In this wonderful Sellers Market we are having, I see lots of homeowners trying to sell their properties on their own. We call you fabulous and motived home sellers FSBO’s (For Sale By Owners).
You may or may not realize, but Realtors help each other sell one another's properties. So, I wanted to give all you FSBO's the same courtesy. I have put together a few tips that I hope will help you sell you home and stay safe.
1. To keep you safe, before you show your property to complete strangers, have them to email you a lender pre qualification letter or a bank letter stating they have funds to close. To get a home loan, they have to disclose who they are, where they live and where they work to a lender. It is a bit of a safety screening for you. Also, you know that they are more serious about buying your home if they have already taken a step in that direction.
2. To keep you our of court disclose what stays and what doesn't. In Tennessee, there is a State Law that Home Sellers, that have been living in the home must disclose certain details like HOS's and things about the home’s condition. To start, make a list of the items that stay with the property like outbuildings and appliances. And if you know of any defects about the property, I would recommend that you disclose those too!
3. To keep your contract from falling thru, know what type of loan your home qualifies for, or more importantly, doesn’t qualify for. This can cause a major hiccup in getting your property closed if you have sold it to someone getting a government backed loan, like VA, FHA or Rural Development. Government backed loans have appraisers report a check list of things they consider possible hazards or repairs. Know what those are before you go under contract with a buyer that is getting a government backed loan.
For more information about getting your home sold, in the least amount of time and for the most amount of money, contact me, Kelly Davis at First Realty Co. 931-528-1573