Q:

How do you sell a home by owner?

A:

Quick Answer

A person can sell his home without a Realtor by doing market research, preparing and pricing the home, marketing the home, negotiating offers and making the sale, according to ForSaleByOwner.com. A homeowner must price the house fairly and market it professionally to attract buyers.

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Full Answer

When conducting market research, a seller must be familiar with the selling process and acquire all the relevant documents for the transaction, notes ForSaleByOwner.com. The owner must also enlist the services of a real estate attorney and a title company. A seller must do any necessary repairs and clean the house to attract buyers. Overpricing the home should be avoided as this scares buyers and keeps the home in the market for longer. Instead, the seller should utilize an appraiser to help set the right price for the home.

A seller should utilize online marketing channels, such as Craigslist and websites specializing in facilitating home sales by owners. Other marketing outlets include using a multiple listing service, placing newspaper advertisements and using social networking sites.

On receiving offers, a seller must negotiate with potential buyers for the best price before accepting a final offer. To close the deal, a seller must prepare all the mandatory documents according to state and federal laws. A title company should help finalize the sale and close the process.

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