FOR SALE BY OWNER(FSBO) - Any success stories out there?

[ocioffer]

Simply put, you can avoid all this by going to a cash home buyer like www.offermecash.com

[MortonR]

Originally Posted by ocioffer

Simply put, you can avoid all this by going to a cash home buyer like www.offermecash.com

True, but in doing so you're going to take a significant hit on the sale proceeds. For instance, I recently had both a market assessment and appraisal performed on a property I own that I am considering selling.

Just for grins, I contacted OfferPad for a quote.

The property was appraised at around $290k, the market assessment was $300k. Based on comps in the neighborhood that have sold recently, the $290k price is pretty much on target.

OfferPad made me an offer of $210k. It was predicated on an inspection by them which, should they find anything they felt needed repairs or improvements, would be deducted from the price. I would add that it's a 20 year old house that has a brand new roof, AC, water heater and floor coverings throughout. The kitchen has been updated as well.

So they essentially offered me 70% of market price, and that's without them going over the property and deciding it needed something done.

I guess if you had plenty of equity in the place it could possibly make sense, but when you're talking about a 30% difference in the proceeds that's not a hit most sellers are willing to take.

RM

[lavender]

As a realtor, who sold my own homes, I took the step of having a professional appraisal done, I use a well known company in Pinellas. I marketed a little above appraisal price and sold for $2.5K less than asking for one and exact appraisal price for other.

Also being a realtor I know the value of making sure that the place looks perfect, (and clean!) and getting photography done and I did have the advantage of being able to list it on the MLS and only having to pay the buyer agent (in the case of one, I didn't have to pay that either as buyers were not represented)

other posters will advise to save money and it is possible to do this and sell without an agent, depends on how confident you are and what you know legally that you must and must not do, and keep things on track, and follow up on lenders/inspections etc etc. But you can google most of this anyway. Offering a commission to a buyer agent I think is important, after all you may lose the opportunity of a sale, unless the offer is too low. You can always refuse an offer if it is too low.