Sell my house without a realtor can be a challenging process. Not only do you need to prepare for a potential buyer, but you also need to know the legal aspects of the transaction.
How do I prepare my house to sell?
The first step is to price the house accurately. This is an art, but it is not difficult to get it right. There are many options for determining a fair market value. You can use recent sales comps and an appraiser.
Once you have a realistic list of prices, you will need to negotiate with buyers. Buyers often counter offers. Do your best to stay objective and don’t let your emotions take over. Be sure to find out what kind of down payment the buyer is offering.
You may need to hire an attorney to prepare the purchase agreement. It is important that you follow federal laws, including the Fair Housing Act. If you don’t do this, your deal could fall through.
You will also need to choose a lender. Usually, investors will buy a house all cash. Some investors will even offer you a lower price, but you’ll need to do your due diligence.
Getting a pre-approval letter from a lender is important. This helps increase confidence in the deal.
Another important thing is to set a deadline for responding to an offer. Often, this will be two weeks. Make sure you include any concessions the seller is willing to make.
Finally, you’ll need to hire a title company to transfer the title of the property. They’ll also verify the paperwork.