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Watch Outs

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When you sell by owner, there are a few “watch out” situations that you should be alert to.  Doing so can save you time, money, and headaches.
 

1. Under pricing your Property
   Don’t lower your price simply because you’re not paying a commission. When you sell by owner, the idea is to save money, not pass the savings along to the buyer. If you have prepared adequately, the transaction should go just as smooth as if you had used the services of a Real Estate Agent.
   
   

2. Unqualified Buyers
   If someone makes an offer on your property, ask if they have been pre-qualified for a loan. If they haven’t, don’t take your home off the market until you see a pre-qualification letter from a bona fide lending institution. Don’t hesitate to have them speak with your loan officer. If they hesitate or are unwilling to speak with your loan officer, they may be wasting your time.
   
   

3. Advertising during slow months
   Poor timing. October through January are slow months for real estate sales. If you start to advertise during these slow months, you could waste a lot of money. March through August tend to be better months for selling a home, with the summertime being the best.
   
   

4. Dangers when Showing your Home

   • Never allow anyone into your home that arrives without an appointment.

   • Never tell a caller when you will or won’t be home.

   • Get the first and last name of all callers, and a return telephone number.

   • Hide all valuables, and consider moving jewelry to a safe deposit box.

   • Never allow anyone into your home if you’re alone.

   • Instruct your children on how to handle calls (i.e. never tell anyone that you’re not home, etc.)

   • Be extremely leery of anyone that comes to your home that claims to represent a Real Estate Company, or other business. Only talk to such individuals if an appointment has been arranged and their identity has been verified.