How to Sell Your Home Without an Agent
Listing and selling your home on your own can be financially rewarding. It Does however come with a great deal of work. If you are willing to put in the effort, you can sell your home successfully without a real estate agent and save thousands in commission. Just follow these 10 steps and you should be able to sell your home successfully on your own.
Step 1: List Your Home
So you have decided to list and sell your home without an agent. This can be both exciting and scary at the same time. Before you list, you will want to make sure you price your home correctly.
- Perform a market analysis to determine how much your home is worth and what you should list your home for.
- Develop a marketing strategy to best capitalize on the sale of your home.
- Once you have determined your sale price, you can start to prepare your listing.
- Create a free account on Zillow to list For Sale by Owner.
Step 2: Prepare Your Listing Documents & Disclosures
There are several documents required to be completed before marketing your property including the “Seller’s Property Disclosures”. For a free list of these documents, please reach out to one of our reps at BlueMatch directly.
- Each state has different document requirements. Research which documents are required in your state before your listing goes live.
- Prepare these documents ahead of time. This can save you time and headache down the road.
- Have the documents ready in digital format so you can easily send them to an agent when they request them.
- Make sure the information is up to date and correct.
Step 3: Prepare Your Photography, Showings, & Marketing
Now that you are ready to list your home yourself, you’ll want to put together a strong marketing plan.
- Hire a professional photographer to take photos of your home so it’s presented in the best possible way and attracts buyers immediately.
- Plan your preferred times for showings and create a marketing plan.
- Create a plan that include listing your property on all consumer facing sites available to you, putting up a sign in your yard so people can find your home, and printing any helpful material to hand out to potential buyers.
Step 4: Hire a Title Company
Find good options for a Title Company and ensure they have all the necessary documents throughout the transaction. They will provide a commitment to offer “Title Insurance” upon closing the sale. Most title companies are underwritten by the same industry underwriters.
- Make sure you find a company that is a good fit for you.
- Make sure the locating where the closing will take place is convenient for you.
- You will also want to shop around for the best rates. When listing and selling your home yourself, title companies may charge you additional fees.
- Request a title policy estimate from each of the companies you decide to shop.
Step 5: Getting Your Offer
You have received an offer! Congrats, you are finally at the halfway point of selling your home on your own.
- Receive, review and accept an offer.
- A Buyer’s Agent prepares a “Contract to Buy and Sell” and presents this to you.
- Review the offers and understand the different legal clauses, including the pros and cons of your offer, so you can make the best decision for your situation.
- Consider seeking legal help when reviewing an offer. Using sites like Avvo or UpCounsel is a great way to find affordable legal help.
Step 6: Preparing and Sending Over Your Property Disclosures
This is sent to the Buyer’s Agent and Buyer for review and signing.
- These document discloses any known issues that you have with your house.
- Send over other state required documents to the buyer and their agent.
- Create a calendar of important dates and deadlines.
Step 7: The Day of Inspection
The Buyer will hire a licensed inspector to perform a complete inspection of the property and typically submits an “Inspection Objection”, should they find any issues. You will then need to negotiate a mutually acceptable resolution for both buyers and sellers.
- If there is an inspection objection, make sure you respond before the inspection objection deadline.
- Have a plan as to what you are willing to offer in concessions.
- If you are not willing to offer any concessions, let the buyer and agent know as soon as possible.
- Make any necessary repairs that you agreed to make in a timely manner.
Step 8: Handling Appraisal
The Buyer’s lender will hire an independent Appraiser to perform an appraisal of the property for the loan. You will need to work with the lender and the Appraiser to ensure we support their processes.
- If the appraisal comes back lower than the sale price, you will have to negotiate the appraisal gap.
- The buyer can choose not to cover the appraisal gap so create a plan ahead of time for this scenario.
- If the appraisal comes back high or at the sale price, then all is good.
Step 9: Loan Approval
When the Buyer’s loan is approved, you will set up the “Closing Meeting” or “Closing Date” where all parties come together to sign the documents and finalize the sale of your property. This will usually take place at the title office that you chose back in step 4.
- Make sure the closing day and time work well for you. Avoid scheduling conflicts.
- Have a list of all deadlines and create a calendar so you won’t miss any important dates.
- Plan your route to the title office to ensure you arrive on time for your closing.
- Determine how you would like to receive the proceeds of your home and inform the title company.
Step 10: Closing on Your Home
You will attend the “Closing Meeting” and work with the Title Company, Buyer’s Lender, and Buyer’s Agent to ensure you receive the proceeds of your home, all documents are signed and your legal obligations are taken care of.
- Prepare to spend an hour or more signing and reviewing your final contract.
- Double check to ensure that your final settlement numbers are correct.
- Make sure to bring the keys to your home and garage door openers for the new owners.
- Sign all fo your docs and collect your money!
If you used these steps and had success in selling your home, we would love to hear about your story. If you decide that maybe selling your home on your own isn’t for you, we would love to help. In todays real estate market, saving significant amounts of money is always ideal.