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Old 08-21-2009, 03:51 PM   #1
THE eXchanger
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Default selling a house privately/or using an agent ???

i'd like people's opinions

on selling a house

privately

vs. using an agent

house is worth approx $399 to 429K

(the area is rising approx 6% per annum)

and, it is the lowest priced home,
less than 1% fall into the $399-$429 range
approx 80% fall into 799-to $1.2 million area
and, the rest, are over 1.2 million

privately, what do i need to do ???

i have several people ready to offer !!!
thanks
+ xxx

Last edited by THE eXchanger; 01-03-2010 at 06:44 AM.
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Old 08-21-2009, 04:35 PM   #2
Sarahmay
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Default Re: selling a house privately/or using an agent ???

Quote:
Originally Posted by eXchanger View Post
i'd like people's opinions

on selling a house

privately

vs. using an agent

house is worth approx $399 to 429K

(the area is rising approx 6% per annum)

and, it is the lowest priced home,
less than 1% fall into the $399-$429 range
approx 80% fall into 799-to $1.2 million area
and, the rest, are over 1.2 million

privately, what do i need to do ???

i have several people ready to offer !!!
thanks
If you don't need help marketing the property, then there is no reason to pay an agent a 6% fee (or whatever it is where you live).

I've done it both ways, and a good real estate attorney is all you need if you can find a buyer on your own. Good luck!
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Old 08-21-2009, 04:42 PM   #3
waitinginthewings
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Default Re: selling a house privately/or using an agent ???

If you already have several potential buyers, then by all means sell it privately. More money in your pocket. I have bought & sold home, but always through an agent. I tried last year to sell privately but just got a few "nosey" people who were not even looking to buy.

I also use a Notary of Public, way cheaper than a lawyer. They do the exact same work & will take care of all the transfer of papers, monies, taxes etc.


You can call a few Notaries & get their fees, also ask them (as I forget) if they have the appropriate forms for you to write up the sale of your home. The buyer usually will ask to have an inspection on your home which they pay for & if that is all clear, then your good to go.

Its easy........good luck....& I hope you can sell.
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Old 08-21-2009, 04:57 PM   #4
Northern Boy
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Default Re: selling a house privately/or using an agent ???

http://www.forsalebyowner.com/ here you go Sue
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Old 08-21-2009, 05:17 PM   #5
Cosmic Dancer
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Post Re: selling a house privately/or using an agent ???

Hi eXchanger,

I have sold several properties without the help of a real estate agent.
You can definitely profit from carrying out the transaction without having to pay out commission fees, if you know what to do to protect both parties.

It is possible to have all the legal documentation done properly as well as take all the necessary actions needed to be legally protected (home inspections, financing approval, transfer dates, etc.) and all in a timely fashion. Once the preliminary agreements are consented to by both parties, and some basic documents are filled out, then the next and most important step is to go to a Notary, have him thoroughly review the Offer to Purchase and to make sure all is in proper order. You can go to a notary that you know and trust for confirmation that all is legally binding or else you can consult the buyer's choice of notary since he/she will be executing the research and transaction papers, they properly won't charge as much to review your preliminary Offer to Purchase.

If you need any specific help with setting up any of the preliminary paperwork or directives as to what needs to be agreed upon at the onset to begin with, do not hesitate to PM me. I'd be glad to be of help.

--Cosmic Dancer
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Old 08-21-2009, 05:20 PM   #6
Swanny
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Default Re: selling a house privately/or using an agent ???

Spend the money quick while you still can
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Old 08-21-2009, 05:25 PM   #7
Sarahmay
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Default Re: selling a house privately/or using an agent ???

Quote:
Originally Posted by Swanny View Post
Spend the money quick while you still can
I think the Canadian dollar is doing okay. If fact, I was thinking of exchanging $10K or so...
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Old 08-21-2009, 05:31 PM   #8
Swanny
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Default Re: selling a house privately/or using an agent ???

I think all money will be worthless if they get their way with the depopulation plan.
Best to spend what you can on survival goods and stuff you can barter with.
If I had that much money I would buy myself an ex lifeboat and stock it up with survival gear then find myself an empty bit of sea
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Old 08-21-2009, 05:55 PM   #9
THE eXchanger
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Default Re: selling a house privately/or using an agent ???

houses here continue to climb upwards

and, people in million $ homes, are trying to climb downwards

i have 72 people interested, from a simple free ad


IF EVERYONE HERE, can send me lots and lots of good energy
it would be appreciated

right now, i've got lots of contents

and, a good house to sell

on the other side of this - i do plan to
get into something sustainable,
perhaps with others who are here !!!

where the heck is waterman & his wife ???
+ xxx

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Old 08-21-2009, 05:56 PM   #10
THE eXchanger
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Default Re: selling a house privately/or using an agent ???

a boat is a good idea

thanks mr. S

Last edited by THE eXchanger; 01-03-2010 at 06:45 AM.
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Old 08-21-2009, 05:58 PM   #11
THE eXchanger
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Default Re: selling a house privately/or using an agent ???

i have worked my butt off, to be in a home - and, it sure, is getting hard to stay in one, esp. alone !!!

this place, no longer, suits my future plans

it's too bad, i didn't have the 5,000 to finish the rest of the renos

however, it is only the difference of getting an extra
20-25,000 - so, it's a small percent, i'd be losing,
deciding to sell as is !!!

also; i guess, it's unfortunate; cause the last of the work
is only 2 weeks of work - and, i just can't swing it alone

story of my life -- NO one wants to be my partner
(and, i kept on creating a life, larger than just me)

or, people want you, after your life is simple !!!
(and, they don't seem to want to help you simplify it)

hmmm---then you got to wonder,
after your life is simple,
the big question is -- how simple, would your life likely be...
if then, you complicated with another person) LOL

breaking free-is so much fun !!!
+ xxx

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Old 08-21-2009, 06:23 PM   #12
Sarahmay
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Default Re: selling a house privately/or using an agent ???

Sending good energy--it "feels" like a good plan for you to sell.
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Old 08-21-2009, 08:36 PM   #13
THE eXchanger
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Default Re: selling a house privately/or using an agent ???

Quote:
Originally Posted by Sarahmay View Post
Sending good energy--it "feels" like a good plan for you to sell.
thank you sarahmay, and, thank you to all the rest of you
all your words, are good advise,
and, worthy of acknowledging

many thanks yous to all

Last edited by THE eXchanger; 01-03-2010 at 06:46 AM.
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Old 08-21-2009, 09:07 PM   #14
alyscat
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Default Re: selling a house privately/or using an agent ???

Exchanger - I sold 2 homes in the last year - mine and my father's - used an agent each time because I wanted to distance myself from the sale. For my dad's, I was literally distanced - several thousand miles LOL. It allowed me, also, not to get too offended when someone low-balled me on price.

If you've got potential buyers - I say, sell it on your own. If not, use an agent.

Good luck!
alys
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Old 08-21-2009, 10:05 PM   #15
Swanny
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Default Re: selling a house privately/or using an agent ???

Quote:
Originally Posted by eXchanger View Post
a boat is a good idea

thanks mr. S
Life boat would be best as it can take anything the sea throws at it
Good luck with the sail
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Old 08-27-2009, 05:41 PM   #16
THE eXchanger
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Default Re: selling a house privately/or using an agent ???

GOT 'ME' an angel investor
nothing like having a real 'angel' for a best friend
we were really recultant to ask anyone for help - anyone we know
would NOT believe we ever need any help - we always seem to get
through one month after another --
we think, we are raised as children, NOT to ask
so, we tabled a proposition-and, they said,
sure, no problem, how much do you want !!!
geez, that was easy !!!
also, we've got good friends who can do,
about $15,000 of work, for only $5000
so, everything, on a getting out of here,
looks real good

GOT another question:

if i was wording my for sale ad
would it be proper to say the following:

HANDY MAN SPECIAL - AS IS - MINOR THINGS left for you to complete
or, COMPLETELY DONE - AS PER your REQUIREMENTS

$399,999.00 as is
(2/3 already painted - 1/3 left to paint)

$410,000.00 (COMPLETELY painted)
- all floors, as is (fair/good condition)
upgraded trim, around windows, crown moulding,
and, proper moulding around the outside walls of all the rooms

$419,000.00
THE KITCHEN UPGRADED
granite floors in kitchen/2 bathrooms/and, main foyer
and, granite counter tops-new double sink

$429,000.00
SOLID hardwood in living room/dining room $429,000.00

*for an additional $2000-we can add a 2nd wood burning fireplace
to the basement level, already roughed in - currently a wood bookcase,
is built over the fireplace !!!

*fully finished basement

*laundry room/furnace room - NOT finished

We are in the process,
of finishing the last of a few simple renos
(so, depending on the amount of work completed--
this will result, in the difference of our asking price)
so 'the asking price' might vary
depending upon your viewing date

We are willing to have all the work NOT yet done,
to your specific requirements,
with regards to painting,
colour/type of hardwood,
and, colour of ceramic/or granite-or marble tiles !!!

is, that specific enough/and, make sense ???
+ xxx

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Old 08-27-2009, 06:29 PM   #17
pyrangello
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Default Re: selling a house privately/or using an agent ???

Exchanger, if you don't have the cash now to finish , don't even think about doing a deal where based on the selling price you'll finish it, that would be a can of worms. Shoot high on your price, you can always come down. If you have that many inquiries think about how high you want to ask and have a set # on how much you'll settle for before you even list the property.

Sell it yourself, you can since the demand is there in your area, you can write the contract up on a form from the office supply, Ex. $1000.00 down non-fundable when you sign for the selling price, loan to be approved and close within 90 days or home goes back on the market and you have 30-60days to move out . Just a sample. the most important issue is obtaining the title work/insurance on the property and the transfer of the property on the day the checks change hands, the title company should be able to set up a closing date and transfer and payoff when you have it all in place. that really is the most important issue, a clear title transfer and you recieving your money , if you have a mortage the buyers will come to the table that day with 2 checks, one for you and one for the holding mortgage company. he title company records it all and makes sure everything is trasferred in their office.

As far as the listing, i would just give a description of the house, Ex. Home on 1/2 acre lot , close to town, 3 bedrooms, 2 baths, master bath is 300 sq. ft with sauna,walk out basement to the pond, home needs some cosmetic finishing , good schools, xxxxxxx

your selling it as is.

Hope that helps.
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Old 08-27-2009, 09:41 PM   #18
THE eXchanger
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Default Re: selling a house privately/or using an agent ???

i got my basic ad done --
with all the, as is - specs

that was just the add on --
if you want this/or that done too
(what isn't finished)

thanks for the ideas
going to draft up a floor plan - over the weekend
as is, asking 399,999
(already got all the as is, details on another page)

i'm likely to get a bit of bidding war going
since, i have quite a few interested parties already
and, everyone is a "cash buyer"
none on the list, need any financing-so, that is real good
all of them downsizing from million $ mansions-in the same area
(so they are mortgage free) geez-i wonder why !!!
i will only accept an offer with at non-refundable
5 or 10% certified check -- plus the cost for my lawyer
to approve their offer --i've sold 2 other houses privately,
however, i've always utilised an agent to buy.
+ xxx

Last edited by THE eXchanger; 01-03-2010 at 06:48 AM.
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Old 08-27-2009, 10:55 PM   #19
Tango
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Default Re: selling a house privately/or using an agent ???

All Buyers should be pre-qualified... Before writing an offer !!!


Title Company, can write the offer, do a Search and hold, NOW;
they can do the Closing Statement, A mortgage company may want the
repairs completed before the closing. No problem; have your
contractor submit their statement to the title company for which
they will be paid out of net proceeds. Your contractor will
have to sign a lien waiver; before the closing at the title company.

A property must have a Title Policy anyway... [insuring fee simple ownership]

Best of luck X; becareful who you let in your house... Never let
someone walk through by themselves [sticky fingers].


Trooly,


Tango

Last edited by Tango; 08-27-2009 at 10:57 PM.
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Old 09-04-2009, 01:48 PM   #20
KathyT
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Default Re: selling a house privately/or using an agent ???

I've sold several properties all on my own, no agent, no attorney, no notary except at the Title company for closing documents. The Title companies will notarize any closing document which needs notarization. And I've also hired an attorney to look over my papers on one specific large sale I did. Paid by the hour.

But I also have had training in real estate, took classes at a college.

There are books out there on how to sell your own home, I think Nolo is one. They do it specifically by state, including forms.

One of the most important parts is doing proper disclosure documents, having the buyers sign.

If you don't know all of this, you're going to need help somewhere. There are some good real estate forums elsewhere.. Here is not where you'll get good real estate help/advise.
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Old 09-04-2009, 01:53 PM   #21
THE eXchanger
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Default Re: selling a house privately/or using an agent ???

it's quite simple here in canada -- since, your attorney,
and, the buyers attorney, handle everything

and, yes, proper disclosure / or, as is - agreements,
need to be in place

and, pre-qualifying buyers, is very important

fortunately - this house, is in good shape

and, needs one thing - that, i am replacing next week

thanks for everyone's input

also--it was suggested for me to take many, many pictures

this time of the year--so, that, if it sells in winter,

they will know what it looks like, at the end of the summer

(thanks for that idea, via private email)
+ xxx

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Old 03-05-2010, 08:10 PM   #22
THE eXchanger
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Default Re: selling a house privately/or using an agent ???

we've been thinking about this for a long time
it is NOW, time to do it
we are NOW starting a process to dispose everything...
only way to do that, is intense focus,
for perhaps 30-60 days
(if we appear absent, we are not)
we will still be there in spirit
it is time to start

~ THE CONVERSION


fortunately; the house has risen in value
and, is worth quite a bit more, than if,
we had sold it back in 2008 or 2009

~THERE are some rare collections we have
so, the first one, to go
is stuff previously owned by
Dr. Charles Muses / The Lionpath
he was a scholar/and, mathematican, etc.,
travelled a lot to india; etc.,
~5 very rare items
(perhaps, we might consider putting up some links to things,
and, if anything sells from PA/PC
- we'll donate a portion to Bill ???)
or, is that, against the rules ???
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Old 03-05-2010, 08:57 PM   #23
sjkted
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Default Re: selling a house privately/or using an agent ???

Hi eXchanger,

I'm not sure what the market is like over there (it stinks here), but you might want to get an appraiser involved. If you have multiple interested parties, you might be able to fetch a much higher price if all of the work has been done. On the other side, some people might not be willing to bid on a house that needs work. They should be able to give you an idea how your property should sell in relation to other prices in the neighborhood.

You can sell it yourself. The only thing to avoid is getting too emotionally involved in the process. Determine what you are willing to negotiate beforehand and if a potential buyer isn't willing to play ball, just find another buyer.

Good luck!

--sjkted
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Old 03-06-2010, 01:54 PM   #24
shybastid
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Default Re: selling a house privately/or using an agent ???

This is a no brainer. If you already have potencial buyers,do not hire an agent. Agents are great to get your house listed on multiple listings on the internet to showcase the property to many potencial buyers.
You have already done your homework about the value. Agents are good for that too...but you don't need them for that.
Get a GOOD escrow company. They will write up all the required paperwork for you. They will also hold the monies, do the due diligience,then hire the title company,record transfer of deed,then release YOUR monies.
They will create a "punch" list for you.
Thats who a lot of real estate agents depend on anyway. The Escrow Company. Save the commissions and split the savings with your buyer.
3% is 3 grand per 100k. Adds up quick.
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Old 03-06-2010, 02:05 PM   #25
shybastid
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Default Re: selling a house privately/or using an agent ???

Agreed SKJ..Once asking pricing or final price has been negotiated,an appraiser will confirm it for the buyer.That's the buyers responsibilty.
Also,your buyer may have an agent that has been showing them property and they feel obligated to pay them a commission.No problem..ADD 3% to the price.That's not your problem.YOU don't need an agent.
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