| Each "For Sale By Owner" seller needs to | | | | in the closing cost. Recording fees, |
| set the right home prices. First and | | | | surveyor's fee, attorney fees, title |
| foremost, one must start by figuring the | | | | search, or any other costs parallel with |
| true market value of their home. The | | | | buying or selling a home will be |
| Comparable Market Analysis is a vital | | | | included in these expenses. |
| tool for doing this. This service will | | | | If you decide to accept a buyer that a |
| list houses by address and give details | | | | real estate agent brought to you, you |
| including the square footage of the | | | | will have to pay half of the closing |
| home, the asking price in comparison to | | | | costs, which is approximately between |
| the actual selling price, as well as | | | | three and three and a half percent of |
| the date of the sale. The substructure | | | | the selling price. You can foresee |
| for the true market value of your home | | | | paying six or seven percent of the |
| can only be found here. | | | | selling price, if your home is listed |
| Closely observe the houses of | | | | through a real estate agent . |
| proportionate size and number of rooms. | | | | Since you are selling your own home, the |
| Try to find houses in your neighborhood | | | | most lucrative situation would be for |
| that are listed on the Comparable Market | | | | you to advertise your own home, and get |
| Analysis, for they are ideal for | | | | your own buyer. You will then have no |
| comparison. Consider how the size of | | | | debt to the real estate agents. |
| your lot compares to their lot. | | | | You can abbreviate your costs by placing |
| Moreover, it is important to figure the | | | | detailed instructions in the sales |
| general condition your home and see how | | | | contract as to the maximum amount the |
| it compares to that of the homes listed. | | | | buyer will pay towards his mortgage |
| With all these variables in mind, you | | | | costs and other closing fees. If a real |
| are now able to figure the price of your | | | | estate agent gets involved, the fees |
| home. It is not imperative that your | | | | could be subject to a separate contract |
| price be equal to that of other homes in | | | | with the agent and will not be |
| your neighborhood. | | | | restrained in the sales contract. |
| If this does not seem right for you, the | | | | During the fall and winter, there are |
| less complicated option would be to hire | | | | less buyers in the market for new homes. |
| a real estate appraiser to appraise your | | | | A "For Sale By Owner" seller may be |
| home. He or she will review what homes | | | | forced to abbreviate their home prices |
| in your neighborhood have sold for and | | | | in order to get a buyer. Families with |
| compare them to the status of your home | | | | children in school ordinarilly prefer to |
| in order to figure the appropriate | | | | move during the spring and summer |
| price. | | | | months, when the children are out of |
| Something you need to ponder is the | | | | school. Areas with warm weather can be |
| closing cost. In essence, this is the | | | | exceptions to this trend. In these |
| amount of money that you will receive | | | | areas, buyers generally won't purchase a |
| after the sale. Although they will not | | | | house in the especially hot months and |
| go into the home prices, expenses | | | | will usually wait until spring and fall |
| obtained by the seller will be included | | | | when the weather cools down. |