Don’t. A good realtor can screen potential buyers and weed out the chaff. That alone is worth what they charge. Been through it on a home sale being lied to,So my Mom and Dad bought a house back around 14 years ago, its a 4 Bedroom, 2 bath modular on a full poured and insulated basement. It is located on almost 10 acres, probably 2.5 acres of grass and the rest woods. Desirable property and its rare that something like that comes up for sale around here in the same price range, or any price range for that matter.
My Father passed away a few years ago and the size of the home and the amount of land is too much for just my mom to handle. I have found myself trying to maintain our place and hers and am not able to dedicate the time to do a good job on either one. Its time for her to downsize.
I already have several people interested in the house just from casual mentioning of it to coworkers and my moms neighbor (word spreads fast around here, and for some reason everyone just LOVES the idea of living "in the country" like it's some utopia, it's not trust me, we live "in the country" and it has afforded us the by far the worst neighbor we have ever had amongst other things so I'm a bit Jaded Lol.)
Anyway, we initially planned on listing it with a Realtor, I am also probably going to contact a local home builder/developer and see what his offer is, he would love to put some more homes on the land, I'm sure.
I am not opposed to using a realtor, although since a surprising number of people are already interested in the house I am questioning if we should just try to sell it by owner.
Honestly if the Home Builder/Developer guy makes an offer in the ballpark I would probably just sell it to him, quick, easy and done. Hes got the funds to buy and the resources to give the house the bit of TLC it could use to bring it to the next level and it would be an As-Is sale, no dealing with buyers picking apart silly stuff.
Anyone been in a similar situation and have any words of wisdom?
If you have a willing and able buyer lined up and you're happy with the price, it makes no sense to waste money on a RE agent. You can spend a few hundred on RE lawyer to look over the paperwork before settlement, but that's all you need.I am hoping to just get an acceptable offer from the Developer
A few hundred ? I wouldn't count on that . That Attorney is going to have to spend a little time researching that property . Taxes , liens , etc.If you have a willing and able buyer lined up and you're happy with the price, it makes no sense to waste money on a RE agent. You can spend a few hundred on RE lawyer to look over the paperwork before settlement, but that's all you need.
Good question, mainly because I already have few interested parties just from word of mouth. I know one of them can actually buy it and the second party I feel is probably a good buyer, though I haven't gone that far yet with them.What is your reason for possibly going the no-realtor route ? I'm guessing to avoid paying commission ? I respect that, just knowing the reason is important so people can understand.
Most buyers will have a realtor and you really can't control that so you'll still pay 50% of the normal commission.
Why would YOUR side have to research the property? You already own it. The buyers title company checks for unpaid taxes, liens, etc..A few hundred ? I wouldn't count on that . That Attorney is going to have to spend a little time researching that property . Taxes , liens , etc.
$350 / hr wouldn't be unheard of . Now , if you can get the buyer to pay for it ..
As a Lawyer , would you sign off on a legal document and call it good just because somebody else said so ? You want him to " Look it over " . What is he looking for ? ANYTHING that can come back to bite you . Or him . He's going to charge more than a couple of hundred just to answer the phone .Why would YOUR side have to research the property? You already own it. The buyers title company checks for unpaid taxes, liens, etc..
We are looking to sell at the 260 to 300 price range. This home builder is selling homes quicker than he can build them and he hasn't slowed down yet. He likes properties where he can put 3 or 4 homes in because that's a different set of rules in this county as its not considered a subdivision.How much do you think the property will sell for? A good realtor can take a lot of hassle out of the process but you definitely pay for it. Most SF homebuilders aren’t buying land at the moment unless in a crazy hot market.
It seems like you have friendly, legitimate buyers lined up. If you are honest with what you know about the place, tell the buyer everything, negotiate a price, and then both of you can go to RE lawyer and have them write up an agreement, do the title search, and whatever else needs to be done to finalize the sale in your state so no one gets screwed. 4-5 hours of their time is a lot less than 6% of the sale.We are looking to sell at the 260 to 300 price range. This home builder is selling homes quicker than he can build them and he hasn't slowed down yet. He likes properties where he can put 3 or 4 homes in because that's a different set of rules in this county as its not considered a subdivision.
This particular home will sell quickly I believe. My parents bought it during the great recession and there were 3 other offers, this when real estate was flat here.
I am going to have to decide which route to take here pretty quickly, I already have 1 preapproved interested and 2 unknowns interested, and this is just from casually mentioning to the neighbors and a few people we know there is a place on 9 acres going up for sale.
People here just LOOOOOOVE homes in the country. I was honestly one of those people at one point and while there can be benefits, I'm jaded now due to our repeated negative experiences living in the "country".
I have lived next to "undesirable" section 8 housing and in that particular instance they were good neighbors, though im sure we will here 50 stories where that was not the case, that however was my experience. I have lived in subdivisions, cities and a smaller town. By far the worst neighbor I have ever had is right here in the good 'ol "country". At least in town there is some expectation of living like law abiding, civilized people. Some people move to the countryside to have a larger property, peace ect.... some people move to the country because they are scumbags, and they can get away with a lot more out here.
The neighbors at my mom's place are great, it's our neighbor that is a jerk. My diatribe was more directed to why living in the country isn't all that great.It sounds like you have an emotional vestment in the property. (You're thinking the neighbor's a jerk.) This is a terrible place to negotiate from, a good realtor will help you with this.
Im putting that in my book of one liners of great life advice! I love it and so true!If you look around the room at closing and can't find the idiot (naive party), it's you.
My point stands, this isn't the house for you, but an independent party would better be able to find who it's perfect for.The neighbors at my mom's place are great, it's our neighbor that is a jerk. My diatribe was more directed to why living in the country isn't all that great.
Most buyers have an agent who is busy looking for a house for their client. They look in MLS and Realtor.com. Not Zillow.If you want it on the MLS go with a flat fee listing and do the showings yourself. I've done it, and would do it again.
Yes earlier this year. Although we realize that the market has gone down since then.OP:
You mentioned you were looking to sell in the “$260,000 to $300,000” range.
Did you ever get an independent appraisal on the house and a separate appraisal on the land? Not a “this is what a realtor said they could sell it for” verbal appraisal.
Cujet,My FSBO sales went well, were troublefree and easy. I used our lawyer to handle the transaction. I listed the homes at the going rate, not lower, not higher. And did not negotiate on the price.
I'd do it again in a heartbeat. The pushback I get from realtors and friends of realtors is stunning. But the fact remains, my transactions were easy and fast.