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For Sale by Owner

April 9, 2021

Guiding New Jersey Clients Through for Sale by Owner Transactions

Selling a home can be a complicated matter. People usually retain the services of a real estate agent to ease them through the process. With the rise of resources like the Internet, more people are avoiding the cost of a realtor and taking on the major task of selling their own home. There was a time when a realtor was needed to sell a home in most cases. They could list the house and attract buyers through a network of contacts. Now, people are taking it upon themselves to list their homes on the internet and going through the process alone at a fraction of the cost. If you want to sell your home without the services of a realtor, you must be willing to act as your own agent. You will be responsible for the marketing, salesmanship, and the time and effort it takes to successfully sell a home. It is imperative that you consult with an attorney at every step of the process. Selling a home is a complex and document-heavy course that needs detail-oriented legal support to ensure that every requirement is met. In addition, you need proper representation to protect your rights and advocate on behalf of your interests.

Is a FSBO Transaction Right for You?

Conducting a “for sale by owner” transaction is not an easy undertaking. There are some things you will need to consider when proceeding.

Set a fair price: You should know the real estate market. You may have an emotional tie to your home. You may have rehabilitated your house. Just because you believe that your home is worth a certain amount, it doesn’t mean that others do. It is best to explore the market in your area and come to a reasonable assessment of your home’s value.

Know how to market your home: You have many resources available to you. With the power of the Internet and curb appeal, you could sell your home in no time. Buy a sign for your curb that has all of your information available. Use the many websites available on the Internet that focus on FSBO transaction. One of the most popular ones is called owners.com, the largest registry of FSBO homes in America. If you are going to sell your home “as is”, your potential buyers will want to know that right away. Do not scare off any potential buyers by withholding information.

Get ready to deal with realtors: Though you didn’t hire a realtor or agent doesn’t mean that potential buyers haven’t. You need to be prepared to deal with people who have been in the business for years. Some realtors believe that they can use the FSBO to their advantage because you are so inexperienced. Be ready to negotiate the price of the house and the fees of the realtor.

Be knowledgeable: You may know a lot about your home but remember, you are taking the place of a realtor. You need to be fully prepared to answer any question someone may pose about the property, contract, or anything else. A lack of knowledge or misinformation is a quick way to scare off potential buyers. In addition, consider the fact that your potential buyers know you are not paying a realtor. Make it clear that you have already considered that when setting a price.

Always have representation: FSBO is a major undertaking. You need representation and legal guidance through every step. Though it may seem simple, real estate transactions are anything but. You can easily be overwhelmed by the process and having knowledgeable and experienced legal support to help you through can be the difference between success and failure.

Contact a Middlesex County Real Estate Agent with FSBO Experience

The process of selling your own home is a complicated process. Don’t let it scare you. Countless people each year successfully sell their homes without a realtor. Others succumb to the pressure and settle on selling their home the traditional way. With the experienced legal support of Juan C. Velasco, Esq. you can sell your home with as little stress to you as possible. If you need quality legal services from an effective real estate attorney, contact Velasco Law Office today.