Posted by: kgreenrealestate | September 21, 2010

FSBO/for sale by owner

Ok, so Mr & Mrs Seller decide that they need or want to sell their residence, on their own without the assistance of a Realtor or Real estate agency. Of course, I am biased on the subject, but I would like to point out, also, that there are many steps along the way of the process.

Exposure, pricing and “curb appeal”(Inside and out) all are important in the beginning and during the length of getting a contract on the home. After this “obtaining contract” step has been achieved, this starts the process of,more importantly, getting it to the Closing table. Inspection by a Licensed Inspector becomes the next time line step along with Mr or Mrs Buyer applying for his/her Mortgage. Negotiating, between Buyer & Seller, can occur if the Inspector finds deficiency in the structure or mechanics of the property. This can result in $ out of the Seller’s pocket either in a credit or the responsibility of repairing of requested items found.

Mortgage Commitment is the following timely step in the process. This is obtained usually, within 45 days of acceptance(providing all falls in place)  of a contract between Buyer and Seller. Once Commitment is achieved, then a (music to all ears) Clear to Close, is next step just prior to time and date set for the actual Closing on the property.

There are, many little things, of course, that occur along the way,but this is a general overview of the process, which can be finalized, usually in 50-60 days from contract acceptance. I respect a home owner that wants to experience this process. I would also strongly recommend the services of a Good Realtor, because of the organization, negotiating, knowledge, etc., to assist with the process. Most times then not, it makes the experience a lot less stressful, and time-consuming to the Seller!


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