When it’s time to sell your home, the quintessential thing to do is contact a realtor or real estate agent in the location of choice and let the pro handle everything. This route is not the only one to take, nor is it a legal obligation to do so. Three other options exist in the home selling process. Look over the choices to see if an option entices you.
1- For Sale by Owner
Alternatively recognized by the initials “FSBO,” for sale by owner is the primary alternative way to sell a home, and the internet made it simpler. Traditionally, owners would put a for-sale sign on the property and use offline marketing strategies like word-of-mouth, newspapers, flyers, and journals/magazines to sell homes. You deal with the buyer face-to-face, and appraisals, repairs, title, mortgage, and closing costs communications are your responsibility. Now, the internet reaches real estate buyers around the world. Use offline strategies with online methods such as your website, social media pages, and online real estate classifieds for maximum exposure. Go further and create a free account on popular general real estate websites like Trulia, Zillow, Redfin, Movato, Homes.com, and Realtor.com and list your home for sale. Consider listing your home on MLS websites for a fee to attract serious buyers. The internet can guide you to a real estate broker or lawyer of choice to iron out the details you normally would do yourself.
2- Sell to an Investor
While not all cash buyers are companies or solo entrepreneurs, most are. Both use phrases like “fast sale” and “we buy houses” to encourage sellers to sell their homes to them. Their promises of homeownership transfer beginning and ending within two weeks are legitimate. What makes this route more convenient is the internet. An advantage to this route is avoiding buyers, mortgages, repairs, appraisals, inspections, and commission drama. The investor buys the home as-is ranging from a brand new built-from-the-ground-up home to a damaged fixer-upper house that needs serious TLC. This route is perfect for relocation dilemmas, medical problems, family drama, inheritance disputes, and more.
3- Transfer Ownership to a Loved One
The approach in home selling is transferring ownership to a family member or friend. While you know and trust the person, a successful transfer means you got a fair deal on the home. Therefore, research the market value of the house and get it appraised before entering an agreement. Since many family members and friends expect the home for free, let them know that payment is mandatory for transfer. If everything works out, hire a real estate lawyer or broker. The lawyer or broker will create an airtight, detailed contract between the parties and will be the neutral voice in the negotiation when things get heated. A verbal or handshake agreement will only end in a lawsuit. When both parties sign the contract, the home transfer can begin.
Now that you know the alternative ways to sell a house, truly evaluate the choice carefully. Do further research with the options and focus on the time available, your patience, the spending money you’re willing to pay, and the real estate know-how to sell the property. Nevertheless, you can explore home selling options and do it successfully without a realtor or agent in the way.
