Selling a Home as FSBO – What Else Do You Need to Know?

In the previous article, we talked about the many things you need to consider when selling your home as a FSBO. The list includes taxes on home value, marketing, contract, mortgage, and real estate. Today’s article will lay out other important things like name, checks, and buyer’s qualifications.

Buyer Qualification: You need to be sure that the buyer you are dealing with is able to buy the home at your asking price. To determine this, you can request a pre-approval letter from the buyer from the credit or mortgage company from which the home loan was obtained. You also need to know what type of loan the buyer applied for.

House inspection: Within a specified period, buyers can request a professional home inspection. This is necessary in order for the house you are selling to be in good condition. It should identify repairs, fixes, and other improvements that need to be made. Based on the results, the buyer can request which fixes and improvements he or she wants to implement. And as a seller, you have to agree with that. At this stage, you should also be aware that the buyer has the right to negotiate, terminate the contract and ask for his deposit if his requests are not satisfied.

Title: Apart from the contract, the title deed is another important document that you need to prepare when selling your home as an FSBO. It will reflect the transfer of ownership from you to a buyer who will agree to your selling price. To make things easier for you, signing a title company contract saves you the time-consuming task of preparing a document. In addition, the company’s professionals have all the knowledge and experience necessary to create a real and legal title for your home.

A successful FSBO relies on the ability and knowledge of the home owner-seller of the important things and processes. Having outlined three more important plus five other things in the previous article, you can somehow assume that you will be successful in your own endeavor with the FSB.

On the other hand, if you want to get rid of the associated tasks and sell your home faster, you can always turn to your local real estate agent for help. His experience and professional connections will be vital in finding the right buyer for the home you are selling.

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