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10 Costly Traps to Avoid if you are For Sale By Owner in Jacksonville FL

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10 Costly Traps to Avoid if you are For Sale By Owner in Jacksonville FL Powered By Docstoc
					March 25th, 2013                                                                                        Published by: Sandy Neumann




Jacksonville Real Estate
                                                                   2.)    “Can’t afford to pay a Realtor.”
  Are you looking for tips for selling your home on                At the very least, it is highly recommended that you advertise
  your own? Well, here’s one you article you must                  that you will pay a co-op fee to a buyer’s agent. Common
  read! These are the top 10 traps we commonly see                 commission offered by a For Sale by Owner in Jacksonville FL
  sellers fall into when they decide to go For Sale By             is 2.5-3.0% of the sale price to the buyer’s agent. You greatly
  Owner in Jacksonville FL. Carefully review this list             reduce your odds of selling if you eliminate the thousands of
  and you'll be on your way to selling your home on                Jacksonville agents who each have a database of hundreds of
  your own, without a real estate agent.                           buyers actively searching for a home in Jacksonville.


10 Costly Traps to Avoid if                                        3.)    “I don’t need any help.”
you are For Sale By Owner                                          A wise For Sale by Owner in Jacksonville FL should consult an
                                                                   attorney, a title insurance provider, a surveyor, the property
in Jacksonville FL | Chad &                                        appraiser, the buyer’s mortgage lender or banking institution,
Sandy's Blog | Jacksonville FL                                     the buyer’s agent (if applicable), the buyer’s appraiser, and the
                                                                   buyer’s inspector at a minimum. There are often other entities
Real Estate                                                        involved depending on the type of sale. However, be certain
Are you listing your house For Sale by Owner in Jacksonville       that you have protected yourself from any potential future
FL?Good for you! Selling a home on your own requires a lot of      lawsuits. Don’t be fooled—even the best buyers, even friends
courage, patience, skill and hard work. As entrepreneurs, we       and family, will assume a different “role” during a transaction.
naturally applaud go-getters and Do-It-Yourselfers.                It becomes business, not friendship, and each must look out
                                                                   for his or her own interests. Don’t let your famous last words
                                                                   be “that would never happen to me.” Trust me.


                                                                   4.)    “There’s nobody home.”
                                                                   Access to your home can be an inconvenience at best and
                                                                   a safety concern as well, so make sure you have a well-
                                                                   thought plan for managing showing requests in a friendly but
That’s why we’ve put together a Top 10 list of things you should   cautious manner. Purchase a digital lockbox from the local
avoid in order to have the very best chance to sell your home      Realtor Association Board. Locally, you can visit the Northeast
quickly as a For Sale by Owner in Jacksonville FL!                 Florida Association of Realtors (NEFAR) on Southside Blvd
                                                                   near the Avenue’s Mall. You may even be able to rent one.
                                                                   (Try Craigslist to get one from a former Realtor who no
                                                                   longer needs it.) Electronic lockboxes require a digital scanner
                                                                   that only authorized active licensed Realtors who are current
Avoid these traps if you are For Sale                              board members can access. Further, the scanner immediately
By Owner in Jacksonville FL                                        alerts the owner of the lockbox with the complete contact
                                                                   information of the person who is entering, along with the date
1.)    “No one knows it’s for sale.”                               and time of the access. You can even set the lockbox to only
If your buyer traffic has been limited to drive-bys and nosy       work during certain hours.
neighbors, you’ve got a costly problem on your hands. Selling
is quite often a numbers game; greater exposure brings
                                                                    Scheduling Tip: Keep in mind that appraisers and
greater chance for success. Any serious For Sale by Owner in
                                                                    inspectors usually do not have lockbox keys and
Jacksonville FL must invest time, money and skill into a solid
                                                                    will require you to accompany them during their
marketing plan.
                                                                    appointments.

 Here’s a tip: don’t just think on one ‘playing field.’
 Your competition is playing on several: web, print                5.)    “It’s NOT a good time!”
 ads, blogging, video, Craigslist, facebook, direct mail,          Showing requests will (I repeat, “WILL”) come at all the
 email marketing, and likely many others.                          worst possible times. Dinner time. Saturday morning. Friday
                                                                   evening. Sunday morning. Just as you sit down to eat or put the

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March 25th, 2013                                                                                            Published by: Sandy Neumann

kids in the bath tub, or put the pancakes on the griddle you may      eye on local trends. You don’t want to leave money on the
be interrupted by a visitor. While you can always say ‘no’ you        table!
greatly limit your home’s exposure when you eliminate all of
the times that a buyer is most likely to be available. Oftentimes
they are in town for a short time and don’t plan ahead. Or they
weren’t even looking for your house and saw it as they drove
by. Perhaps a Realtor was showing them another home and
didn’t see yours on MLS so they didn’t have the opportunity
to schedule an appointment with advance notice. It’s difficult
and stressful, but the sooner you sell the sooner it ends! And
check out these tips for getting your house in order.                 7.)    “Don’t ask, don’t tell!”
                                                                      By far the greatest and most common danger of being a For
                                                                      Sale by Owner in Jacksonville FL is disclosure. Failure to
Warning: Do not use these words in your                               properly disclose the condition and history of your home can
flyers if you are a For Sale by Owner in                              result in a lengthy and very costly lawsuit even after (especially
Jacksonville, FL!!                                                    after) the close of your sale. Imagine having to pay for repairs
                                                                      on a home you no longer own or live it. It happens all the
                                                                      time. State laws require different levels of disclosure, so be
(Pay particular attention to the first half of this video. It’s the   sure to get a hold of the proper forms, and if you have a
best advertising advice I could find for a For Sale By Owner          choice, choose the ones that disclose the most information. It
in Jacksonville FL because the tips about words that sell–and         may seem contrary, but the more information you report the
don’t sell–apply directly to our market. The content is from          less liable you could be. Remember, the buyer must sign the
a real estate authority news site. It was recorded a few years        disclosures, too, agreeing that they are aware of the potential
ago,so the market information at the end is not accurate, but         problems but agree to assume responsibility. The same is true
you’ll see that the advice is golden!)                                of a home inspection report. Insist that your buyer perform
                                                                      an inspection with a licensed inspector or sign a waiver if they
                                                                      do not. A For Sale by Owner in Jacksonville FL cannot be too
                                                                      cautious.




6.)    “I’ll set the price.”
In actuality, the market (not the mortgage) will dictate the
sale price. So calculate all your costs ahead of time, solicit
several sources for your market analysis and start by selecting
a range of prices you would consider. The lowest price would
be your emergency rock-bottom price if you had to sell in
a matter of weeks. The high price would represent the best
price you think you could get (without scaring off too much
of your prospective market.) Note that the amount you owe
is not considered in the pricing exercise. It is irrelevant. The
only thing that matters is recent sales of very similar homes.
You safest bet? Fork up $300-400 for a professional survey.
If your buyer’s lender performs an appraisal that comes in
below your agreed-upon sales price, the contract is usually           8.)    “There are plenty of legal contracts
considered void and the buyer is free to walk. Most lenders           on the Internet.”
will not finance a home above the current (within 30 days)
                                                                      If your buyer is not represented by a local Jacksonville real
appraised value. But remember, not all For Sale by Owners in
                                                                      estate agent (who has a state-approved legal contract) then you
Jacksonville FL are guilty of over-pricing. Many actually price
                                                                      must hire an attorney to ensure that you fully protect yourself
too low…sometimes up to 20-30%. It’s important to keep an
                                                                      and adhere to local and state laws.

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March 25th, 2013                                                                                         Published by: Sandy Neumann

                                                                      PS

9.)      “The buyer’s agent agreed to                                 Need help constructing your your marketing plan? Ask us
                                                                      about our flat-fee (or FREE!) options for a qualified For Sale
facilitate both sides as a Transaction                                By Owner in Jacksonville FL!
Broker.”
Even if you do use the contract provided by the buyer’s
agent, you cannot expect the buyer’s agent to manage your
deadlines. Read your agreements and addendums carefully.
Some terms are written in fine print, others might be hand
written or typed. Some things to look for: inspection, survey,
and lender approval deadlines; who is responsible to pay
for title insurance, how much (and which) repairs you are
required to make prior to closing, and which repairs are typical
or required and which repairs can be negotiated. There are
certain conditions your home must meet unless you are selling
the home in “As-Is” condition, which can result in a much
lower sales price. Do not make the mistake of assuming your
buyer’s agent will be willing or able to manage your deadlines
in addition to their own, and without bias.


                                                                      Chad & Sandy Neumann
10.) “I’m running out of time.”
                                                                      Neumann Realty Corp.
If a For Sale by Owner in Jacksonville FL fails to hit the market
with an aggressive plan, he will forfeit the best possible selling    www.NRCJax.com
scenario—those first two weeks when the home is fresh and             904.219.7539
new to the market! This is by far the time of highest traffic,
and the most optimum time for a strong offer. Many people
assume that they can “test the waters” to see if they can do
it themselves or get the price they really want, only to find
themselves with an “aged” listing at the end of their moving
time frame when they most need the sale. At this point it is
often too late to expect even the best realtor to get a quick
sale, as it is difficult to hide the history of a property listing.
Savvy buyers and agents all know when a home has been on
the market for a while, and they will expect a deep discount
because of it.




Use this list of “10 Costly Traps” to help you construct
a winning plan to be a successful For Sale by Owner in
Jacksonville FL. If you follow all of these tips, you can sell your
home without having to hire a Jacksonville real estate agent.
It’s not easy to be a For Sale by Owner in Jacksonville FL, but it
is certainly within your reach. Be a wise and savvy seller from
the start, and you’ll be moving on to your next dream home in
no time!




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DOCUMENT INFO
Description: Are you looking for tips for selling your home on your own? Well, here’s one you article you must read! These are the top 10 traps we commonly see sellers fall into when they decide to go For Sale By Owner in Jacksonville FL. Carefully review this list and you'll be on your way to selling your home on your own, without a real estate agent.