Trying to sell your house yourself can bring substantive rewards or unmitigated frustrations. Here are a few tips to smooth out this process:
- Decide a date when you would like to sell your home. If unsuccessful, then give the listing to a broker or take the home off the market.
Before advertising, allow time to tidy up the yard, clean up the interior, de-clutter the closets and clean out the garage.
- Paint your own yard sign? Don't even think about it. Buy one at a hardware store or pay a sign company to make one. Lock the house when you're not home.
- Newspaper ads should begin with the words "By Owner". Also give the address, asking price, the number of rooms and special details such as a marble floor in the foyer. Include day and evening phone numbers. Buy or rent an answering machine.
- Price the house realistically. Brokers interested in getting your listing might offer to do a free, no-obligation market analysis of comparable home sales in your area. Let them. It's a great tool to help set your asking price and a good way to establish contact with brokers. You might need one later.
- Prepare an information sheet for prospective buyers. Include details about each room, appliances, special assets, lot size, neighborhood, school districts, taxes and such. Include a photo of the home's exterior taken when the yard is at its prettiest. Work up a seller's condition report stipulating your knowledge of the condition of the home's structure, its mechanical, electrical and plumbing systems. (As required by Texas law)
- During an open house, hide all valuables and have children and pets visit a friend or relative. If the weather is inclement put a floor mat and umbrella stand in the front hall. Turn on all the lights, bake bread or muffins for a delicious scent, put out fresh flowers and new towels. Don't let people wander around alone. Always accompany them to each room and point out amenities.
- Get names and phone numbers from everyone who looks at your home. Offer to make them exclusions to any broker's contract you might enter into later. A day or so after someone sees your home, phone to ask if he has any questions. If you reduce the asking price or receive an offer, phone everyone who has seen the house to alert them to these new developments.
- Negotiate the price of the house dispassionately and bargain creatively. For example, to get your way on the closing date, offer to include the refrigerator. If you want to take the parlor chandelier, offer to leave the swing set. Be wary of offering a land contract, or help with seller-financing, to strapped buyers. Require interested bidders to divulge their occupation and employer, household income, major debts and proposed down payment. Do a credit check on them.
- Hire a Lawyer to guide you through the closing process.
