Home Selling Guide

If you've never done it before, you may be intimidated by the "For Sale By Owner" process.

Once you've actually gone through it, you be amazed at how easy it actually is...and thrilled at the amount of money you've just saved yourself. Your first reaction will probably be disbelief at the huge profits made by real estate agents for the limited amount of work they actually do.

Selling your own home is alot easier than the real estate agents want you to believe it is. But it still takes a certain amount of will and determination. Your job is to absorb the duties a real estate agent would normally perform on your behalf. All you need to do is follow the step-by-step FindMyFSBO.com House Selling Guide below, and you'll be well on the way to keeping that 6% commission for yourself. Cut out the middle-men...sell your home "For Sale By Owner". You'll be glad you did.

For Sale By Owner Step-by-Step Home Selling Guide

The first thing we need to consider is the appearance of your home. How will others see it? During the course of time we spend in our homes we sometimes become blind to the small scuffs and inconveniences of normal wear and tear. We allow personal possessions to clutter the open areas. We live with stains on rugs, scuffed wall paint and overgrown bushes. In order to effectively prepare your home for a competitive home selling market, you need to look at it through your potential buyer's eyes.

Home buyers are looking for clean, bright houses with spacious rooms and pretty yards. You are going to have to clean up your home, with major attention to the small details. Home buyers toady are sophisticated shoppers. They peruse the market with critical eyes. Buyer's don't overlook "minor defects"...they dwell on them. You want to have the buyer's full attention focused on the positive aspects of your home. You do not want the buyer diverted from all the wonderful aspects of your house because of a few minor flaws.

Make sure all parts of your home are clean and all systems and appliances are in good working order. Complete any and all small repairs you've been putting off. Fix leaky faucets. Shampoo carpets, or replace them if you need to. Paint walls and trim. If you don't take care of all the repairs your home needs, they will be revealed during the home inspection your seller will surely request. Before we get to the business of locating a serious-minded buyer, we need to ensure they'll have no reason to back out once we've found them. It's all about confidence. If your house is in perfect working order, you'll have the confidence necessary to get it sold.

If you have any concerns about what a house inspection might find wrong with your home, you may want to call up a local home inspector. Explain your situation, and have them give your house a once over before you even put it up for sale.

Some of these repairs can be major expenses, in terms of finances and time, but if you want your home to sell quickly at your asking price, then you need to get them done. Otherwise, you may get in to situations where buyers won't buy unless you offer them substantial financial credits so they can do the repairs themselves. It's always less expensive to have the work done yourself.

You've got one chance to make a great impression. If the buyer does not have a favorable experience while visiting your FSBO home for the first time, they will likely not return. So you need to do it right the first time. A well-maintained home offered at the right price will sell itself. Take the time to make sure your house is well maintained before you go any further.

Once you've covered all the major projects (paint, wallpaper, rugs, plumbing, electrical, etc.), there are many things you can do to improve the appearance of your home.

Indoor Checklist

• Clean the windows and vacuum out the window sills.
• Clean all rooms, reduce clutter.
• Clean bathrooms well. Remove all mold and mildew. Keep tiles and grout clean.
• Clean and organize closets.
• Remove most small appliances from countertops.
• Fix any broken tiles.
• Remove stored junk from attic.
• Check to see all doors and windows operate properly.
• Check for loose doorknobs, handles and railings on stairways.
• Clean electrical switchplates. Replace if broken.
• Change air-pump/air conditioner filters.
• Use mildly-scented candles to make sure your home smells good.

Outdoor Checklist

• Clean or repaint front door. Make sure front door knob works properly.
• Keep lawn mowed and fertilized. Patch bare spots. Remove dead branches, leaves and lawn clippings.
• Edge your driveway, walkway and sidewalk.
• Trim all hedges and bushes.
• Weed and remulch all flower beds.
• Clear all gutters and rainspouts.
• Check all fences and gates for any needed repairs and/or paint.
• Powerwash driveway and walkway to remove any stains.

Home Warranty

You may want to offer a home warranty with the sale of your home to put your potential buyers at ease. A home warranty is a service contract, usually for a renewable term of one year, which helps protect homeowners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear.

There are a few compelling statistics to offer a home warranty.

• 8 out of 10 buyers prefer to buy a home with a warranty.
• Homes with warranties return a sales price that averages 3% higher than homes sold without.
• Homes on the market with a warranty included sell on average 50% faster than homes without.

Visit our Home Warranty page for more information.

Step 2. Pricing your home right.

Make sure you price your home right. Remember the rule:

A well-maintained home offered at the right price will sell itself.

If you overprice your home you will not get offers. You may not even get any calls. An overpirced home reduces buyer interest and makes competing home slook like a better value. You may also run into problems when your interested buyer's lending institution will not finance them because the home will not appraise for your asking price.

Overpricing is the number one reason many "For Sale By Owner" homes do not reach the closing table. The local real estate market dictates the price. The value of your home is based on what someone else is willing to pay for it...not what you think it's worth. Be realistic. Your already saving 6% by selling "For Sale By Owner". Pass some of the savings on to the end buyer, and your home will sell faster.

When picking a price for your home, start your research by talking to home sellers in your neighborhood. Try to find out what recent homes, similar to your own, have sold for. Determine the price range people are asking for their properties in your neighborhood. Check out the real estate listings in your local newspaper. Try one of the free online home price estimate websites like Zillow. Their prices are not always accurate, but the information can be part of your market research mix.

Most neighborhoods have a pretty stable price per square foot. Take the houses that have sold in your neighborhood and divide their selling price by the square footage of living space. For example, take a $200,000 house with 1500 square feet of livable space (200,000 divided by 1500 equals $133.33 per square foot). If your home has any additional features you may want to set a slightly higher asking price.

Still nervous about the price? Try our ElectronicAppraiser service. Or contact a local real estate appraiser.

If you set your home asking price 7-10% above the percieved market value, it should result in offers close to your home's true value.

One last tip...set your selling price slightly below a whole number. For example, if you are thinking of selling for $230,000, ask for $229,000 instead.

Before you put the sign out in your front yard, establish a relationship with a title company and real estate lawyer, or both.

Use our links to local service providers, to locate a title company who will help you sell "For Sale By Owner". Just call them up and tell them you're selling your home by owner, and you'd like to use their services to get the deal closed. Ask them what the process is, and what exactly they'll need from you. Often they will send you a purchase and sales agreement if you request one. Another option is to have the prospective buyer go right to the title company's office when the negotiations are done and they're ready to buy your home. They can usually go there either together with you, or alone by themselves. Either way, work all the options out ahead of time with your contact at the title company.

Although it's an extra expense, it could be a good idea to hire a real estate lawyer who will protect your interests throughout the entire home selling transaction. An experienced real estate lawyer can help you evaluate complicated offers (those with a variety of conditions), act as an escrow agent to hold the down payment, evaluate complex mortgages and/or leases with options to buy, review contracts and handle your home's closing process in tandem with the title company. They can also inform you on any and all home selling laws, so you'll have no regrets down the road.

Whether you're working with a title company or attorney (or both), try to gain an understanding from them as to what they expect from you during each step in the process. This includes what kind of paperwrok you'll need. What to do when when your buyer makes an offer. When and where you'll have the Purchase and Sale signed, etc. It is important you go into the process knowing whats expected of you at each step along the way. Most buyers will be looking for you to guide them. When your buyer asks, "How do I make an offer on your home?", it helps to know the answer. Maybe you're in charge of reviewing all offers. Maybe all offers need to be submitted to your attorney for review. Maybe the title company has a legal team to help you. Know what to do and what resources you have at your disposal before you begin...then the sale will flow right through as if it's on autopilot.

In southwest Florida, title companies will usually handle all aspects of the transaction and have in-house legal resources onhand to assist you with legal issues that may arise.

Unless you are experienced at selling "For Sale By Owner" , having a real estate lawyer at your side might be a good idea. The process will be truly pain free when you have peace of mind that your interests are being looked after by a real estate law professional. You will also find links to local real estate lawyers on our Service Providers page.

It helps to have a working relationship with a mortgage broker.

How do you establish a relationship with a mortgage-broker who can help you? Just use the Find My FSBO "Service Providers " link, call up a few of the names you see listed there, explain you're selling your house For Sale By Owner and you'd like to have a lender or mortgage broker you can send your potential buyers to. Double check to make sure the mortgage broker is willing to prequalify your prospective home buyers for free. Shop around and make sure they are able to offer industry competitive rates and terms. There you have it...you've just etablished a relationship with a mortgage broker and you've just made it easier for the end buyer to purchase your FSBO home.

Now when prospective buyers call you up and inquire about your "available financing", you can just give them the mortgage brokers number and inform them to tell the mortgage broker they are calling to get pre-qualified for your FSBO home.

Financing options appeal to prospective buyers, as this is usually perceived as a confusing or difficult part of the home buying process. Many potential buyers will already have relationships with their own lenders and will not require your assistance in this department at all. But for those who don't have a working lender relationship, you've just opened a door that may get your house sold.

Will a well-maintained home offered at the right price sell if there's no one around to see it?

Probably not...this is where FindMyFSBO.com comes in.

We can provide national internet exposure with a local focus. FindMyFSBO.com will give your property exposure on one of the major destinations for online information about FSBO home sales in Cape Coral, Fort Myers, Sanibel, Captiva, Estero, Bonita Springs, Naples and the rest of Southwest Florida. Our partnership with the prominent Southwest Florida destination website, The Cape Coral Barometer, adds even more incoming out-of-town traffic to our website.

Don't forget...each listing on Find My FSBO also appears in the real estate section of Cape Coral's well-ranked destination site, The Cape Coral Barometer at no additional cost.  It's like getting double the exposure for free.

Many home buyers don't even read newspapers in these days of technological advancement. In this world of fast changes, they look to the World Wide Web for instantly updated real estate information. We'll allow you to reach these potential buyers. We offer national exposure with a local focus. When people want FSBO flexibility in Southwest Florida, this is where they end up.

Writing your sell ad

FindMyFSBO.com allows you a 1,500 word description of your house (try to imagine what that would cost in a local newspaper). The best advice we can give you is this:

Keep it short. Keep it simple. Tell the buyer what they want to hear.

Lengthy and verbose descriptions won't attract more buyers to your house. It will just give them eye fatigue. You're trying to make serious-minded prospective buyers curious enough to want to schedule an appointment to come see your house. Give them just enough information to do that.

Prospective home buyers surfing the internet are looking for specific pieces of information. Among these are price, location and number of beds/baths. Keep it simple. Don't offer any information that would rule your home out. Remember, the whole purpose of listing your home on FindMyFSBO.com is to generate leads. Phrases like "handyman's special" or "repairs needed" should be left out. Any words, numbers or phrases that make your house less attractive to a potential buyer have no place in your Find My FSBO ad.

Accentuate the positive aspects only. Draw buyers in by offering just enough information to make them want more. Oftentimes, prospective buyers will end up purchasing a house quite different from the one they originally had in mind. Make sure your FSBO home is among their options when the big decision time comes.

Photos will sell your home.

FindMyFSBO.com offers you the ability to post up to 8 color photographs with each listing. Be careful with the photos you choose. Nice photos will sell your house. Problematic photos will keep buyers away.

When taking photos on the inside of your house, accentuate the positives. Let the sunlight in. Open shades and curtains. If your pictures are still too dark, turn on interior lights. Reduce or remove all clutter from countertops and floors. Set the dining room table for dinner. Take trash cans and stray toys out of the frame. Prospective buyers want to see pictures of your home, not your possessions. Give them a nice blank slate so they can picture themselves living in your FSBO home.

When taking photos on the exterior of your house, accentuate the positives. Take the pictures on a sunny day. Southwest Florida is the Sunshine Capital of the World...give potential relocating families more of what they're looking for. Sell the lifestyle. Get your nicely manicured tropical garden into the frame. Let them see the palm trees in front of your house. Move all automobiles, gardening tools, bikes and children's toys out of the image.

The more pictures you take, the more good ones you'll end up with. With digital cameras you don't even need to worry about the costs of film anymore. Look over all your images. Delete the bad ones and separate the great ones from the good ones. Take your best images and use some photo editing software to accentuate any colors that may have been distorted because of lighting conditions.

If you need help with taking some great digital photos...Find My FSBO has an optional photo package available.  Contact us for details and pricing.

Lawn signs

Lawn signs are the first and most important tool you will need in order to sell your home "For Sale By Owner". A lawn sign screams to everyone who sees it, "This House is For Sale!!!".

Lawn signs are the cornerstone to both marketing and networking. These are the systmes that will get your home sold. Neighbors may be looking for an upgrade, or downgrade, to their own house. Neighbors may know someone else looking for a house in their neighborhood.. People driving around looking at houses will see your sign and develop an interest. Many times, a prospective buyer working with a real estate agent will see your "For Sale By Owner" sign and come back afterwards out of curiosity.

Professionally produced signs convey a quality image to your potential buyers. If you don't live on a well-traveled street, directional signs pointing the way to your home can be helpful. both types of signs are available as an add-on to your FindMyFSBO.com listing.  Contact us for details.

Info-Tube Home Brochures

Attaching home information sheets to your "For Sale By Owner" sign can really jumpstart interest in your home. Attractive brochures with detailed information and pictures can be printed directly from your FindMyFSBO.com listing.

Play an active role.

When prospective buyers come to see your house, play the part of the quietly confident salesperson. Offer tidbits of useful information that accentuates the positive aspects of your house and neighborhood.. Answer any questions they have. Allow them the freedom to look at your house without you putting the high pressure sales pitch on them. Read your customers. Determine whether they want the full tour, or want to be pretty much left on their own to look around. Many times potential buyers come in pairs, and want a little privacy to discuss whatever thoughts they may be having about your house. Let them talk in private. Let them get excited about your home. Let them picture themselves living there.

Step 5. Negotiating with a buyer.

When selling "For Sale By Owner" , an offer to purchase your home can come in many different forms.

Many times it is informal, with a buyer who saw your home and expressed interest calling you up to tell you they want your home and are willing to pay full asking price. Other times they will offer you less than you're asking, and you'll be given an opportunity to accept their offer or make a counteroffer. Sometimes a potential buyer will tell you right in person that they're interested and make an offer on the spot. Or a buyer may email you an offer and want a respond via Fax or email. One other way you may receive an offer is through the prospective buyer's attorney.

When you've received an offer is when it sometimes helps to have a real estate lawyer (or other professional help) to assist you. This is why you did your research early on in the process and you know exactly how you need to proceed.

Be wary of offers that leave you in escrow over thirty days or contain multiple contingencies. If you feel the offer made is insufficient, make a counter offer. The buyer's first offer is usually much lower that what they are ultimately willing to pay for your home. Negotiating is part of the home selling process. Ask for what you want. If you don't ask, you won't get it.

Again, your lawyer should review the details of all offers.

Oftentimes, buyers and sellers have an Attorney Review Period, of up to three days, to cancel or amend the offer. If no action is taken, the offer becomes a binding contract at the end of the Attorney Review Period. Home offers can sometimes be complicated or contain special clauses to protect the buyer. These are just some of the reasons why professional help is recommended.

Many title companies will give you lots of help for the asking. A lawyer is an additional expense, but when you're not paying a six percent commission you can afford it.

Make sure your buyer is financially qualified

Work with your title company and/or attorney to ensure your buyer is pre-approved for the mortgage? If the buyer is not as sophisticated and isn't sure where to begin in obtaining financing, this is where it helps to have the working relationship with the mortgage broker we previously advised. The mortgage broker will get your buyer pre-approved, pick one that will do it for free, and will discuss their financing options with them. Before long they'll be on the fast track towards satisfying whatever financing requirements your professional help advised you to set forth in the Purchase and Sale agreement.

Step 6. Home inspections

Almost all buyers are going to expect a house inspection before they purchase your house. A house inspection is a standard contingency in almost all purchase and sale agreements - but you can feel confident. After all, you took our advice and made all major and minor repairs before we got to this step in the game...didn't you? Let's hope so. This is why it's very important to take these steps in order.

Under a general inspection you are obligated to make major repairs to appliances, plumbing, septic, electrical and heating systems - or the buyer may cancel the offer. The inspection will also include your property's roof. There will usually also be a termite inspection.

Step 7. Mortgage Appraisal and Title Search...we're almost there!

The buyer's lender will conduct an appraisal of your home. They want to ensure they are not lending the buyer more money than the home is worth. They will also order a title search to determine your ability to deliever a free and clear title. This will expose any liens or judgments which may be levied against your property.

At this point the process is usually moving with its own momentum. These items are the buyers obligation. All you need to do is keep checking in with the title company, following up to ensure the ball is continually rolling along.

Before you get to the closing table , you should notify your lender that you'll be paying off your mortgage. You will usually need to get a payoff amount from them. The title company and/or attorney will usually be able to help you with this. After a closing date has been agreed to, it's time to contact your utility providers and tell them you're moving. Give them the date you'll want service shut off and arrange for a final bill.

One of the last actions will be a "final walk-through" of your property by the buyer. This will occur on the day of the closing. This is so the buyer can ensure all agreed-upon repairs have been completed and that the home is in the same, or better, condition as when they made the initial offer.

The closing day will usually arrive 30 to 45 days after you've both signed the Purchase and Sales. In Florida, you'll be closing with a title company. At the closing, lots of paper will be signed, all money will be collected, all existing loans or liens will be paid, the deed will be transferred, and insurance will be issued insuring a free and clear title. The home seller will usually receive the check from the sale of their home from the title company within one or two business days.

This step-by-step home selling guide is a general overview of the process of selling a home. Each closing process happens a little bit differently depending upon the unique circumstances and people involved.

Selling a home "For Sale By Owner" requires a commitment, but it's usually easier than you expect and the financial rewards are great. Here at FindMyFSBO.com, we'll try to make the process selling your own home as pain-free as possible.

FindMyFSBO.com The Southwest Florida FSBO Experts.