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Selling your home
     As you already know, selling your own home can save you thousands of dollars in real estate commission charges. With more and more potential home buyers turning to the Internet to find their dream home, selling your home has suddenly become a lot easier with FSBOWI.com.

We have noticed home sellers listed on FSBOWI.com that have experienced early success are (1) installing a FSBOWI.com "For Sale By Owner" real estate yard sign, (2) having open houses on a Sunday afternoons and (3) advertising in the real estate section of a local newspaper.

     The following paragraphs will help you get started in selling your own home. You can find further information at your local library or bookstore. There also are many attorneys that specialize in real estate transactions readily available to assist you in selling your home. Check your Yellow Pages for a list of local Real Estate Attorneys and Appraisers.

     Determine Proper List Price

     One of the most important decisions you must make in order to sell your own home is determining the list price for your property. There are 3 basic ways for you to go about determining the appropriate list price for your home.

  1. Ask a Real Estate Agent.

         Many real estate agents will routinely provide a complete market appraisal or comparative market analysis of your home based on current market conditions at no cost or obligation. The real estate agents will provide this service in hope that you will consider using them if you eventually decide not to sell your own home and instead decide to list your home with a real estate broker.

         Be aware that some real estate agents have been known to inflate their estimate of the value of your home in the hope you will list with them if you decide not to sell your home. Also be aware that some real estate agents may continually contact you in an attempt to obtain your listing.

  2. Determine List Price Yourself.

         To determine the appropriate list price for your home, you will need to locate homes in your immediate area that are comparable to your home that are for sale or have recently sold. Local title insurance companies can help you determine homes in your neighborhood that have recently sold. The following items should be considered when determining which properties are comparable to your own.

    • Physical characteristics of the property - number of bedrooms and bathrooms, size of home (square feet), age, condition, lot size and shape.
    • Location - relative to desirable and undesirable community features and view from property.


         Your local library or bookstore should have books that provide greater detail and worksheets on how to determine the market value for your home.

  3. Hire an Appraiser

     Obviously, you can hire a real estate appraiser to determine the fair market value of your home. Check your Yellow Pages for a list of local real estate appraisers. The cost of an appraiser is typically between $200 and $300.

     Prepare Your Property for Sale

     Obvious problems with the home should probably be repaired if the necessary improvements can be made at a reasonable costs. Typically, expensive improvements to the home will not yield an adequate return on your investment. Some possible improvements to the home that may be cost effective are:

  1. Interior walls in need of repainting should be repainted in a neutral color. You may want to consider replacing dark panel walls with a lighter color.
  2. Remove unnecessary items from each room in the house. This can give the appearance that your house is bigger. For example, remove small appliances from the kitchen and clothes and storage from the closets.
  3. Be sure to replace any burned out light bulbs. You may also want to put higher watt light bulbs in darker areas of the house such as closes and basements.
  4. Any old carpeting should typically be replaced with a moderate quality carpet that is a neutral color and pattern.
  5. Remove items from your attic, basement and garage. This may require renting off-site storage space for things you do not want to throw away.
  6. Some landscaping that makes the property look more attractive or reduces yard maintenance may also be cost-effective.


     Marketing Your Property

      Your home is worth what someone is willing to pay. Developing significant interest in your home will help to maximize the price someone is willing to pay for your home. The primary tools available to you in marketing your home are (1) installing a "For Sale By Owner" sign in front of your home and (2) advertising in real estate section of the Sunday newspaper. Open houses can also be helpful in marketing your home.

"For Sale By Owner" Sign

      A professional-looking real estate sign is one of the most effective means of advertising your home. Signs usually work best when they suggest quality and care. FSBOWI.com provides a professional real estate sign that includes your own phone number and your unique FSBOWI.com listing number.



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