Thinking about using an FSBO listing? Before you jump into the for sale by owner (FSBO) waters, it’s important to understand how the costs of this method of listing a home can cut deeply into your time and money. We’ll cover what you should know about using an FSBO listing to sell your house in Kansas City
While many homeowners undertake this difficult task on their own believing they will save thousands on commissions, more often than not they learn too late that this is not always the case. A study by the National Association of Realtors found, at least in 2018 that the typical FSBO (that’s for sale by owner) home sold for $217,900 while those who listed with an agent sold for $295,00, in theory, covering the cost of the commission.
So an agent-listed home should sell for more, but many homes that were sold by the owner needed a lot of work the owner was not willing or able to do and many Realtors don’t want to take on a listing that is in really bad shape.
On the flip side if you are selling your home FSBO, you may end up having a buyer who has an agent. That agent is going to ask you to pay them some percentage of the price of the home out of your proceeds or they are going to ask the buyer to tack on the commission on top of their purchase price. Either way, that buyer’s agent is going to get paid in Kansas City.
Setting the right price can mean the difference between a quick sale and your home lingering on the market. If you want to be certain you are on point, you should hire a professional appraiser who will compare your property to those nearest, which have sold recently. You may also wish to enlist the services of a real estate attorney to draft your contract. Advertising in today’s real estate marketplace means using professional photography, virtual tours, and staging the home, all of which can be expensive. All of these expenses are important details that you should know about using an FSBO listing to sell your house in Kansas City.
Another thing you should know about using an FSBO listing to sell your house in Kansas City is that buyers will almost always order an inspection of the property. If they find something wrong with the property structure, they may require you to fix it out of pocket before the property closes.
Are you available to show your house with 24-hour notice, or less? Ready for the phone to ring at all hours, often the calls are from pushy and eager buyers agents. Scheduling showings and making certain your home is always ready for walkthroughs can be extremely stressful and cut into important family time. Making certain you meet any pending deadlines for your transaction can also bring added pressure. The paperwork takes time as well, it’s important to be aware that all of these time-eating responsibilities come along with using an FSBO listing to sell your house in Kansas City
Buyers using traditional financing can waste your time by failing to qualify for their loan after going through all of the previous steps in a real estate transaction, this is another problem with using an FSBO listing to sell your house in Kansas City. Your buyer could have unexpected life changes or a change in their credit score or debt ratio since being prequalified. One thing you can do about it is to only work with preapproved or cash only buyers. Remember, try not to be insulted when working with cash only buyers, they’ll be expecting to pay less for your home due to the advantages that closing a deal in cash brings.
Using an FSBO listing to sell your house in Kansas City can be expensive and time-consuming. How long are you willing to wait? kcmoHomeBuyer typically closes within 30 days or less, By selling directly to kcmoHomeBuyer, you won’t pay any commissions or other fees, what we offer is what you are paid at closing. kcmoHomeBuyer saves you both time and money, we usually purchase homes as-is so you can avoid paying for repairs before closing You won’t have to worry about marketing costs or the headaches of showings. We make it easy! Just send us a message or call (816) 408-3600 today!