Monday, April 3, 2017
Buying and Selling
Is it possible to sell your house yourself? It is possible, but that doesn’t mean it’s a good idea. So what are the downfalls of trying to sell it yourself? Here are some things to think about:
- How will you determine the list price?
- Do you have strong negotiation skills?
- How will you qualify potential buyers?
- Are you going to make yourself available to show your home to fit a buyer’s schedule (for example during regular business hours and every weekend)?
- Will you make someone available to show your home when you can’t?
- How will you deal with any negative criticism you might receive?
- How will you market your home?
- How comfortable are you with the legalities of selling your home?
- Have you taken out an extra insurance policy while selling your home?
- How much will your lawyer charge to review documents during negotiations?
- Have you thought about all the questions a buyer will ask that you won’t, and probably shouldn’t, want to answer?
- If you are successful in receiving an offer, how will you handle the buyer who makes an offer and then backs out? What about the deposit money?
- Will you do a credit check, and if so, are you aware of the cost?
Most homeowners who choose to sell their own home do so to save money. There are two points to consider, however. It is important to note that most homes that are sold privately are actually sold by a real estate agent, which reduces the money saved. Also, studies show that homes sold privately typically sell for less money than if listed with a real estate agent.
Whatever route you choose, do your homework and be prepared for what lies ahead.
When you’re ready to buy or sell in the Burlington or Oakville area, or for general real estate advice, please contact me. I can help!