The Cons Of Going FSBO (For Sale By Owner)

Selling your home can be stressful. With all the options available to you, you can't help but wonder if you're doing it the right way. Maybe you've thought of going it alone in hopes of making a bigger profit. While selling your home FSBO (for sale by owner) puts you in control of the price of your home and who you sell to, it also has a number of drawbacks. Read on to learn more about why selling your home FSBO might not be the best choice. 

Can You Stay Objective?

You love your house. You've made memories there for years, or maybe even decades. There are a lot of your emotions tied up in this property, so if you want to sell FSBO, it's important to be realistic about if you can accurately price your home without letting your feelings get the best of you. Even if you've looked into market trends and researched what other similar homes in your area were sold for, you might find yourself pricing your home too high because it has personal value to you. 

And because you feel so close to your home, it may be difficult to let go. If you show your home to someone who criticizes your personal style or taste, you may be hesitant to accept an offer from them, even if it's a good deal. You may find yourself worried that they might change your beloved home too drastically, even though it won't belong to you anymore. In the same vein, buyers may not want to buy an FSBO property because they've had to deal with touchy sellers in the past. 

You must be able to stay objective when selling your house. This will make it easier to price your home fairly so it will sell without much hassle, which means a quicker sale for everyone involved. 

Sales and Marketing Experience Is Important

Be honest, have you ever sold anything before? Your house is likely the most valuable thing you own, so even if you do have sales experience, selling a house is a whole different ballgame. Showing your home is all about marketing it and making it look as attractive as possible. Even if you've taken a business or marketing class, there's likely a lot you don't know. Make sure you understand trends in pricing and how the markets work, plus all the legal aspects of buying and selling a home. 

Does Anyone Like Negotiation? Paperwork? 

Negotiating a good price for your home is neither fun nor easy, and there are countless people you'll have to negotiate with throughout the FSBO process including the buyer, their agent, home inspectors, and appraisers. If you don't like negotiating or aren't very good at it, that's tough. You'll have to do it again and again until you sell your home. 

And there is plenty of paperwork that's easy to miss if you don't know what you're doing. While it's easy to download all the necessary forms online, how do you know if you're filling them out properly? How comfortable are you with titling? What do you know about escrow? Getting some of this wrong can hurt you in the future. 

Or you can simply choose to get a cash offer on your home. This is one easy way to avoid negotiation and paperwork altogether and get money for your property quickly and easily. Selling your home for cash is a no-hassle way to get a great deal. 

Avoiding Scams and Errors

Can you recognize a real homebuyer from someone who is trying to take advantage of you? Even if you are extra careful, it's hard to make sure that everything is on the up and up, especially if you've never sold a home before. The moment you sign a contract and everything is in writing, you are bound to it. This means that if there was a mistake in the contract or you've signed your home over to someone who is trying to scam you, you're out of luck. And scammers prey on FSBOs, so you have to be extra careful. Simply selling your home for a cash offer can help you make sure you aren't getting ripped off. 

Do You Really End Up Making More?

Though upfront, it may seem like you're making a greater profit on your property, there could be something you're missing out on. It's important to remember that time is money. How much time did it take you to research everything you needed to know, list your home, market it, show it, complete the paperwork and negotiations, and everything else? And if you didn't price your home correctly, you could have missed out on even more money. After all, you want that money in your pocket faster.

Contact us to learn more about getting a cash offer on your home now. FlashHouse is the best and safest way to sell!