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Old 11-22-2005, 02:20 PM
4_2_it 4_2_it is offline
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Join Date: Jul 2005
Location: Mayor of Simpleton
Posts: 403
Default Re: For Sale By Owner Horror Stories

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I guess the rest you already probably know - it seems like a huge pain in the ass to handle all the paper/legal work on your own.

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The paperwork isn't bad. Just hire a lawyer for about $1,500 to handle the closing (much cheaper than 7% commission).

OP - Your biggest issue is competing with houses listed with realtors in the Mulit-Listing database. Just make sure you post your home in the local newspapers and on the Buy Owner website. Have an Open House on a couple of weekends. Signs and balloons are good. Make sure your yard is nicely landscaped as the first impression from the street is key. Also, bake cookies during the open house. Everyone loves to smell home baked cookies and it makes a positive impression (I have seen this tactic used at model homes for a while and home builders would not do it if it wasn't profitable).

Also, beware of realtors trying to come in for a half-commission to bring you buyers. If you live in a hot area, you are in good shape.
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