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The Possible Risks You Face When Selling Your Own Home

Apr 11, 2008
Recently you've may have taken notice to the huge change in how real estate is sold, instead of the traditional method of hiring a real estate agent to sell your home more people are now selling their homes by themselves. Although the benefits are clear when choosing to sell your own home often time's homeowners will neglect to realize and analyze the risks involved with selling your home and believe me there are some definite risks when choosing this route.

The first thing you need to realize when selling your own home is the market in your area. Without properly assessing the market you run the risks of either pricing your home to high or low, but in both scenarios you lose so you need to be careful. Pricing above the market will surely scare off most potential buyers and you'll run the risk of having your house on the market for too long. After usually ninety days a house is considered stale and in some markets you'll find that it becomes stale in less time. The best route to take when pricing your home is to be a bit under the market so that multiple offers happen. You'll notice when you price under the market and receive multiple bids that you will often get more then your full asking price. If you're really stuck when trying to price your homes then ask a few local agents to give you a price and base it off of that.

Making your house appear livable is the next step to successfully selling your home and just as important as pricing the home because if you're decor doesn't fit the tastes of the buyer then usually they'll walk from the deal. To avoid any risks of this nature you should change out stained and dirty carpets will new affordable ones and also paint the walls a fresh neutral color. Doing those two things will drastically help your chances of selling your home in a timely manner.

The final risk you may run into when selling your own home is all the paperwork which can be really confusing. All the contracts and paperwork is legally binding documents which mean there isn't room for any error on your behalf. Typically hiring a lawyer to produce all the paperwork is the ideal choice as then you'll be assured the job is done correctly.

Choosing to sell your own home is a huge commitment and if you're not truly ready for it then I would highly recommend using an agent. You will need to perform open houses, interviews, meetings with lawyers amongst other things all while still trying to maintain your life. This can prove overwhelming for some people and you'll notice it's not something for the weak at heart. You'll need a positive attitude and huge work ethic to be able to pull off selling your house but once you manage too you'll feel great and also get to reap the benefits. You end up saving quite a bit of money by selling your own home but you'll have to value your time accordingly to see if it's feasible for you.
About the Author
Buy a Home FSBO or search free listings of homes for sale by owner over all states of the USA. ( http://www.fsboads.com/ )
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