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How to Sell Your Own Home - Tips & Tools

If you are reading this article, it probably means you're wondering how to sell your own home effectively. You've come to the right place! This article (and our website in general) will provide you with the tools and advice you need to sell your own home in today's real estate market.

If you're ready to get started selling your home, click the link provided below. Otherwise, skip over the link to continue learning about the process!

How to Sell - By the Numbers

Let me start by saying the selling process will vary from one home seller to the next. But most people who choose to sell their own home will go through the following steps at some point or another.

So without further ado, here is the basic FSBO (for sale by owner) process:

Step 1 - Get qualified for your next home

Unless you can afford to pay cash for your next home, you'll have to go through the process of obtaining a mortgage loan again. So before you sell your own home (or even list it for sale), it's wise to get pre-qualified for the loan amount you'll need for the next property.

Step 2 - Determine your mortgage balance

This step will help you determine how much money you could make on the sale of your home. You can get this balance by contacting your lender. Then, you can subtract the loan balance from your asking price to get a rough idea of your proceeds when you sell the home.

Step 3 - Price your home accordingly

When you sell your own home you'll have to determine a reasonable asking price before you can list it for sale. It's often worth the price to have a professional appraiser come out to appraise the home. This can help you determine the sale price. You can also get pricing help from experts when you sell your home on ForSaleByOwner.com.

Step 4 - Prepare your home for buyers

A lesson on how to sell your own home would be incomplete if it didn't address the staging process. Fortunately, you can find plenty of advice on home staging right here on our website. You'll even find a room-by-room guide to the process in the upper-right section of the website. Preparing your home for buyers is a crucial step in this process. Curb appeal is a good place to start.

Step 5 - List your home for sale

In order to get buyers out to visit your house, you need to list if for sale where buyers are looking. An agent could list the property on the Multiple Listing Service (MLS). But when you sell your own home you'll need to create your own listing somehow. Here's some good news. You get excellent exposure when you sell your home on ForSaleByOwner.com.

Step 6 - Stage an open house

Depending on how hot (or cold) your market is, you could have a steady stream of buyers visiting once you list the home. But an open house is a great way to get a lot of buyers at once, which can expedite the whole process. You can announce your event online, wherever the home is listed. You can also put signs out to promote the open house, and promote in your local newspaper.

Step 7 - Accept an offer

When you sell your own home the idea of reviewing and accepting an offer can seem daunting. But it doesn't have to be. The key here is preparation. When you do your homework to price your house properly, and you understand the type of real estate market you're in, you'll be able to negotiate like a pro. Don't be afraid to turn an offer down either, if it doesn't measure up in some way. There will always be others behind it.

Step 8 - Inspection, Appraisal, Etc.

When you have accepted an offer, the home is official under contract. Between this and the final closing process, the buyer will probably have the home inspected. If you have prepared the home in advance, this shouldn't be a big deal. If the buyer asks for something to be fixed, let common sense and reason be your guides. The goal here is to work together to keep things moving. You can also expect an appraisal during this period too.

Step 9 - The Closing / Settlement Process

During the final settlement process, the hard work you've put in to sell your own home will pay off in the form of proceeds. By taking the FSBO route, you will have more money in your pocket at closing. During this process, all outstanding fees are paid and the property is officially transferred from seller to buyer.

How to Begin the FSBO Process

This might seem like a lot of work. In a sense, it is. You have to do the proper research and preparation to succeed, but the results are worth it. You can also make the process a lot easier by using an FSBO service like the one below. They can help you price your home, list it, promote it to buyers and more.

If you're going to sell your own home it's always a good idea to use an FSBO provider, especially if it's your first time going through the process. Click the link below and see what all they have to offer!

Related article: Selling Tips for FSBOs

Looking for tips on how to stage and sell your home effectively? If so, you've come to the right place!