A Step-By-Step Guide to Selling a House by Self in The US

Who can sell a house without a realtor? After all, they are the experts who can fetch you the most lucrative deal for your property. But just so you know, the home selling scenario in the US is changing rapidly—as per the data from the National Association of Realtors, about 7% of homes in the US were sold as FSBOs in 2020. So, the real estate market is not lagging in the quickly advancing digital world.

It is lucrative and exciting to sell your home by yourself using a for sale by owner website. But selling a house by the owner is not that simple. It is a complex process that needs your time, expertise, and smartness to sell it at a fair price. And you can save thousands of dollars in commission fees if things go well for you. 

If you want to be successful in selling a house, you need to learn how to sell a house by owner. This blog gives you step-by-step guidance on how to sell a house by owner in the US.

What is FSBO

For sale by owner or FSBO is a solution to your question about how to list on MLS. If you choose the FSBO option to sell your home, you do most of the work from listing your home and staging it to showing it to prospective buyers, negotiating the deal, and closing.

8 steps to sell your house by yourself

Below are the things you can do to set yourself up for success in selling a house using a ‘for sale by owner’ website. Follow the below-mentioned steps to sell a house by owner in the best way:

  1. Weigh the pros and cons of selling a house by the owner

Selling a house is one of the most expensive transactions you would make in your life. So, it is better to be clear about it from the start and think the process through. Weigh the pros and cons of different ways in which you can sell your home. If you are selling your house by using for sale by owner websites, consider all the situations that will transpire in the process, and do not get blinded by the money you could save with FSBO.

  1. Get your house ready for sale

If you sell your house to house flippers, you don’t have to worry about its repairs and the interiors. But to get the best value for your home in FSBO, you must give your house a makeover and present it well. Note that getting your house ready for sale could be a time-consuming process whether you need to deep clean your house and glam up its interiors and exteriors or make minor repairs. You need to get your house ready for sale before you start marketing it. Once your home is ready to be sold, you can stage it for photos that will go online on for sale by owner websites. Remember that professional-looking photos can bring in thousands of extra dollars for you.

  1. Price your home right

Pricing your house is one of the most important pieces in selling a house by an owner. To do that right you need to find the market value of your home. You can find the value of your home in three different ways. One way is to ask an unbiased real estate agent to walk through your house and estimate its value. The second way is to get your house’s formal appraisal done. It will give you the most accurate estimate but can cost you up to $500. The third way is you can make an educated guess of your home’s value. You can do market research on the average sale prices of homes in your area that are similar to yours to gauge your home’s value. You could even look up real estate websites for estimates. 

  1. Market your home 

To advertise for the sale of your home you can talk to friends and family, put up yard signs, post on social media, print flyers, or even set up a website. Or you can use the Flat Fee MLS service to get your house listed on MLS where 95% of prospective buyers or their agents are present. You can choose from some amazing MLS website options using which you can not only get your house listed but also simplify paperwork and quicken your overall house-selling process. 

  1. Be responsive to prospective buyers

If not tended to quickly, homebuyers can quickly move on to consider the next property in line. Therefore, it’s important that you put in the time to respond to emails and calls promptly, show your house around, and provide enough information for homebuyers to come to a decision. Also, when showing your home, you must remove emotion from the process and pay heed to the buyer’s priorities.

  1. Negotiate the offer you get

Once you set the ball rolling by getting your house ready for sale, pricing it right, and listing it on MLS, you would start to receive offers on your home! It’s certainly some progress but you still have to close the sale. If the offer you get is well below your asking price, you would need to negotiate with the buyer. While negotiating, be careful as your being completely inflexible can scare the offers away. The buyer may put conditions before purchasing like completion of repairs or you covering the closing costs among others. You would also need to provide buyer disclosures, which are often mandated by state law. 

  1. Take the help of an attorney

To review a purchase contract and buyer’s offer in writing, it is ideal to take the help of an attorney however it is not necessary. Hiring a prudent attorney who is also a specialist in real estate law is a wise decision as a first-time seller can get into trouble during complications. Moreover, for a few thousand dollars, a real estate attorney would offer you advice and guidance comparable to a good real estate broker such as how to draft closing documents, means to evaluate complex offers and other legal matters associated with a home sale.

  1. Close the sale

Coming to the step of closing the sale by yourself using your wits, a for sale by owner website, and a real estate tech service is cool. However, you need to comply with your state’s laws for selling a house as some states require you to hire a lawyer to make the sale. 

Conclusion

If you do all the things mentioned above correctly to sell your house by the owner, hopefully, you will get the price you expected from the sale while saving on the huge agent commissions.

To know more about How to sell a house by owner in various states, check out the following blogs:

California: How to sell a house in California by owner

New York: How to sell a house by owner in New York

Texas: How to sell a house by owner in Texas

Arizona: How to sell a house by owner in Arizona 

Connecticut: How to sell your home by owner in CT

New Jersey: How to sell a house by owner in New Jersey