FSBO (For Sale By Owner) listings are one of the ways to explore in Portsmouth. “Let’s sell it ourselves and not pay those real estate agent commission fees!” Sounds great, yes? When it comes to FSBO listings, selling this way is not always the best course of action for a homeowner. It’s not as easy as you think at first sight. Some studies show that there is 90% failure rate for FSBOs trying to sell their own home. This should make you stop and think, especially with such a big decision for your house.
When you are evaluating ways to sell your home, you need to consider all Pros and Cons of each method. Your house is one of your most significant assets, even if you have several of them, even if it’s a rental. We will review 5 things you should know about Portsmouth FSBO property listings.
Lower Offers
First thing you need to know is that FSBO properties sold in Portsmouth will actually sell for less than the ones marketed by real estate agents. Those guys have great people skills and they know their game and how to evaluate homebuyers. The real estate agent is not emotionally involved in your house, so he/she will be with a clearer business mind during the negotiations. Not only agents know how to advertise homes in the best possible way, but they also know the best way to show a home and to advise you on how to prepare it. The business outcome will be better than is you choose FSBO. On the other hand, if you need to sell fast none of this will matter much, it just depends on your situation. If you have to sell quickly, selling to an investor like Coastal Edge Homebuyers may be best for you.
Time and Toil
Another important factor about Portsmouth FSBO property listings is that they will take a lot of prep time and also work. You need to schedule time with appraisers, contractors and others to make sure you cover all the bases and prepare the home for showings to potential buyer. And guess what, you will have to make all the arrangements, all the meetings and stay on top of all repairs, as needed. On the other hand, when working with agents, they know who to call and what to prepare and of course you’ll need to pay them a commission for that. Or, if you want to skip the hassle, you can get a fair and square cash offer on your house without lifting a finger to do any repairs. The professionals at Coastal Edge Homebuyers can help you understand a cash offer, which may be exactly what you need.
Repairs
You just can’t not do any repairs on your house if you want to list it in Portsmouth as FSBO property. Another important point is that you need to be aware of your state’s disclosure laws so you don’t end up in trouble for not disclosing certain facts about your home. Even if you don’t make any repairs, a potential buyer will push you hard to reduce the price significantly, especially for issues that were not properly disclosed in advance. Any buyer will do an inspection and such problems will become evident one way or another, so you may be better off being honest from the start.
Legalities and Paperwork
Oh, the paperwork… Sometimes home seller will decide to work with an agent just so they don’t have to deal with an overwhelming amount of documentation. Homeowners with Portsmouth FSBO property listings are responsible for ensuring each contract and form are legit and proper for your state regulations. Failure on any documentation could lead to deals not materializing or will at least cost you much money. Please note, selling to an investor like Coastal Edge Homebuyers will skip all this hassle and you can get a quick cash offer, without having to worry about any documents whatsoever!
Holding Costs
You should also be aware of holding costs – the time and money necessary to keep up the home while it’s being repaired, cleaned, and showed to potential buyers. Guess what, all the utilities, landscaping, mortgage, taxes, etc. still have to be paid no matter how long the home will linger on the Portsmouth FSBO listings. Even a real estate agent cannot tell you exactly how long it will take to finish the sale of your home.
Here is another way, instead of going through Portsmouth FSBO property listings. Selling directly to Coastal Edge Homebuyers is 100% successful for sellers. When you work straight with Coastal Edge Homebuyers to sell your home, you also get to keep the commissions for yourself, instead of paying them to a real estate agent! Coastal Edge Homebuyers pays all cash, so the closing can be in a matter of days or a week.
We’ll be glad to discuss your options with you and review any situation that may be pushing you to sell your house fast. Please note, going the full retail route can get you the highest offer, but it is also the option requiring the most time, money, and labor, as opposed to selling to an investor like us and not having to worry about anything. It’s in our interest to offer you all options, so you can make an informed decision. Our goal is to make you the most profit while at the same time considering the importance of less/more risk, time, or money for repairs that you may or may not have available. Feel free to ask Coastal Edge Homebuyers any questions you may have, no obligations whatsoever. Send us a message or call Coastal Edge Homebuyers at +1 (757) 414-7117.