Other Talk "Otterville" plus Religion/Politics

What's involved in selling your own home?

Old 08-20-05, 05:31 PM
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What's involved in selling your own home?

besides for finding a buyer.. what else is involved?

seems like it would be a major hassle
is it worth it, to save the commission?
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Old 08-20-05, 05:37 PM
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twikoff: Search the selling buy owner thread. There's a lot of info on it.

I'm headed out the door otherwise I would help you out and link it.
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Old 08-20-05, 06:02 PM
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don't you mean trailer? aka Alabama Mansion



it can't be any worse than buying a home, just in reverse
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Old 08-20-05, 07:39 PM
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If you don't want to use a realtor, at least don't screw yourself by trying to handle the paperwork yourself. Get an attorney to draw up the contracts. Lots of people do it themselves, and most are fine, but don't cheap yourself into a stupid situation.
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Old 08-20-05, 07:47 PM
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Originally Posted by twikoff
besides for finding a buyer.. what else is involved?

seems like it would be a major hassle
is it worth it, to save the commission?
What's 3%? Is that worth your time, or the risk of turning off buyers who don't want to hassle with working with an "amateur"?

Will you accept any buyers that bring your own agent? (so are we talking 6%)

Will you be spending the $$$ to list the property in the local MLS?
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Old 08-20-05, 08:27 PM
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Take the selling price of your home times .06 and that is the commission you will pay the agent.

Some agents are worth their weight and several times that, and others aren't worth a pound of shit. It really depends on who you get, and how hungry that agent is to sell your home. Also really depends on the condition of your home. I think if your home is in excellent condition, buyers will come to you, versus if the home needed some work, you may need some additional "eyes" to look at it before you find a buyer.

Not sure about your neck of the woods, but there is a self-service MLS system here in Chicago. It's for people that want sell by owner but want to list via MLS. This company charges one flat rate until the home is sold. (Don't quote me on that, but I think that's right). I think the rate is around $500-700. It's not a bad deal because you'll get a TON more people looking at the home.

It also depends on if you have the time to sell your own home. If your new home is under construction, you may have a lot of time to sell it. If your getting a job transfer, I'd think about going down the agent route.

Oh, and like the previous posters have said -- get an attorney. You don't want to fuck up the sale because the proper paperwork wasn't in place. It's well worth the $300-500 they ask for.
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Old 08-20-05, 10:27 PM
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yea.. 6% sounds standard
and Im not really concerned about it.. If we accept the relo with work, commission will be covered as part of the package
we got a steal on our house when we bought it (4 1/2 months ago).. so Im hoping we dont have any problems selling it.. its MUCH larger (just under 2600 square feet) than any other house around here in this price range and only 6-7 years old, and on over an acre of land.

but Ive talked to some people.. and my mom is the kindof person that talks to everyone.. I could see her finding someone even before a realtor

and while commission can be covered by relo.. if we found our own buyer and ended up handling the sell ourself (of course an attorney would do all paperwork), that money could be used elsewhere.

besides.. getting an attorney to handle it just rolls into closing cost anyways..
Its more the realtor's part, that Im wondering if its really worth it (if we happen upon a buyer ourself)
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Old 08-21-05, 06:19 AM
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If you get the buyer and the price, the value of a realtor drops to zero.
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Old 08-21-05, 11:56 AM
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Originally Posted by ChiTownAbs, Inc
If you get the buyer and the price, the value of a realtor drops to zero.
thats what i was looking for
i assumed that after finding the buyer and agreeing on a price.. the attorney & bank pretty much handle the rest.
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