Is Selling Your House By Owner Worth It – This copy is for your personal, non-commercial use only. To order presentation-ready copies of Toronto Star content for distribution to colleagues, clients or customers, or to inquire about permissions/licensing, please visit: www.TorontoStarReprints.com
Every time I write about why you should use a real estate agent to sell your house, the mail pours in. I’m sure it will happen this week as well.
Is Selling Your House By Owner Worth It
I am a real estate lawyer and write courses and teach the players in the industry how to do their work in a more professional and ethical way. I also believe that in many cases you will be more protected and make more money selling your home if you use an agent. Not always, but in many cases.
Pros And Cons Of Selling Without A Real Estate Agent
You don’t have to pay upfront: DIY marketing companies are not real estate agents. You typically pay $1,000 to $2,000 upfront, for photos, videos, and to have your home listed on the MLS system. However, you don’t get any money back if your home Not Sold With a real estate agent, if your home doesn’t sell, you pay nothing, even though the agent may have spent a lot of time marketing and using all of his and his company’s contacts to sell your home.
A standing war is unlikely: bidding wars are the norm in the GTA and other parts of Ontario. In almost all cases, the house is sold by a real estate agent. The reason is that it takes experience to price the house correctly. Second, the process is fair because no one knows what anyone else is offering. With a private seller, there is no obligation of confidentiality, so the seller can tell the buyer One bids another buyer. The buyers don’t trust the process so there is no bidding war.
You negotiate on your own: When you do it yourself, it’s hard to know what a fair price is for your home. You may have to pay an appraiser to find out. When a buyer hears you’re saving on commission, they’ll want to split the savings. So you don’t get all the savings in fees and you also have to negotiate with a buyer who is probably represented by a real estate agent. That agent will use all his experience to figure out how low you will go, while not giving anything away about his buyer.
Not knowing your obligations: Sellers cannot rely on the term “buyer beware”. You need to expose problems with your home and you can’t hide or cover anything up. Otherwise, you can still be sued after closing. Who wants a court battle long after you pass?
Do You Need A Real Estate Agent To Sell Your House?
Lenders are more careful when they see a private deal: I’ve seen deals collapse like this. In one case, the lender sent their own appraiser because they were concerned the buyer had paid too much money. The appraiser agreed and the buyer’s commitment to the loan was cancelled. The deal is dead.
In another case, the seller was concerned that the buyers did not have adequate financing. They wanted more proof of the buyer’s financial situation than the buyer was willing to give. Lawyers became involved when things could not be settled amicably. When buyers are represented by agents, they are usually pre-qualified, so the seller can take comfort in having the money available to close the deal on time.
When you’re out for a walk this weekend, look at the for sale signs and see how many are represented by realtors. There is a reason for that.
:max_bytes(150000):strip_icc()/GettyImages-1091921974-a96d17c033f24f1481fe9ca47e1fd353.jpg?strip=all "Is Selling Your House By Owner Worth It")
By all means, try to sell your house yourself, just be aware that it is not as easy as it seems.
Easy Repairs To Make If You’re Trying To Sell Your House
Anyone can read conversations, but to contribute, you must have a registered Torstar account. If you don’t have a Torstar account yet, you can create one now (it’s free)
Conversations are the opinions of our readers and subject to the code of conduct. The Star does not support these views.
Copyright owned or licensed by Toronto Star Newspapers Limited. All rights reserved. Publication or distribution of this content is expressly prohibited without the prior written consent of Toronto Star Newspapers Limited and/or its licensors. To order copies of Toronto Star articles, please visit: www.TorontoStarReprints.com The material contained in this article is provided for general information purposes only and does not constitute professional advice. LANDMARK HOME WARRANTIES MAKE NO WARRANTY AS TO ITS ORIGIN. to this material, and you should conduct your own research and/or seek the advice of appropriately qualified professionals with respect to your particular circumstances before taking action. Warranty LANDMARK HOME ASSUMES NO RESPONSIBILITY, AND SPECIFICALLY DISCLAIMS ALL WARRANTIES, FOR YOUR USE OF ANY INFORMATION AND ANY INFORMATION CONTAINED IN THIS DOCUMENT.
The moment you put your home on the market is both exciting and nerve-wracking. Although you have to focus on so many different things throughout the home buying and selling process, there is often one concern in the back of every seller’s mind: Will I be able to sell my home for what it’s worth…or more? Use these easy fixes to sell your home for even more money than it’s worth!
Avoid These Mistakes When Selling Your Home
(These data were accurate as of the time of writing these lines in 2014. Some of the links have been updated as of 2018.)
One of the best ways to make your home sell for more money (and quickly!) is to declutter, clean and stage the space. A dirty and messy house will feel small and will make the buyer wonder how much money they will have to spend to prepare the house for moving. By spending about $200 to clean and tidy up the space, you can increase your selling price by $1,500 to $2,000. Remove your personal belongings from the house, remove items from your closets so they are about 2/3 empty, and organize drawers and closets. Put the odds and ends in small groups of three, and place extra decorations to add space to your home. You will want to neutralize the design, colors and spaces of your home. This allows buyers to visualize themselves and their belongings in the home instead of feeling like they are trespassing on someone else’s home.
The lighter your home is, the more open it feels. By making a few lighting upgrades worth between $200-$300, you can increase the resale value of your home by $1,000-$1,500. Be sure to use the right type of lighting for the different rooms in your home. High wattage bulbs can make a tight space look bigger while softer lighting makes an empty space feel smaller. Changing the lighting in your home doesn’t have to be about the bulbs either. Remove heavy curtains and shades to open up your windows and let the home’s natural light inside. If you don’t have a lot of natural light coming in from your windows, consider adding a skylight or solar tube to save electricity and have a more natural feel to the room.
Putting a fresh coat of paint on your home can increase the price of your home by $1,500 to $2,000. Repainting your home and getting rid of any rips, scratches and scuffs will help stage your rooms and make them look brighter and lighter. . When choosing a color, go for a clean white or light neutral color. Lighter colors will open up the room, while darker colors will make the room feel smaller. Painting in neutral tones will allow the buyer to create their own space in their mind’s eye as they tour your home. Not every prospect will like the same color scheme as you, and an unappealing color may seem like a lot of work and money to a potential buyer.
Ways To Sell Your Home For More Money
A study by the Service Contract Industry Council found that listed homes that include a home warranty stay on the market for less time and sell for more money than homes without a home warranty. Homes with home warranty plans sold 11 days faster and $2,300 more than homes that did not include a home warranty plan. In a press release, SCIC CEO Tim Minnen said, “Buying a home is a significant investment and can create tremendous anxiety. Fortunately, because a home warranty can be transferred to the new owner, buyers are finding that the added protection of a home warranty service contract] can alleviate this concern.”
Purchasing a home warranty for a home listed on the market means additional protection for home systems and appliances, and peace of mind for the new buyer. That peace of mind that buyers feel with a home warranty plan included can end up paying off big for a home seller!
Just like how you want to make a great first impression with the new people you meet, you want your home to make a great first impression when a potential buyer pulls up to your curb. This is known in the real estate industry as “curb appeal.” Even if your home isn’t the newest or most updated, a great curb appeal can increase your home’s value. Here are some things you can do that will get you a great return on your investment, and
Selling house as is by owner, is selling your house to zillow worth it, selling your house for sale by owner, selling my house by owner, selling your home as is by owner, selling a home as is by owner, selling your house by owner, tips for selling your house by owner, selling house by owner, selling condo by owner, steps to selling your house by owner, selling a house by owner vs realtor
