For Sale By Owner Tlee: I am thinking of selling my house by owner. My STBX is not on the title or mortgage so I am free sell the house as I please (assuming he signs a release). I cannot afford the payments myself so keeping it is not an option. I owe about 199,000 on the house. The idenical house next to me is selling for 220,000. If I were to use a Realtor I would be paying 8.5% after everything is said and done. This will leave me ZERO to payoff other existing debt. Selling by owner I would knock off 6%.
I have never sold a house before and know little about the business. I have done some research and it does not seem to be too difficult. I am wondering if anyone out there has sold a house by owner. Was it difficult? Wish you had just used a Realtor? Any insight is welcomed!
Thanks
Re: For Sale By Owner churchy: Tlee-
My ex and I had to sell our house because both of our names were on it. (My ex actually ended up refinancing in his own name.) Anyway, I am not sure where you are located, but where I am from, there is a realtor agency called WHYUSA. Here is the deal. He/she lists your house in all the realty magazines, is the go-between for showings, etc. If they sell the house, they get the percentage. (6% here) The good thing about this is that if YOU sell the house to someone (convince them that they want it), all the prospective buyers have to do is go to your realtor and make an offer. The realtor does all the paperwork, and you only pay him/her $999.00 - the fee for the paperwork and listing the house. You can even set up your own showings if you want to. Our experience with the realtor was good, but we ended up not selling because we lived in a sleepy small town and the market wasn't moving. Just a suggestion! :)
