Skip to main content

Trying to build a "To-Do" list to prepare for an FSBO.

Hey gang, after weighing my options, I've decided to try my hand at an FSBO this summer before I can stomach the thought of shelling out five figures to a R.E. agent. I won't pretend to be an expert, but I am also savvy and patient. Obviously the market is built around the Real Estate industry so there isn't exactly a checklist of things to do (legally and administratively) to prepare and protect myself. **I am not asking for ways to prepare/stage my home. I have spent the last 11 years renovating the home and property. That stuff I can manage but am still open to tips**. For example:

•When do I talk to a Real Estate attorney? What exactly will they do for me? Is there such a thing as a "shady" R.E. attorney?

•What specialist can help me understand the rules regarding capital gains, tax laws, and basically anything else I need to know if I make a six-figure profit? (I do plan on using it to buy another house ASAP).

•Would you recommend professional photography?

•How do I list a home on local MLS sites/Zillow?

*Other possibly pertinent info:*

•Bought in 2015 when I was 20, have a max of 220k in equity based on tax assessment/7 month old comps from meeting with a RE agent that I've known for awhile back autumn 2025.

•Similar homes in my area are going for $450K but have been on the market for awhile. I simply don't believe my house/property is worth that much.

•I'm not looking to squeeze every penny out of my equity, I'd rather have a friendly, easy sale. Even if I sold it for $350K I'd make $100K in equity.

submitted by /u/Phalus_Falator
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1sbo6re/trying_to_build_a_todo_list_to_prepare_for_an_fsbo/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/
Post a Comment
Read more