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Old 05-14-2012, 08:58 AM
 
Location: 89121
413 posts, read 1,424,980 times
Reputation: 336

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First off. You DO NOT have to be a licensed auctioneer to sell YOUR OWN property. I can sell my own property any way I chose so long as I don't discrimminate. You have to have a license to auction for someone else.
Is there anything wrong with instigating a bidding war for something you own. Isn't that what auctions are all about ? If you are willing to pay an agent 6% for slapping it on the MLS and waiting for phone calls, then by all means do it.
Do you run the risk of having the top bidder's deal fall apart, yes but you run that risk with an agent. One of the beneficial parts of this process is that if the top bidder falls thru you have a second bidder. I suspect that the poster who blasted this process could be a real estate agent. My original post is not spam as I have used it to sell my home in Leicester, VT. Google "will be sold Sunday night". See what you get.
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Old 05-14-2012, 09:58 AM
 
Location: Winter Springs, FL
1,789 posts, read 4,055,759 times
Reputation: 925
jenny1951, Have you looked into using Picket Fence Preview. Picket Fence Preview : For Sale By Owner You don't need to hire an agent and the costs depending on how you want to have the property listed is fairly inexpensive (the site has that information). It might be something to consider for a few months to see what nibbles you might get. The magazine is free just about everywhere and there is a website as well.
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Old 05-14-2012, 10:28 AM
 
Location: Vermont
530 posts, read 1,181,103 times
Reputation: 526
Quote:
Originally Posted by 68vette View Post
jenny1951, Have you looked into using Picket Fence Preview. Picket Fence Preview : For Sale By Owner You don't need to hire an agent and the costs depending on how you want to have the property listed is fairly inexpensive (the site has that information). It might be something to consider for a few months to see what nibbles you might get. The magazine is free just about everywhere and there is a website as well.
Yes indeed I have; in fact, I bought this house from the owner who advertised on Picket Fence! My biggest fear is getting an offer and having nowhere to go, as I would have to time the sale of the house with the availability of the apartment, which can be a few months to over a year. I have decided to wait until an apartment is available, check it out, and if I decide to move then, I will probably seriously market the house. There have been some notable improvements this season in the local market, especially the inventory of small, affordable homes has been significantly reduced, which gives me hope that I may actually get more than I owe if I sit tight for a bit. The other issue I have is whether the rent in Burlington will be the same as quoted last year ($775 includes heat and electricity) or whether it will have gone up substantially by the time an apartment is offered. These are tax credit 55+ apartments, so I am not sure what the rent would actually be. Housing is so tight that without the apartment, it makes no sense to spend money to advertise yet,as I would likely spend much more than my current mortgage to find a comparable apartment that allows a dog and two cats!
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Old 05-14-2012, 12:46 PM
 
161 posts, read 239,577 times
Reputation: 324
Quote:
Originally Posted by NYtoVT View Post
First off. You DO NOT have to be a licensed auctioneer to sell YOUR OWN property. I can sell my own property any way I chose so long as I don't discrimminate. You have to have a license to auction for someone else.
Is there anything wrong with instigating a bidding war for something you own. Isn't that what auctions are all about ? If you are willing to pay an agent 6% for slapping it on the MLS and waiting for phone calls, then by all means do it.
Do you run the risk of having the top bidder's deal fall apart, yes but you run that risk with an agent. One of the beneficial parts of this process is that if the top bidder falls thru you have a second bidder. I suspect that the poster who blasted this process could be a real estate agent. My original post is not spam as I have used it to sell my home in Leicester, VT. Google "will be sold Sunday night". See what you get.
I'm not a real estate agent. God forbid. There are many ways to sell a house, but I object to advertising a house for sale at a price that you know you wouldn't accept; that's just plain dishonest.
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