Selling home online & "for sale by owner"..any experience?

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2005-10-03 8:59 AM

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Elite Veteran
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Subject: Selling home online & "for sale by owner"..any experience?
Friends, does anyone have any experience with selling a home online? My parents are looking to sell their home sans realtor. I'd appreciate any advice or guidance.

2005-10-03 10:20 AM
in reply to: #258109

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Giver
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Subject: RE: Selling home online & "for sale by owner"..any experience?

Nope but I've thought about it. If you haven't seen it, e-bay has a pretty expansive tutorial about it (which I would link to if we weren't having the 'net issues we are right now).

trilover - 2005-10-03 8:59 AM Friends, does anyone have any experience with selling a home online? My parents are looking to sell their home sans realtor. I'd appreciate any advice or guidance.

2005-10-03 12:53 PM
in reply to: #258109

Elite
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Subject: RE: Selling home online & "for sale by owner"..any experience?
My realtor steered me clear of any "for sale by owner" or "help-u-sell" properties. My brother in law had the same experience with his realtor. From what my realtor said, the seller is often not fully prepared to do all the work necessary to sell a house. Honestly I think they don't want to help cut their brethren out of the process. Why do they want to sell online?

2005-10-03 12:55 PM
in reply to: #258371

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Subject: RE: Selling home online & "for sale by owner"..any experience?
Hey Chucky,

They don't want to eat the 6% commission. I'm a bit concerned of the necessary paperwork involved. I have NO experience with real estate so I'm hoping to recieve some feedback.
2005-10-03 12:57 PM
in reply to: #258371

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Giver
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Subject: RE: Selling home online & "for sale by owner"..any experience?
ChuckyFinster - 2005-10-03 12:53 PMMy realtor steered me clear of any "for sale by owner" or "help-u-sell" properties.

Yeah, I'm sure they did. Cause that way they don't make any money. I wouldn't base a decision based on advice from someone who has a vested interest in the subject they are giving advice about.

2005-10-03 1:32 PM
in reply to: #258374

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Expert
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Subject: RE: Selling home online & "for sale by owner"..any experience?
When I moved to Maryland from Montreal in 1999 we bought our house from a "for sell by owner."  When we moved back in 2002 we sold our house ourselves.  Again why eat the 6%.  We got a contract drawn -up by a  local Title company.  Approx $300. The closing on the house was done by the title company and I think the buyer paid the costs. I could look -up the itemized balance sheet and find out if you like. There was nothing an agent could do for us that we could'nt do ourselves. The title company provided us with all the requied standard forms and documents regarding lead paint, surveys etc. All the forms were standard with the State of Maryland Realstate Board.   Our total out of pocked costs were approx.  $300 stated above and about $50 for a sign and stand from HD.


2005-10-03 1:36 PM
in reply to: #258109

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Master
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Subject: RE: Selling home online & "for sale by owner"..any experience?
My mother is a realtor and I can say from listening to her that the only advantage to having a realtor is the "lock box" advantage and not having to be on hand for all the showings. Friends of mine sold their home themselves and the title company handled all the paper work after they had a signed contract and security deposit. All they had to do then was coordinate with the buyer the inspection dates and show up for the closing. All in all they had a very easy time and it saved them the 6% - or $16,000 to put it in better perspective.

One bit of advice if they go it alone: always have 2 people in the house while showing it. A fraud was being done here in Houston: a couple would show up to view the home. One person would claim they were unable to climb the steps so they would remain downstairs while everyone else was upstairs. In the meantime, the downstair person would go thru things gathering info to steal the owners identity. So, make sure you have someone to remain downstairs while showings are going on.

2005-10-03 1:36 PM
in reply to: #258374

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Northern Va/Metro D.C.
Subject: RE: Selling home online & "for sale by owner"..any experience?
run4yrlif - 2005-10-03 12:57 PM

ChuckyFinster - 2005-10-03 12:53 PMMy realtor steered me clear of any "for sale by owner" or "help-u-sell" properties.

Yeah, I'm sure they did. Cause that way they don't make any money. I wouldn't base a decision based on advice from someone who has a vested interest in the subject they are giving advice about.



True, Run.
2005-10-03 1:37 PM
in reply to: #258410

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Elite Veteran
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Northern Va/Metro D.C.
Subject: RE: Selling home online & "for sale by owner"..any experience?
houston-tri-mamma - 2005-10-03 1:36 PM

My mother is a realtor and I can say from listening to her that the only advantage to having a realtor is the "lock box" advantage and not having to be on hand for all the showings. Friends of mine sold their home themselves and the title company handled all the paper work after they had a signed contract and security deposit. All they had to do then was coordinate with the buyer the inspection dates and show up for the closing. All in all they had a very easy time and it saved them the 6% - or $16,000 to put it in better perspective.

One bit of advice if they go it alone: always have 2 people in the house while showing it. A fraud was being done here in Houston: a couple would show up to view the home. One person would claim they were unable to climb the steps so they would remain downstairs while everyone else was upstairs. In the meantime, the downstair person would go thru things gathering info to steal the owners identity. So, make sure you have someone to remain downstairs while showings are going on.



Thanks Solo & Houston.

That's such a great idea, Houston. My parents actually fell victim to identity theft after thieves went through the neighborhood's mailboxes stealing information.
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