For Sale by Owner: A Complete Guide: Everything You Need to Sell Your Home at the Highest Price Without Paying a Broker! Everything You Need to Sell Your Home at the Highest Price Without Paying a Broker!

by Berges, Steve

• ISBN13: 9780071458252
• ISBN10: 0071458255
• Edition: 1st
• Format: Paperback
• Copyright: 2005-09-15
• Publisher: McGraw-Hill Education

Summary

How to sell a home without a broker for maximum profit in minimum timeFSBOs (for sale by owners) are one of the quickest- growing methods of home sales in the business.For Sale by Owner: A Complete Guideis the most up-to-date, comprehensive guide available to selling a home independently. It covers all the bases, arming readers with: Insider tips on surefire, low-cost, high-impact home improvements, guaranteed to yield maximum profits Step-by-step guidance on home valuation, including tips on researching the market, hiring an appraiser, and setting prices Inexpensive marketing and advertising techniques--with a section on marketing a home over the Internet Expert advice on how to select the best title company, negotiate a deal and close the sale, protect against future lawsuits, and more

Author Biography

Steve Berges has spent 25 years investing in various properties, from single-family homes to apartment complexes to entire housing communities. He has authored numerous books, including The Complete Guide to Buying and Selling Apartment Buildings and The Complete Guide to Flipping Properties.

Table of Contents

Part I: The FSBO's Home Preparation Checklist	1	(58)
1 Selling Your House: The Difference Between Success and Failure	3	(9)
Introduction	3	(4)
The FSBO's Goals and Objectives	7	(1)
The FSBO Self-Assessment Checklist	7	(5)
2 Exterior Home Preparation: How to Make Low Cost, High Impact Improvements That Will Sell Your Home Fast	12	(14)
Visibility Adds Value	13	(2)
The Berges Yikes-Appeal Scale	14	(1)
Is the Outside of Your House Bright and Cheery, or Dark and Dreary?	15	(11)
Lawn Condition	15	(1)
Landscaping: An Easy Way to Dress Your House for Success	16	(1)
Fencing Repairs	17	(1)
A Junky Yard Can Make Your House Look Junky	18	(1)
Freshen Up Your House with a Fresh Coat of Paint	19	(1)
Check the Condition of Siding and Repair or Replace as Necessary	20	(1)
Don't Forget the Gutters and Down Spouts	21	(1)
Roof Repair and Replacement	21	(1)
Deck Condition: Restore and Refinish as Necessary	22	(1)
Additional Outdoor Structures	23	(1)
Organize Your Garage to Make it Appear Larger	23	(1)
Dress Your House to Impress with a Beautiful Wooden Door	24	(2)
3 Interior Home Preparation: How to Make Low Cost, High Impact Improvements That Will Sell Your Home Fast	26	(10)
Is the Inside of Your House Bright and Cheery, or Dark and Dreary?	27	(1)
Clean or Cluttered?	28	(8)
Flooring: A Low Cost, High Impact Improvement	28	(2)
Dress Up the Inside with a Fresh Coat of Paint	30	(1)
Give Your Kitchen a Facelift	31	(1)
Give Your Bathroom a Complete Makeover	32	(1)
Light the Way with New Fixtures	33	(1)
Clean Out Those Cluttered Closets	34	(2)
4 Home Valuation: How to Price Your House to Sell for Maximum Value in Minimum Time	36	(10)
Understanding the Proper Value of Your House is Essential	36	(1)
The Comparative Market Analysis	37	(2)
How to Get a Free CMA	38	(1)
The Appraisal Process: Why You Don't Need One—Yet	39	(2)
Compare Your House to Others in the Area	41	(1)
How to Sell Your House at the Right Price for Maximum Profit	41	(4)
Know Your Bottom Line Before You Begin to Sell	42	(1)
Terms and Seller Concessions	43	(1)
Average Days on Market	44	(1)
Time Is Money	45	(1)
5 Third-Party Reports and Legal Forms: How to Protect Yourself by Using These Essential Forms	46	(13)
Professional Legal Services	47	(1)
Ten Essential Real Estate Forms	48	(13)
Real Estate Form 1: Residential Sales Contract	49	(1)
Real Estate Form 2: Property Condition Disclosure	50	(1)
Real Estate Form 3: Lead-Based Paint Disclosure	51	(1)
Real Estate Form 4: Third-Party Financing Addendum	52	(1)
Real Estate Form 5: Loan Assumption Addendum	52	(1)
Real Estate Form 6: Seller Financing Addendum	53	(2)
Real Estate Form 7: Promissory Note	55	(1)
Real Estate Form 8: Notice of Termination	56	(1)
Real Estate Form 9: Warranty Deed	56	(1)
Real Estate Form 10: Quit Claim Deed	57	(2)
Part II: The FSBO's Marketing and Sales Checklist	59	(62)
6 Strategic Marketing: Seven Smart Ways to Sell Your House	61	(12)
Prepare a Generous Marketing Budget to Sell Your House	62	(1)
How to Use Newspapers and Classified Ads to Sell Your House	63	(3)
Keep Your Ads Crisp and Concise	65	(1)
How to Use Real Estate Magazines to Sell Your House	66	(1)
How to Use the Internet to Market and Sell Your House	66	(3)
How to Use a Yard Sign to Sell Your House	67	(1)
Information Boxes Are for Everyone (Including Your Nosy Neighbors)	68	(1)
How to Use an Open House to Sell Your House	69	(1)
How to Use Networking to Help Sell Your House	70	(1)
How to Use Flyers to Help Sell Your House	71	(2)
7 Discount Brokerage Services: How to Co-op with Agents and Have the Buyer Pay the Commission	73	(9)
Discount Brokerage Services and Fee-for-Service Agents	74	(3)
How to Sell Your House Faster Using This Important Service	77	(2)
How to Get the Buyer to Help Pay for These Services	79	(1)
Perceived Costs versus Real Costs	80	(2)
8 Home Presentation: How to Show Your Home to Qualified Buyers	82	(12)
Safety First	82	(3)
Show Your House by Appointment Only	85	(1)
Home Preparation Checklist	86	(4)
Sense 1: Sight	87	(1)
Sense 2: Smell	87	(1)
Sense 3: Sound	88	(1)
Sense 4: Touch	89	(1)
Sense 5: Taste	90	(1)
Time to Show and Sell	90	(4)
Rule 1: Give the Buyer Space	91	(1)
Rule 2: Features and Benefits	91	(1)
Rule 3: Accentuate the Positive	91	(1)
Rule 4: Make it Fun!	92	(2)
9 Negotiating Strategies: How to Get What You Want without Giving Away the Farm	94	(14)
How to Use Verbal and Nonverbal Clues to Know if a Buyer Is Hot or Cold	95	(2)
How to Use Trial Closing Questions to Gauge a Buyer's Readiness	97	(1)
How to Use the Buyer's "Trial Balloon" to Close the Sale	98	(2)
What to Do If a Buyer Offers Less Than Full Asking Price	100	(1)
How to Make a Counteroffer	101	(4)
Contingencies and Subject to Clauses	102	(3)
Earnest Money Deposits	105	(1)
What to do When a Mutual Agreement Is Reached	106	(2)
10 Formalizing the Sale: How to Use Sales Contracts and Purchase Agreements to Protect Your Legal Interests	108	(1)
1. Parties	109	(1)
2. Property	109	(1)
3. Sales Price	110	(1)
4. Financing	111	(1)
5. Earnest Money	111	(1)
6. Title Policy and Survey	112	(1)
7. Property Condition	113	(1)
8. Broker's Fees	114	(1)
9. Closing	114	(1)
10. Possession	114	(2)
11. Special Provisions	116	(1)
12. Settlement and Other Expenses	116	(1)
13. Prorations	116	(1)
14. Casualty Loss	117	(1)
15. Default	117	(1)
16. Dispute Resolution	117	(1)
17. Attorney's Fees	118	(1)
18. Escrow	118	(1)
19. Representations	118	(1)
20. Federal Tax Requirement	119	(1)
21. Agreement of Parties	119	(1)
22. Consult Your Attorney	119	(2)
Part III: The FSBO's Closing Checklist	121	(42)
11 Title Insurance: How to Select the Best Title Company and Have the Buyer Pay for It	123	(8)
The Necessity of Title Services	124	(1)
All Title Companies Are Not Created Equally	125	(1)
How to Find a Superior Title Company in Your Area	125	(1)
How to Get the Buyer to Pay for Title Insurance	126	(1)
Title Company Fees	127	(1)
When to Order Your Title Work	128	(1)
Title Searches: How Long Do They Take?	129	(2)
12 Home Inspections: How to Comply with the Home Inspection Process	131	(6)
The Buyer's Right to Inspect	131	(1)
How to Minimize the Time Frame Allowed for the Inspection	132	(1)
Three Steps You Can Take to Protect Yourself from Being Sued	133	(1)
What to Expect During the Inspection	134	(1)
How to Minimize Your Out-of-Pocket Expenses	135	(2)
13 How to Understand and Comply with Appraisal Requirements	137	(8)
Understanding Appraisals	138	(3)
Appraisal Requirements	141	(1)
Appraisals, CMAs, and BPOs	142	(1)
How to Get the Buyer to Pay for the Appraisal	142	(1)
Scheduling and Preparing for the Appraisal	143	(2)
14 Closing the Sale: How to Make Sure Your Closing Goes as Smoothly as Possible	145	(13)
Scheduling the Appropriate Parties	146	(2)
Current Tax Information	148	(1)
Clear to Close	149	(1)
Utility and Services Transfers	149	(1)
Understanding the Settlement Statement	150	(3)
Review and Verify the Accuracy of Prorated Items	153	(3)
Final Walk-Through Inspection	156	(1)
Closing Day	156	(2)
15 Moving Preparations: How to Plan Your Move without Getting Ahead of Yourself	158	(5)
Careful Planning Must Be Balanced with Awareness	158	(2)
Timing Your Move	160	(3)
Professional Moving Services	161	(1)
Container Services	161	(1)
Truck Rental Services	162	(1)
Termination and Transfer of Services	163	(1)
Conclusion	163	(2)
Appendix A www.thevalueplay.com	165	(2)
Appendix B symphony-homes.com	167	(2)
Appendix C Sample Real Estate Forms	169	(19)
Glossary	188	(17)
Index	205