FSBO property listings (For Sale By Owner) are one option for homeowners in Philadelphia. “Let’s sell it ourselves and save all of those real estate agent commission fees for ourselves!” Sounds great, right? When it comes to FSBO listings, going at it alone isn’t always the right move. The process of selling a home is much harder than it would appear. A 90 percent failure rate involving homeowners looking to sell their own home “for sale by owner” should give you pause, especially with such an important decision. An article written by Tracey Velt of realtrends.com mentions in an article post about why sellers doing FSBO is not the way.
When you’re ready to select the method you’ll use to sell your home, which is likely one of your most significant financial assets, it’s essential to have realistic expectations. Therefore, we will explore five things you should know about Philadelphia FSBO property listings.
Time and Toil
You should know about Philadelphia “for sale by owner” because the process may take a lot of time and hard work. From scheduling appointments with professionals, such as inspectors and appraisers, through open houses and showing the property over and over, you may come to understand why real estate agents earn such high fees for their services.
You should also know that Philadelphia FSBO property listings tend to sell for less than if you had worked with an agent; this is because agents are on top of their game and understand how important it is to screen potential buyers and market the home properly. They also have excellent people skills. Because they aren’t emotionally involved with the house, negotiations tend to have a better outcome. While your actual advertising efforts are critical in the results, so too is how the home presents during the showing.
Repairs are not something you can escape with Philadelphia FSBO property listings. While you may not be aware of disclosure laws, learning this lesson the hard way could land you in legal hot water. Even if you don’t make the repairs, the buyers are likely to counteroffer with extravagant discounts from your asking price for doing the work themselves.
Legalities and Paperwork
Paperwork. Quite often, sellers decide to work with a professional because the thought of doing all of the paperwork is overwhelming. Homeowners with Philadelphia FSBO property listings take on a huge responsibility in making sure every contract and form submitted is legit. Failure on this front could mean a deal falls through and will cost you even more.
You should also know about holding costs and how they can eat away at the profits of Philadelphia FSBO property listings. Sadly, not having realistic expectations about what it takes in today’s market to sell a home could leave the property lingering on the market. You’ll be left with the mortgage payment and all other expenses to keep the property in saleable condition. In addition, even an agent cannot tell you an exact closing date when listing a property on the Philadelphia market.
The most important thing you should know about Philadelphia FSBO property listings is another option. Selling directly to Buying Property 215 is 100 percent successful for sellers. When you work with Buying Property 215 to sell your home, you still get to save the commissions for yourself! In addition, Buying Property 215 pays cash so that the closing can be in a matter of days.
We will go over all of the details of your property and any extenuating circumstances that may be pushing you to sell, helping you determine how much you would profit with a traditional home sale or a direct sale to Buying Property 215. At Buying Property 215, our goal is to help you make the most profit on your most important investment, your home. Feel free to ask Buying Property 215 any questions you may have with no obligations. Send us a message or call Buying Property 215 at 215-359-6090.