Thinking about using an FSBO listing? Before you jump into the for sale by owner (FSBO) waters, it’s important to understand how the costs of this method of listing a home can cut deeply into your time and money. We’ll cover what you should know about using an FSBO listing to sell your house in Long Island
While many homeowners undertake this difficult task on their own believing they will save thousands on commissions, more often than not they learn too late that this is not the case.
When you list your home, it is likely that you’ll still be working with a real estate agent representing a buyer. This means you will still be paying commissions, which is important to know about using an FSBO listing to sell your house in Long Island.
Setting the right price can mean the difference between a quick sale and your home lingering on the market. If you want to be certain you are on point, you should hire a professional appraiser who will compare your property to those nearest, which have sold recently. You may also wish to enlist the services of a real estate attorney to draft your contract. Advertising in today’s real estate marketplace means using professional photography, virtual tours, and staging the home, all of which can be expensive. All of these expenses are important details that you should know about using an FSBO listing to sell your house in Long Island.
Another thing you should know about using an FSBO listing to sell your house in Long Island is that buyers will almost always order an inspection of the property. If they find something wrong with the property structure, they may require you to fix it out of pocket before the property closes.
Are you available to show your house with 24-hour notice, or less? Ready for the phone to ring at all hours, often the calls are from pushy and eager buyers agents. Scheduling showings and making certain your home is always ready for walkthroughs can be extremely stressful and cut into important family time. Making certain you meet any pending deadlines for your transaction can also bring added pressure. The paperwork takes time as well, it’s important to be aware that all of these time-eating responsibilities come along with using an FSBO listing to sell your house in Long Island
Buyers using traditional financing can waste your time by failing to qualify for their loan after going through all of the previous steps in a real estate transaction, this is another problem with using an FSBO listing to sell your house in Long Island. Your buyer could have unexpected life changes or a change in their credit score or debt ratio since being prequalified. One thing you can do about it is to only work with preapproved or cash only buyers. Remember, try not to be insulted when working with cash only buyers, they’ll be expecting to pay less for your home due to the advantages that closing a deal in cash brings.
Using an FSBO listing to sell your house in Long Island can be expensive and time-consuming. How long are you willing to wait? CoMax Properties typically closes within 30 days or less, By selling directly to CoMax Properties, you won’t pay any commissions or other fees, what we offer is what you are paid at closing. CoMax Properties saves you both time and money, we usually purchase homes as-is so you can avoid paying for repairs before closing You won’t have to worry about marketing costs or the headaches of showings. We make it easy! Just send us a message or call (516) 704-7025 today!