FSBO advice
 

I've worked with selling real estate all of my life, but its been awhile and i was never licensed. I'm thinking of selling our home myself. I considered selling by an auction first but I don't want to pay $20 plus k in commission to anyone. The auction process appealed to me because you sell your property As Is, No Warranties, no haggling. Can't I do the same myself? List it As Is, Where is, No Warranties, no closing costs pd by seller, no exceptions! I just think this would save the buyer and us any unnecessary stress! Your thoughts and replies would be appreciated. The home I'm referring to is in Virginia.

HERE....or THERE?

How are ya feeling? Did you enjoy your visit? Hope you felt well after your surgery.

I just went back and read that you rescheduled. Hope you are feeling good as new.

I would say if you're thinking of selling "as is" in TV you'll have to price it so low you may as well have paid a professional to sell it for you. Too much competition here to try that strategy. Now if you're talking about Ohio, that may be a different story.

Looks like she is from Virginia.

I agree with you gomoho.

Sprucing and staging and painting and roofing and fixing stuff....and decluttering puts bucks in the sellers pocket, no matter what the market is.

I am feeling better FINALLY. But still I can't overdo it. We are scheduled to come on April 25th! I'm referring to my house here in Virginia. Thanks for asking ;)

I was a real estate agent in California for 30 years and the law here is that when selling a property "as is" you have to disclose what "as is" is...meaning if you need a new roof, the dishwasher doesn't work, the irrigation system doesn't work, the kitchen faucet has a leak, the pool equipment doesn't work or the pool has a leak, etc. etc.etc....then you have to put it in writing to the buyer and the buyer has to agree to accept these conditions "as is". You even have to disclose if someone died in the house. Most people wouldn't accept a house in "as is" condition, unless they got a really good buy....not just a good buy, but a rock bottom price!

I would check the law in Virginia to see if you would have to disclose any defects that the property might have, before attempting to sell "as is" . It can be very risky and cause a law suit because if the buyer finds something you didn't disclose, they can take you to court.

I think you have some conflicting goals.

You don't want to pay for professional services, yet you want minimum hassle. There is probably an unstated expectation of a fair price.

Stress comes with the territory.

FSOB can generate more stress and complications because you are directly involved in all of the discussions and negotiations (as opposed to using an intermediary that shields you from a lot of BS).

We have bought and sold several homes----some ourselves and some with a Realtor. It has been our experience that it depends on the local market. If homes are NOT selling in your market, then I would go with the Realtor. If homes ARE selling in your market then I would consider selling it myself. There are many variables but most important is to price it just below what other similar homes are selling if you are looking for a quick sale. If your not looking for a quick sale, be sure and price it according to what similar homes are selling. "Staging" really works with a "good" piece of real estate. By that I mean one valued above average, in excellent condition and in a good location.

Great advice! Especially checking the laws in Virginia. ALL states have different real estate laws. My wife and I had been in real estate in CA and AZ, and found the neighboring states to have much different laws....and those laws change frequently. I can't tell you how many times the CA Board of Realtors Sales Agreement was modified during the time we were there.

With that said, and now directed to the OP, I wouldn't even consider selling our own home as a FSBO today...too many possible issues. We even hired an agent to sell the last house we sold in AZ for us...They will have the knowledge and resources to do the best job for you, and just might get you more net ($) from your sale. Many buyers will hesitate to buy from FSBOs as well.

Although we get lots of real estate questions and requests for advice from friends and family, we haven't been active or licensed in almost 20 years. We do have a couple of rental properties in AZ that we manage ourselves.

We hired an auction company to sell my Dad's home after he passed. The home was appraised at $170K it was auctioned "as is" and sold at auction for 245K. It cost us $4K in auction fee and the auction company did all of the work, money well spent in our case.

Where and when did that happen???:coolsmiley:

Would you mind telling me the name of the auction co. ?