Say NO to FSBO Homes For Sale In Farmington Hills

Say NO to FSBO Homes For Sale In Farmington Hills

Are you thinking about taking the FSBO homes for sale in farmington hills route for selling your house? Here’s something you should know about before you make a big mistake:

A home for sale in Farmington Hills, Michigan with signs that say “For Sale by Owner” (FSBO) are always the last one to get sold on the block. Why? As soon as people find out that a real estate agent is not involved in the process, they stop themselves from placing an offer. They are concerned about who is the point of contact. In the back of their mind, they assume that something is wrong with the house and this is why the house is being sold by the owner.

The question is: as a homeowner, why are you doing this?

Are you trying to save on the real estate agent’s commission?

You might keep a few hundred dollars in your pocket but the money that you will pay throughout the process for transfer, deeds, and liens will have your mind reeling. Most important of all, you might not be able to draft a professional contract for your FSBO homes for sale in Farmington Hills, Michigan, which will leave you vulnerable to loopholes that the buyer can take advantage of.

FSBO vs. Realtor

According to National Association of Realtors, 30% of houses found are through real estate agents. In 2016, 8% of the houses were sold by homeowners themselves. Around 51% of the houses are found on the internet, which shows how important it is to market your house on the right platform.

With that being said, let’s take a look at why hiring a real estate agent for your home for sale in Farmington Hills, Michigan is better than taking the FSBO route:

1. Selling Price FSBO Homes For Sale In Farmington Hills

FSBO – A house that is put on the market by the owner is typically sold for $190,000. There are a number of reasons behind it such as a professional not being present at the time of negotiations and failing to understand the lingo used in such meetings. There’s also a problem of trust, as buyers think they might be getting scammed.

Realtor – A home for sale in Farmington Hills, Michigan being handled by a real estate agent is typically sold for $240,000. The reason behind this increase in sale price is because they are able to compare your house to comps and convince the buyer that all the features in the house are worth the asking price.

2. Time on Market

FSBO – It takes around 88 days for a homeowner to sell the house on his own. Usually, the house sits 18 days to 3 weeks longer on the market than a house being sold by a realtor.

Realtor – A house can be sold by a real estate agent in 2 months or less. The time frame also depends on the features of your house i.e. whether they are trending in the market or not.

3. Stress on Seller

FSBO – FSBO-ers are always worried about one thing or another regarding the documents of the house. They are 70% more stressed than people who work through a real estate agent. They have to tackle everything themselves; the packing, the staging, the sale and moving.

Realtor – Realtors have resources, which they recommend to homeowners. From legal paper work to repairs and finance, everything is taken care of by someone else.

This is why working with a real estate agent is a much better option than taking the FSBO route. Not only are you stress-free but you make a pretty profit on the sale too! Before putting up your home for sale in Farmington Hills, Michigan on the market, why not get it appraised by experts. Visit Homes2MoveYou now and get yourself a real estate professional like me to guide you through the process. 248-790-5594

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NAR® List Sparks First Farmington Hills House Quiz

NAR® List Sparks First Farmington Hills House Quiz

My organization—the National Association of Realtors®—offers a wide range of guidance for first Farmington Hills house and families who have decided it’s time to land their first house. With more than a century’s worth of experience, you’d expect nothing less.

Thank the NAR®: A Quiz for First Farmington Hills HouseFirst Farmington Hills House

Last week I happened across an article the NAR had distilled that looked like a must-read for anyone who is just starting out on the path to buying their first Farmington Hills house. Its title was “8 Critical Things to Do Before Buying a Home”—but it could just as well have been “8 Critical Things to Do Before Buying Your First Farmington Hills House.” Each of the eight was apt—and important to mull over—but it’s the kind of list that’s awfully easy to read without giving much thought to the individual items.

The challenge was to come up with an interesting way to share the ideas with you. The article put the “8 critical things” in order—so I decided to make a game out of them: a quiz.

See if you can guess what was the order—from first to last—that the NAR presented them in. I don’t know that the order I’d choose would match theirs exactly …but see how well yours does:

-A. Amass a down payment

-B. Go mortgage shopping

-C. Ponder the future (*I love this one: wait till you see where the NAR put it!)

-D. Crunch your numbers

-E. Know your credit score

-F. Get educated

-G. Ballpark your closing costs

-H. Interview at least three real estate agents

The NAR’s answers are at the bottom, but I have a minor addition for Farmington Hills first house buyers: if you’re just getting started, you can get a head start right now by giving me a call. There’s never an obligation, but I’m always happy to discuss where you are and the options you might already have. In any case, later—when it comes to action H.—you’ll definitely have a head start!

Answers
D, E, A, F, H, B, C

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