Article Sphere Logo

For Sale By Owner

By Expert Author: J. Charleston | Article Abstract
Word Count: 425 words | Views: 53 view(s)
Nearly everyone who sells their house goes out and gets a realtor right away. But this isn't always the most economical way to get your house sold. Realtors charge an average of 6% commissions on the total price your home sells for. With the average price of homes well over $250,000, that can be as much as $15,000! And it only goes up with the price of your home.

In many cases, the commissions you pay a realtor can be as much as you've paid toward your house so far. Or it could also be as much as your house has appreciated in value. That means you can live in your house for a few years, sell it, and come out no further ahead than you were to start. You may as well rent for that matter!

Most people choose to use a realtor because they are afraid to sell their own home. But knowledge is power. If you learn even just a little about selling your home, you can do most of the selling on your own and come out ahead. For this reason, more and more houses are coming out on the market with the "For Sale by Owner" signs now than ever before.

Any money you can save on selling your home can be used for the down payment on your next home. Since you'd probably like to retire someday and own your home outright, this will only benefit you.

In addition to saving the money, choosing the route of "For Sale by Owner" can empower you with the option of lowering the price to make a quick sale. Even if you lower your price by 2%, you'll still come out ahead. Remember, a realtor will take about 6% in commissions. So you can still save 4% of the purchase price of your home... that's $10,000 on a $250,000 home.

Plus you'll get the added benefit of selling your home much quicker. If it's a buyers market, this can make the difference between selling your home in 30-days or waiting 10 months or more!

Please note that the phrase, "For Sale by Owner" is a little misleading. You'll actually still need a few key players to get the job done. It won't just be you and you alone. Unless you can pay cash for your next home (don't we all wish), you'll need a lender. And you'll also need a title company or in some locations, what's called a real estate attorney. In reality, you would need these two players even if you choose to use a realtor.
J. Charleston

About the Author/Author Bio

Avoid paying high realtor commissions. It's your house; keep the money you've invested into it! Learn a little more about the "For Sale by Owner" trend here .

Article Source: http://www.articlesphere.com/Article/For-Sale-By-Owner/22312

Article Submitted: 2006-04-22 | This Article has been viewed 53 times.

Rate Article

Related Videos

Pricing a Home (Selling your Parents Home)
Learn how to Decide on Price for a Home
How to Price Your Crafts to Sell Best
How to Sell Your Home
Home Selling Tips
 

More "Real Estate" Related Articles

 
 

Listed below are more articles related to the above article from the "Real Estate" article category.

People interested in the above article "For Sale By Owner" are also interested in the related articles listed below:

 
With the recession and the drop in house prices it is understandable to think that the housing market is all bad news at this point in time. However on the contrary it will probably be the best time ever to purchase a property. Especially if you are a first time buyer the time is perfect to invest in your very own property.
What are the characteristics of effective realtor websites, which provide you with new leads and help you convert them into clients? These kinds of sites can greatly improve sales and your income as a real estate broker when they have the proper design and tools.
Home sales over the past year or so have caused a mixed bag of emotions for many people. Many people have suffered a great deal of stress and anxiety over losing their homes and falling into foreclosure while many others are delighted with having the ability to buy into a market full of discounted homes, foreclosures, and short sales.
Another rise in foreclosures can have serious consequences to an already labored real estate market and related industries. Not only will another wave of foreclosures add devalued stock to the real estate market but may well also set back the recovery of the construction industry as well; more homes on the market will equate less homes needing to be built. A boost to the construction industry would help support the recovering economy.
Bronx foreclosed homes are a good way to move to New York City while spending less. The Bronx is a vibrant and densely populated area, a borough of the city. It attracts many artists and cultural icons and is considered a desirable place to live. As in much of New York City, rents and housing prices can be quite high in the Bronx due to demand. Bronx foreclosed homes are homes which have been repossessed, often after a homeowner has defaulted on their mortgage. Since sellers are willing to take less than full price for these properties to sell them fast, Bronx repo homes tend to be a more affordable way to buy real estate in this area.
If you have missed a payment or two on your mortgage and fear your home will become one of the many Atlanta Foreclosed Homes it is important that you work with the bank to save it. You can save it and there are many reasons why. Banks do not want to own properties on their books as assets. Many people think that the banks want their houses and they are going to kick them out right away. This isn't the case.
IDX MLS solutions are essential components of your website if you want to take advantage of the trend in which the number of foreclosure properties has been increasing. Investors who are interested in purchasing real estate owned, bank owned, or foreclosure properties are not one-time buyers and your business relationship with them could last for a long time. Therefore, it is only logical to exert much effort to win their confidence in you through the assistance of the IDX MLS search widgets that allow them to perform searches when they are on your site.
 
Article Directory Home All Categories Real Estate
 

Can't find what you're looking for? Try Google Search!
 
Copyright © 2005 - by Larry Lim, Singapore - Article Search Engine Directory at ArticleSphere.com™
All Rights Reserved Worldwide. All Trademarks and Servicemarks are the property of the respective owners.

Afrikaans Albanian Arabic Belarusian Bulgarian Catalan Chinese (Simplified) Chinese (Traditional) Croatian Czech Danish German English Estonian Filipino Finnish French Galician Greek Hebrew Hindi Hungarian Icelandic Indonesian Irish Italiano Japanese Korean Latvian Lithuanian Macedonian Malay Maltese Dutch Norwegian Persian Polish Portuguese Romanian Russian Serbian Slovak Slovenian Spanish Swahili Swedish Thai Turkish Ukrainian Vietnamese Welsh Yiddish