Paso Robles Real Estate

Ten Steps to Selling Your Home For-Sale-By-Owner in Paso Robles

Paso Robles, like many other cities in the US, is experiencing a fair amount of short sales and foreclosures. Because of this, selling your home For-Sale-By-Owner (FSBO) is even more daunting than it was in the past. Even homes listed by Realtors(R) and Brokers have to abide by these rules as the competition for everyone is the same.

The homes that are currently selling abide by these rules. 50% – 60% of the homes I see listed for sale on the MLS look like model homes. They don’t have to be new or extravagant, but they do need to be clean, all repairs made and hopefully staged to show off their best qualities and amenities.

• Define your goals, wants, needs and expectations. A good place to begin is by exploring your short and long-term goals in life and how selling your home fits in. Also, have an in-depth discussion about how quickly you want or need to sell your home. If time is of the essence, you may want to consider hiring a professional because of all of the knowledge, Internet marketing and networking available to them to get your home sold quickly.
• Determine the best price for what is going on in the market right now. Assess the current state of the market and what comparable homes are selling for in your neighborhood by reviewing a Comparative Market Analysis (CMA) on your home. That way, you can objectively determine its fair market value and price it right. Even if you are planning to try selling your home For-Sale-By-Owner, I would be happy to provide you with a CMA to help you determine fair market value.
• Prepare your home so that it is in pristine condition. Most of us don’t keep our homes looking like model homes. We have busy lives. But think about your home from a buyer’s point of view. Repair, replace broken items and remove clutter so that your home makes a great first impression. Remember, you don’t get a second chance at a first impression. There is a way to live in your home and a way to sell your home. Clean and then clean some more. Paint the walls. Clean the carpets. Remove clutter and possibly furniture to make your home appear larger.
• Visit homes for sale in your area. This will give you an idea of your competition, the condition of the homes you are competing with and help you with pricing. If you would like to visit competing homes for sale in the San Luis Obispo North County area, call me, and I’d be happy to spend an afternoon helping you do just that.
• Implement time-proven, research-based marketing strategies. Market your home to as many people as possible using for sale signs, the Internet, flyer boxes, feedback tracking and web listings.
• Show your home every opportunity you get. Ensure your home is always in top-selling condition, and make your home available on weekends and weekday evenings when buyers are most likely to be looking. We’ve already covered what they say about first impressions!
• Receive an offer. When a buyer decides to put an offer on your home, you will be notified by the buyer(s) or by their agent. If you are not represented by a seller’s agent, then consult with legal counsel.
• Negotiate a sale. Most offers require some level of negotiating. Decide where you are willing to negotiate and be prepared to negotiate a win-win situation for yourself and the buyer(s).
• Allow buyers to conduct all inspections they wish during the 17-day inspection period. Once you have accepted an offer, work with the buyer(s) or buyer(s) agent to coordinate an appraisal and all inspections requested. If the buyer requests that certain conditions be repaired on your home, negotiate them away by way of a credit, make the repairs necessary to keep the buyers happy, or of course, you can refuse, but that might make your buyer look elsewhere.
• Prepare for closing. A few days before closing (also known as settlement), contact the title company and the buyer(s) or buyer(s) agent to ensure that all necessary forms have been prepared and received. Consult with legal counsel if you are not represented by a seller’s agent.
• Close of escrow! After the buyer(s) have signed all loan documents, the loan will fund the next day, and then the following day it will record. After the recordation at the County Clerk’s Office, ownership of the property is legally transferred to the buyer(s).

All done! It can be a daunting task, but you can sell your home For-Sale-By-Owner… If I can be of any assistance to you as a For-Sale-By-Owner, please do contact me. I have free reports available, and I also have a DVD entitled “Selling By Owner, A Complete Guide to Marketing and Selling Your Own Home.” This guide is much more comprehensive than my post here…

“‘About the Video: Selling ‘By Owner:’ Don’t try to sell your own home without watching this video first. It covers the entire process of home selling including Marketing, Selling and Closing. Marketing is the process of identifying and qualifying a prospective purchaser. Selling is face-to-face presentation of benefits and asking for the sale. Closing or escrow is when the financing and legal paperwork are handled to consummate the transaction. An excellent guide for homeowners on the move.” Thank you to David Knox Productions for producing such an in-depth DVD for FSBO homeowners!

My only request is that you either mail or deliver the DVD back to my office after you have reviewed it so I can offer it to other sellers in need of the information. My card is on the back of the DVD for your convenience.

Good luck to you!

If you would like to borrow the DVD or you have any real estate questions or general questions about San Luis Obispo North County, please contact me via email, call me at (805) 235-0234 or visit my website for more information.

It starts with a dream..

Tags: CMA, comparative market analysis, For sale by owner, foreclosures, FSBO, paso robles, San Luis Obispo, short sales