Once you’ve put your home up for sale by owner and a buyer is ready to purchase your home, you’re on your way to saving big bucks. Since your keeping the agent fee’s, spending on advertising, staging and house inspection fees are almost a requirement-unless you’re a good salesperson. Check out what you need to know to sell your home without a realtor-and still make bank.
Whether or not a buyer has an agent, negotiations must begin when a purchaser decides they want to make an offer on the home. You may or not have to pay an agent fee depending upon the buyer. If the buyer doesn’t have an agent, you will need to write up a purchase contract. After that, you can begin negotiating a price either directly to the representing agent or the buyer(s). Negotiations also include who’s going to foot the bill(s) for closing costs.
Show me the money was a catch phrase for a few years back and it certainly can be applied here. Finding out who has the money is going to be a great concern. Is it coming from a lender or out of pocket? A prequlified lender can give you access to funds placed in an escrow account prior to the sale, showing the money is good. An out of pocket deal requires an earnest money deposit.
This aspect of home buying should be done by the seller and therefore many times is paid by the seller-unless you’re a good salesperson. If the buyer opts for a home inspection (which they probably will) then opting to pay for the home inspection will work for you in two ways. One: you might get the buyer interested. Two: you get to choose the home inspector(s).
After prices have been matched, closing costs have been set and buyer and seller are happy, it’s just a matter closing the deal. Offering to obtain and pay for a home warranty plan can help you save closing costs, home inspection costs or other hidden home selling expenses. Negotiation is key for price and closing.