FSBO: What You Need to Prepare For
As mentioned in a recently published blog titled “5 Reasons You Should Hire a Professional When Selling Your Home,” FSBO is advertised as a great way to save you thousands of dollars when selling your home. Although this may sound wonderful, all the money you could possibly save may not outweigh the time you will spend managing the whole sales process. Even worse, you can’t guarantee a close!
The following is a list of parties of whom the seller must be prepared to talk and negotiate with when deciding to FSBO:
- The buyer who wants the best deal possible
- The buyer’s agent who solely represents the best interest of the buyer
- The buyer’s attorney (in some parts of the country)
- The home inspection companies, which work for the buyer and will almost always find some problems with the house.
- The termite company if there are challenges
- The buyer’s lender if the structure of the mortgage requires the sellers’ participation
- The appraiser if there is a question of value
- The title company if there are challenges with certificates of occupancy (CO) or other permits
- The town or municipality if you need to get the COs permits mentioned above
- The buyer’s buyer in case there are challenges on the house your buyer is selling
- Your bank in the case of a short sale
That’s a long list, right? Do you think you can handle this?