it for small amounts regularly, and pay off the debt quickly. You then build a record of reliability and trustworthiness with your lender. This all counts towards a good record. It’s very important to pay on time, at least the minimal amount, as any late payements will adversely affect to record. An even better way is to pay off the full amount every month. Just use the card for your regular purchases, and keep a sharp eye on the credit card - it can add up quicker than you expect.

Make sure the debt on the card is always low. You don’t want to be maxing it out every month. Spending around 30% of the amount available is a good level to go for, that way you don’t look as if you really need the money - always good.

Credit Record

Remember that applying for credit can in itself can damage your credit record. It seems strange, but if you apply for too much credit, this can damage your credit! If you apply in a short period for a number of bank accounts, credit cards, or different mortgage products then this will be a problem for you and your lenders - if you seem desparate for credit, this will disqualify you from many lenders.

Every time you apply for a mortgage, you may be asked if its ok for the lender to check your credit history. This will be noted on your credit history. Make sure you are aware of how many searches are being done on your behalf. Mortgage brokers generally will just perform one credit check, and use these results to find you a selection of products.

The credit score process can be very tricky to master, especially if you have ‘bad credit’: meaning you have defaulted on previous loans or debts. You can usually restore and rebuild your scores, with patience and time. Normally repaying old debts is a good start, though it can be notoriously difficult to approach and repay old debts with coporations and companies. You can call Experian or Equifax for more details on your credit score, and how to examine in more depth your credit history.

For more details on for guidance on For Sale By Owner, click here.