I know a handful of people who have VERY successfully sold their homes on their own. They were unwilling or unable to pay a real estate agent thousands in commission for their efforts. While I do believe that using an agent is very important for sellers who are inexperienced or who may find they are already underwater on their loan, some people really can do it on their own.
However, selling your house alone can be fraught with surprises and challenges. For example, most states require a homeowner to fill out a property condition disclosure form whether they sell alone or use a company to market the property. This helps provide increased consumer protection for the buyer, but also protects the seller against accusations of nondisclosure. “You didn’t tell me that water invades the basement during heavy rains!” for example.
Making sure buyers are qualified is a challenge for anyone, but could be especially difficult for owners selling on their own. Negotiating, home inspections, closing costs…. it can all be challenging.
If you do decide to opt for a selling strategy on your own, be sure to do your homework ahead of time. Be willing to work with agents who bring clients (perhaps their commission could be added to the purchase price and paid out at closing). And be patient. It may take awhile.
Add to:
