Thinking About Selling
Thinking about selling my primary residence. The neighborhood is only four years old. My house is two years old. Im wondering if I should try to do a FSBO or do a lease purchase on the property??? If I do a FSBO how can I get the house listed in the MLS system? And are there any legal ramifications I should look out for when selling myself with no realtor?
I'm working on this same thing with my current home. Best of luck to you!
The last time I sold my primary residence (and my husband's old house), I did it FSBO, and had no problems. I'm sure I was a bit lucky, but both the deals were with a buyer doing a conventional loan, and there wasn't anything creative about the sale - straight sales, no seller carryback or lease/options. I simply had a contract with all the desired clauses (inspection, financing, etc.), and we all agreed on a title company to prepare and record the closing documents.
This time around, I'm looking at lease/optioning or doing a contract for deed. The folks here have had lots of good advice for me thus far - creative ways to get a decent amount of cash on close, even if I owner finance (through a note broker), etc.
I'm new to investing, so my only advice is to make sure that your contracts are as tight as you can make them - and make SURE you do all your numbers, including worst-case scenarios, on paper.
Since you want to get your property into the MLS, I assume you'd be willing to pay a commission to the broker who brings the buyer to your property. See what you can negotiate with a local broker who's a member of the MLS. If it's a sellers' market in your area, that should help you find someone to do this for you for a reduced fee.