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