For Sale by Owner

Before you consider selling your property yourself, ask yourself if you are going to have the time needed to sell your property - even if you just cover the basics.  Wouldn't you feel more comfortable leaving all of these tasks to the experts?!

The Basics

  • Complete an extensive research of local market conditions, including:
    • the listing and selling price of all comparable properties in your area for the last six months,
    • the listing price of properties currently on the market, and
    • the listing prices of properties that were on the market but did not sell.
      Tips: Begin your research on the Internet. Follow-up by visiting the county tax records office to determine the selling prices of houses.

  • Put together a marketing plan.
    • How will you market your property to Realtors? Most buyers use a Realtor, so marketing to Realtors is essential. 
    • How much money can you afford to devote to advertising? Call the local newspapers to determine how much it will cost for advertisements. You'll want to run daily and Sunday ads in the newspapers.
    • Who will create your sales flyers? Buyers expect fact sheets to take with them when they drive-by or tour a property for sale.
    • Where will you place signage? In addition to your front yard, are there areas leading in to your neighborhood where signage would be appropriate?
    • How will potential buyers find information about your property on the Internet? You'll want potential buyers who begin their property shopping on the Internet to find your property. Be sure to build a website to help sell your property.
    • Who will take inquiry calls and schedule appointments? You'll want someone to be available to answer inquiry calls and schedule appointments. Be sure to schedule showings as quickly as possible - even the same day.
      Tips: Ask newspapers for a discounted advertising rate for multiple placements. Be sure to check with local officials to determine if there are any restrictions on where you place signs.
    • Pre-qualify buyers before showing your property.  It is wise to require a letter from the lender which approves the buyer. 

  • Confirm that the potential buyer has pre-qualified for a mortgage loan.
    • If the buyer is buying with cash, confirm that they have the necessary resources.
    • If the purchase is contingent on the buyer selling their own property, confirm that the buyer's property is on the market. (You may also want to determine how long the buyer's property has been on the market.)

  • Negotiations, Contracts and Closings
    • Are you prepared to negotiate the contract?
    • Do you know what the legal responsibilities of the seller are in your area?
    • Who will write the contract? Will you need to hire an attorney? If so, what will be the attorney's fees?
      Tips: In addition to the sales contract, North Carolina law requires a residential property disclosure in some cases, a lead-based paint disclosure.

Let Us Do The Work For You - We're the Professionals!

 

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Giggey Real Estate

103 Charlotte Ave., Unit 100
Carolina Beach, NC 28428