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Why For Sale By Owner Isn't Worth It
Thursday, 29 June, 2017
Have you ever thought about listing your home as for sale by owner? Before you do, there are some things you need to consider.Selling your Dallas-Fort Worth home? Get a free home value report. Buying a Dallas-Fort Worth home? Get full MLS access here.When you put your home up as a for sale by owner (FSBO) listing, you’re compromising your ability to be aware of certain risks associated with putting a home on the market.Without a professional helping you step by step as you prepare, list, and sell your home, you become vulnerable to scams. Not only that, when you forego the help of a professional who could assist you with things like negotiations, contracting, and paperwork, you could be missing out on getting the best deals possible. If you do, however, decide to do a for sale by owner listing, it would be a good idea to hire a real estate attorney. Before you decide though, I’d like to list just a few of the things that can go wrong with for sale by owner listings. As I mentioned earlier, FSBOs are often targets for scamming. For example, while there is nothing wrong with cash offers, you need to be wary of them in this situation. If you don’t have an agent representing you, be careful of things that may sound too good to be true.“If you don’t have an agent representing you, be careful of things that may sound too good to be true.”The second problem with FSBOs is that, without a Realtor, all of the liabilities become your responsibility. Realtors have insurance to help cover these kinds of liabilities, but most people listing their homes as FSBO do not. Next, keep in mind the amount of paperwork involved in closing a real estate transaction. Not only is this work tedious, but unlike a Realtor, the average person lacks the training to understand some of what is being discussed within this various paperwork. Lastly, a lack of experience with the real estate transaction process can put your deal at risk. Without the same license, expertise, and experience as a real estate professional, it’s very easy to make a mistake that could end up costing the whole deal. So if you’re considering listing your home and would like more information or have any other questions, feel free to give us a call or send us an email. We look forward to hearing from you soon.
