For Sale By Owner (FSBO)
Selling a home is a really big deal for most of us. It's a large investment of both time and money. It may be where we raised our children, or even where we grew up. There's a lot of money at stake and, more than that, it's a personal and often emotional experience. To make matters worse, it's a complicated, invasive, and risky experience if done wrong.
This site is meant to provide you with some important items to consider when choosing to sell your home on your own (FSBO). You should know, there is more to selling a home than putting a sign up in the yard and waiting. We will discuss some of those below and provide you with as much information as we can to help you make the right decision for you.
There are three basic factors to consider when making any business decision (and make no mistake, selling a home is a business decision). These are Profit, Cost, and Risk. Each are discussed below, as they relate to selling a house on your own (a.k.a. FSBO)
In short, FSBO is a bad idea, right? Not so fast . . .
That’s absolutely true if your house is truly move-in-ready AND you can wait 3 to 6 months to get your money. In that case, FSBO is just going to cost you money, waste your time, and open you up to liability. Call a professional agent NOW! 770-406-6977
HOWEVER, if your house needs repairs you can’t, or simply don’t want to make, OR if you need to sell your house fast (under 30 days), we recommend selling it on your own, but NOT to a Retail Buyer.
Retail Buyers require loans, will put you through a rigorous inspection and due diligence period, and will, generally, take a long time to close. Additionally, they will have a buyer’s agent and you’ll have to pay at least 3% commission to their agent. That’s still a lot of money!
Instead, sell to a Home Buyer. Home Buyers are investors who buy property for a variety of reasons and purposes. Home Buyers generally:
Close in less than 30 days
Buy As-IS, requiring no costly repairs or upgrades
Do NOT charge any commissions or fees
Cover all closing costs
Offer Fair Market Value (see our blog entry “Understanding Fair Market Value”)
CAN offer alternative purchasing options which may be more advantages (i.e. give you more than Fair Market Value – call us today for details.)
At the end of the day, choosing between an agent and FSBO is a matter of how long you have to sell your home, its condition at the time of sale, and how painful you want the process to be. Here is a quick summary:
Call an agent if you have a Pretty House and 6 to 9 months. Professional real estate agents are remarkably well suited to sell your home, especially to a Retail Buyer. Never underestimate the effort and expertise required to sell your home.
Sell on your own (FSBO) if you have a Pretty House and lots of time to waste. However, you’ll likely end up back with an Agent because of the high liability and incredible inconvenience. Besides, you’ll ultimately pay most if not all of the commissions anyway. 90% of FSBO sellers eventually turn back to agents. If you do decide to sell on your own, check out some great tips for getting the most money.
Call a House Buyer if you simply can’t (or won’t) wait for your money, regardless of whether you’re selling a Pretty or Ugly House. House Buyers like TEG Home Buyers can get you your money in 30 days or less.
We hope we've been able to help you with this very important decision. Feel free to contact us if you have further questions. At The Eisenhauer Group, we are both Georgia Licensed Real Estate Sales Agents AND Professional House Buyers. Regardless of your decision, contact us today to find out how we can best help you sell FAST and Easy!
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If you’d like to list your home, contact us for a FREE, no-obligation Competitive Marketing Analysis (CMA) with a fair market value pricing recommendation. We guarantee to sell your house fast.
Will and Won't. FSBO . . .
...WILL NOT save you money,
...it WON'T save you time,
...it WILL open you up to the risk; both legal and physical
...you WILL have to do all of the marketing, showings, and open houses,
...and, there's a 90% chance you'll hire an agent anyway.