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  • Will You Add? - Selling Your Home: Top 5 Reasons FSBO's Don't Sell

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    ng negotiations” and you start your home at 152k

    As a homebuyer, the most I can spend is 145k. Although your home is what I’m looking for, you’re outside my price range so I won’t even bother to look at your house.

    That’s just one examp

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    As a home inspector, I get to see many mistakes by people selling their home without a real estate agent, commonly referred to as FSBO’s or For Sale By Owner. If you do your homework and research and have some financial sense, you can probably sell your own home. However, I see many people who fail when going this route.

    Here’s why:

    1. Pricing The Home Too High: Seems everyone thinks they live in a goldmine. The common misconception is that they will price it high so they can come down a little bit during negotiations. This has several problems related to it.

    Here’s one. Many homebuyers are on a budget. Let’s say I’m looking for a home like yours in your neighborhood and most of the homes there that are comparable are in the 135k to 145k ranges. However, you have tile floors and stainless steel sinks along with a few other cosmetic improvements. You think your home is worth at least 147k. Tack on a few thousand more “so you can come off of the price during negotiations” and you start your home at 152k

    As a homebuyer, the most I can spend is 145k. Although your home is what I’m looking for, you’re outside my price range so I won’t even bother to look at your house.

    That’s just one exampl

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    your own home. However, I see many people who fail when going this route.

    Here’s why:

    1. Pricing The Home Too High: Seems everyone thinks they live in a goldmine. The common misconception is that they will price it high so they can come down a little bit during negotiations. This has several problems related to it.

    Here’s one. Many homebuyers are on a budget. Let’s say I’m looking for a home like yours in your neighborhood and most of the homes there that are comparable are in the 135k to 145k ranges. However, you have tile floors and stainless steel sinks along with a few other cosmetic improvements. You think your home is worth at least 147k. Tack on a few thousand more “so you can come off of the price during negotiations” and you start your home at 152k

    As a homebuyer, the most I can spend is 145k. Although your home is what I’m looking for, you’re outside my price range so I won’t even bother to look at your house.

    That’s just one examp

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    an come down a little bit during negotiations. This has several problems related to it.

    Here’s one. Many homebuyers are on a budget. Let’s say I’m looking for a home like yours in your neighborhood and most of the homes there that are comparable are in the 135k to 145k ranges. However, you have tile floors and stainless steel sinks along with a few other cosmetic improvements. You think your home is worth at least 147k. Tack on a few thousand more “so you can come off of the price during negotiations” and you start your home at 152k

    As a homebuyer, the most I can spend is 145k. Although your home is what I’m looking for, you’re outside my price range so I won’t even bother to look at your house.

    That’s just one examp

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    ble are in the 135k to 145k ranges. However, you have tile floors and stainless steel sinks along with a few other cosmetic improvements. You think your home is worth at least 147k. Tack on a few thousand more “so you can come off of the price during negotiations” and you start your home at 152k

    As a homebuyer, the most I can spend is 145k. Although your home is what I’m looking for, you’re outside my price range so I won’t even bother to look at your house.

    That’s just one examp

    The State of Short Sales Today
    With foreclosures on the rise, negotiating short sales is a prime investment strategy you as a savvy real estate investor must master. In order to do so, you need to understand the state of short sales today.Loose lending practices by the banks over the last several years allowed people to buy houses with no money down or to borrow more than their homes were worth. Now these same people can’t afford to pay their mortgages. Conse
    ng negotiations” and you start your home at 152k

    As a homebuyer, the most I can spend is 145k. Although your home is what I’m looking for, you’re outside my price range so I won’t even bother to look at your house.

    That’s just one example of how a too high price is going to hurt you. There are many, many more!

    2. Letting Emotions Direct Your Actions: Many times this is the reason your home is priced too high. Remember, this is a business transaction. You have a product to sell, you need act accordingly.

    3. Failing to Get Your Home Inspected Before Listing: I’ve seen FSBO’s go to great trouble and expense to get their home ready to sell only to find out from the potential Buyers Inspector that there are major structural, plumbing, electrical or mechanical issues with the home.

    Depending on the severity of the problems, this probably cost you a Buyer and it means your home will be sitting on the market for a few more weeks or months.

    National survey’s reveal that homes that have had pre-inspections sell faster with less hassle at closing. FSBO’s are no different.

    4. Being a Jerk: I see this one more than you’d think. For some reason selling your home by yourself s

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