Sell Your Home FSBO without a Real Estate Agent & Save Money
Top 10 Tips on Selling Your Home ‘For Sale by Owner’
With a standard real estate agent commission of 6%, you might consider selling your property FSBO (pronounced fizz-bo), which is when the owner markets the property themselves thus saving thousands in the process. At a 6% rate, you’d lose $12,000 of profit by contracting with a realtor on a $200,000 house.
The video above explains how you can sell your house yourself without using a real estate agent. If you wish to really be aggressive, if you own your house free and clear, you can even become the bank and finance the property and enjoy not only the price of the house, but also the interest.
So, up front, you save 6% by selling the property yourself, then, you earn the principle + interest if you become an owner will carry or owner financed property.
There is a sizeable percentage of home buyers that have had a calamity in their life a few years ago which ruined their credit, but they are highly motivated and productive people to get their life back on track. If you will finance the property, you can gain great benefits.
If you sell and carry the note on the property, just make sure you protect yourself in case the buyers do not pay. Consult with a real estate lawyer on the best ways to protect yourself. Typically, if you are carrying a note and mortgage for the buyer, then you’ll have to foreclose.
A faster way is to have a neutral party hold the deed in lieu of foreclosure, which can save a lot of time. If the buyer stops paying, the house is still in your name and you can file the deed back to your name.
We are not real estate lawyers or licensed financial advisors, so consult with a licensed professional before making a decision.