Key Steps In The Virginia FBSO Process
- Date: 2006-12-07 - Word Count: 462
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In the home selling process, there are certain steps that should be taken to ensure a timely sale of the home. When you work with a real estate agent, this person will guide you through the process and telling you the steps to take as they arise. However, when you sell your Virginia home using the for sale by owner method, there is a no real estate agent to guide you through the process. Instead, you are responsible for taking the necessary steps at the right time.
Preparing your home for the sell is the first step you should take when you are selling your Virginia home without a real estate agent. If you've ever heard the expression "Presentation is everything" then you realize the impact of preparing your home, both inside and out, for prospective viewers.
Pricing your home is the next important step. Too often homeowners arbitrarily price their homes based on a notion of the home's appreciated value. Receiving an offer on a home priced in this manner is like playing a game of slots - you might get an offer, but then again, you might not. You should price your home based on the price of similar homes in your area that have recently sold. This is the surest way to make get offers on your home.
While it is not required, a real estate lawyer will be beneficial in your transaction. Hiring a lawyer ensures that your interests are protected throughout the for sale by owner process. Don't worry about the cost as you will get a better deal paying a real estate lawyer than you would paying commission to a real estate agent.
Marketing your Virginia home for sale is perhaps the most difficult of the steps. Getting the word out about your home takes time and effort on your part. Several methods exist for advertising your home. Some of the more traditional methods such as placing a sign in the yard and advertising in the local newspaper and home magazines will suffice for exposing your home. Consider also placing your home on a for sale by owner website to increase the number of prospective buyers that are exposed to your home.
Once you have begun showing your home to prospective buyers, it won't be long before you begin receiving offers. When you receive an offer, you should review it with your real estate lawyer. In most cases, you have three days in which to cancel or amend the offer. After that time the offer becomes legal and binding. When you are reviewing an offer pay attention to the terms and conditions included as well as the purchase price offered.
The last step in the process is the closing. This is usually 30 - 45 days after the sales contract has been signed.
Preparing your home for the sell is the first step you should take when you are selling your Virginia home without a real estate agent. If you've ever heard the expression "Presentation is everything" then you realize the impact of preparing your home, both inside and out, for prospective viewers.
Pricing your home is the next important step. Too often homeowners arbitrarily price their homes based on a notion of the home's appreciated value. Receiving an offer on a home priced in this manner is like playing a game of slots - you might get an offer, but then again, you might not. You should price your home based on the price of similar homes in your area that have recently sold. This is the surest way to make get offers on your home.
While it is not required, a real estate lawyer will be beneficial in your transaction. Hiring a lawyer ensures that your interests are protected throughout the for sale by owner process. Don't worry about the cost as you will get a better deal paying a real estate lawyer than you would paying commission to a real estate agent.
Marketing your Virginia home for sale is perhaps the most difficult of the steps. Getting the word out about your home takes time and effort on your part. Several methods exist for advertising your home. Some of the more traditional methods such as placing a sign in the yard and advertising in the local newspaper and home magazines will suffice for exposing your home. Consider also placing your home on a for sale by owner website to increase the number of prospective buyers that are exposed to your home.
Once you have begun showing your home to prospective buyers, it won't be long before you begin receiving offers. When you receive an offer, you should review it with your real estate lawyer. In most cases, you have three days in which to cancel or amend the offer. After that time the offer becomes legal and binding. When you are reviewing an offer pay attention to the terms and conditions included as well as the purchase price offered.
The last step in the process is the closing. This is usually 30 - 45 days after the sales contract has been signed.
Related Tags: loan, real estate, home, house, fsbo, virginia
Fruzsina Csery is a freelance copy writer. She occasionally writes for Bank of America Credit Cards
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