Often times homeowners consider selling their house privately to avoid paying hefty realtor commissions and making expensive repairs.
CAUTION!!! Before you decide to sell your home yourself, you might want to ask yourself the following questions. You may find this task to be a bit more daunting than you had originally assumed.
The 39 Questions to Ask Yourself Before trying to Sell House Privately
- Do you have all required deeds from previous owners?
- Do you know of all unpaid liens or special assessments due for collection upon sale? Have you checked the assessment and assessor’s records?
- What is the condition of the current title?
- Did you complete our property form?
- Have you considered all factors that would make the property difficult to finance with typical lenders? (Older homes, expansive lots, etc.)
- Have you reviewed existing financing to determine whether it can be assumed? If so, have you contacted the lender to complete the transaction?
- What is your current equity in the property?
- Do you have a real estate lawyer to review all contracts and documentation?
- How familiar are you with the local real estate market?
- Is the property governed by a Home Owner’s Association? If yes, what restrictions and by laws do you need to notify potential buyers of?
- Have you considered the factors what will go in to choosing your asking price, and what amount of negotiation you plan to leave room for?
- Do you understand the difference between pre-qualified and pre-approved?
- Do you know which legal documents to prepare for a home sale and where to find them?
- Have you got a current survey clear of encumbrances?
- Are you prepared to pay for an appraiser?
- Are you prepared to balance offers and counter offers?
- How comfortable are you with allowing strangers to enter and look through your home?
- Do you know where to advertise for the best response?
- Do you know what a Conditional Loan Approval letter is?
- What state disclosure laws apply to you for termite problems, leaky roofs, and whether you are required to reveal ghost tales or crimes linked to the property?
- Are you capable to help a prospective buyer obtain a mortgage?
- Do you understand the differences between fixed, adjustable, or balloon mortgages?
- Can you prequalify a potential buyer?
- What happens if you receive an offer from someone who is unable afford your home?
- Are there building permits for improvements? If not, what next?
- Have you obtained an updated Certificate of Occupancy?
- Do you have a copy of the Lead Paint Disclosure form?
- What closing costs are you required to pay?
- How much will transfer fees be?
- Do any environmental disclosures apply?
- Do you have a CLUE (Comprehensive Loss Underwriting Exchange) report available?
- Is there a contingency clause addendum?
- Do you have a property condition disclosure statement?
- Do you have a legal purchase document and a legal description of the property?
- Does your state carry risks when a seller agrees to “carry back” a note from the buyer?
- Did you realize your good credit rating can be ruined by your buyer’s default if you seller finance?
- Have you heard that a clever buyer could stay in possession of your property for months after defaulting on the contract, and basically live for free off your expense?
- Were you aware that most buyer complaints involve alleged damages of less than $10,000, but it can cost thousands in attorney fees if you choose to defend the claim?
- Are you prepared for the paperwork, documents, legal responsibility, the showings, fees, advertising expenses, the stress, and the headaches?
If you have read through all these questions, you might be feeling somewhat overwhelmed. Maybe selling your home privately is not as easy as you thought. If that’s the case Integrity Homebuyers is here to help. We are ready to provide you a fair cash offer on your house today, no matter it’s condition. We complete get rid of the stress and hassle that comes with selling a house yourself. Take two minutes and call us today at (800) 818-4145 or fill out our simple online form. Learn more about how you can sell your home in days. There is never any obligation or pressure and we guarantee our 100% attention.
Take 30 seconds and get more details on our simple 3 step process now
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