Selling your own home without a real estate agent can seem like an appealing option, but there are various threats homeowners need to be aware of and protect themselves against. Familiarize yourself with the necessary steps to protect yourself while selling your own home.
With the housing market heating up in many parts of the U.S., many homeowners are growing increasingly confident. Some homes are selling faster and for more money, leading many to believe that they can do it themselves without assistance. However, there are reasons that many choose not to risk it. Having the best real estate agent can make a world of difference when selling a property.
So what do you need to know and how can you navigate the pitfalls of selling your own home?
The first priority ought to be concern for personal safety. Before letting a train of complete strangers into your home for showings, make sure you pre-qualify them. Ask for ID, secure valuables and delicate information such as passwords and bank statements.
While many of the bad apples were driven out of the business or locked up several years ago, there are opportunists posing as professionals and home buyers that will try to con homeowners out of ownership of their homes. Make sure real estate closings are handled through a real title company or attorney and don’t sign over deeds without payment.
When selling your own home, you’ll no doubt be pitched to both list your home or pay a commission for bringing you a qualified and willing buyer. There are many great Realtors out there, but there are those that are new and ill equipped to help you well. So while you may benefit from entertaining offers from them, make sure you read the fine print and look them up.
Some greedy buyers will also drag out the real estate closing process and try to manipulate sellers by demanding additional repairs or changes in terms. If justified, you may find it better to re-negotiate in some scenarios. However, don’t be bullied into giving better terms after a contract is inked.
Of course, the best way to avoid all of this may be to find a professional, established real estate investment firm that can pay cash for your home in its current condition and close in just a matter of a few days.
