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For Sale By Owner
Selling as a for sale by owner in Indiana without listing on the MLS can be very difficult. Most by owner's end up listing with a real estate agent. Without the MLS, it's difficult to market your property. We feel listing on the MLS for a flat fee is the best way to sell a property. Find the best flat fee companies.
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Indiana For Sale By Owner
How to Do FSBO
Remember, FSBO isn’t like selling lemonade—it’s practically a full-time job. From all the work involved in getting a house on the market, showing your home, getting buyers prequalified, doing the contract (the buyers will not what they are doing, so you will need to do their work) and getting into the contract stage all the way to closing day, there’s a lot to do before and after the sale.
Here are some things you’ll need to do on your own if you do FSBO:
- Price your home competitively. Remember, pricing your home wrong could scare away buyers or make you miss out on tens of thousands of dollars! If you worked with a real estate agent instead of doing FSBO, your agent would have data to compare your home to similar homes that recently sold in your area—so you could price it right from the start.
- Stage your home for buyers. Okay, your next step will be to decide if you need to make any improvements to your home before putting it on the market. And you’ll want to do some home staging to make it more appealing online and for viewings. Again, an agent’s advice here would help you know what other buyers expect of a home in your area.
- Find buyers and handle showings. To find buyers for your house, you’ll want to post photographs and virtual tour videos online. You’ll also need to arrange for home showings. This would be a lot easier if you worked with an agent who has access to a network of other agents and contacts of buyers who are actively searching for a home. An agent would also arrange and supervise viewings and open house events on your behalf, which would allow you to go to work and avoid taking days off.
- Pick a legit offer and negotiate price. Next, you’ll want to pick an offer from a buyer who has a mortgage preapproval letter to avoid problems down the road. Then you’ll need to negotiate the price (this part can go back and forth). The deal could end up hanging on the results of a home inspection—which means you might need to decide between making some repairs or settling for a lower price. Trust us, when you’re negotiating a deal this big, you want a pro on your side who has done it many times before.
- Manage paperwork and boring legal stuff. If you do FSBO, that means you won’t have an agent to keep track of all the paperwork or someone to let you know when things are due or missing. You’ll be responsible for getting the purchase agreement or contract drawn up with all the specifics you and the buyer agree upon at the start of the deal.
Bottom line: Hire the best flat fee MLS broker. With this option you can still sell by owner and be listed with an agent at the same time.