For sale by owner (FSBO) property listings are one option for homeowners in Idaho. “Let’s sell it ourselves and save all of those real estate agent commission fees for ourselves!” Sounds great, right? When it comes to FSBO listings for sale by owner, going it alone isn’t always the right move. The process of selling a home is much harder than it would appear. A 90 percent failure rate for FSBOs trying to sell their own home should give you pause, especially with such an important decision.
Deciding to sell you house is one of the most significant financial decisions you’ll make, so it’s essential to have realistic expectations. We will explore five things you should know about Idaho FSBO property listings.
Effort and Time
One thing you should know about Idaho FSBO property listings take a lot of time and hard work. From scheduling appointments with professionals, such as inspectors and appraisers, through posting ads, putting up signs, hosting open houses and showing the property over and over, you may come to understand why real estate agents earn such high fees for their services.
You should also know that Idaho FSBO property listings tend to sell for less than if you had worked with an agent. Agents are on top of their game and understand how important it is to screen potential buyers and market the home properly. They also have excellent people skills. Because they aren’t emotionally involved with the house, negotiations tend to have a better outcome. While your actual advertising efforts are critical in the results, so too is how the home presents during the showing.
Be Prepared to Make Repairs
Sellers usually end up either making or paying for repairs with Idaho FSBO property listings. While you may not be aware of disclosure laws, learning this lesson the hard way could land you in legal hot water. Even if you don’t make the repairs, the buyers are likely to counteroffer with extravagant discounts from your asking price for doing the work themselves.
Real Estate Contract Law
Quite often, sellers decide to work with a professional because the thought of doing all of the paperwork is overwhelming. Homeowners with Idaho FSBO property listings take on a huge responsibility in making sure every contract and form submitted is legit. Failure on this front could mean a deal falls through and will cost you even more. If you do decide to sell your Idaho home yourself, it is advisable to have a real estate attorney look over all of you paperwork, which often offsets a lot of the savings of selling it yourself in the first place😒!
Don’t forget about holding costs and how they can eat away at the profits of Idaho FSBO property listings. Sadly, not having realistic expectations about what it takes in today’s market to sell a home could leave the property lingering on the market. You’ll be left with the mortgage payment and all other expenses to keep the property in saleable condition. Most standard offers to purchase require that the seller keeps the utilities on so that the home’s systems can be fully inspected. It is also standard for the seller to pay the property tax right up until the closing date. Even an agent cannot tell you an exact closing date when listing a property on the Idaho market.
The most important thing you should know about Idaho FSBO property listings is that there is another option. Selling directly to Brady Buys Houses is 100 percent successful for sellers. When you work with Brady Buys Houses to sell your home, you still get to save the commissions for yourself! Brady Buys Houses pays cash so that the closing can be in a matter of days.
We will go over all of the details of your property and any extenuating circumstances that may be pushing you to sell, helping you determine how much you would profit with a traditional home sale or a direct sale to Brady Buys Houses. At Brady Buys Houses, our goal is to help you make the most profit on your most important investment, your home. Feel free to ask Brady Buys Houses any questions you may have with no obligations. Send us a message or call Brady Buys Houses at (208) 298-5422.