Home sellers often consider selling For Sale By Owner (FSBO) after discovering that most real estate agents charge thousands in realtor commissions.

CAUTION!!! Before you decide to sell your home yourself, you might want to ask yourself the following questions. You may find this task to be a bit more daunting than you had originally assumed.

1. Do you have all required deeds from previous owners?

2. Do you know of all unpaid liens or special assessments due for collection upon sale? Have you checked the assessment and assessor’s records?

3. What is the condition of the current title?

4. Did you complete proper Texas disclosure forms?

5. Have you considered all factors that would make the property difficult to finance with typical lenders? (Older homes, expansive lots, etc.)

6. Have you reviewed existing financing to determine whether it can be assumed? If so, have you contacted the lender to complete the transaction?

7. What is your current equity in the property?

8. Do you have a real estate lawyer to review all contracts and documentation?

9. How familiar are you with the local real estate market?

10. Is the property governed by a Home Owner’s Association? If yes, what restrictions and bylaws do you need to notify potential buyers of?

11. Have you considered the factors what will go in to choosing your asking price, and what amount of negotiation you plan to leave room for?

12. Do you understand the difference between pre-qualified and pre-approved?

13. Do you know which legal documents to prepare for a home sale and where to find them?

14. Have you got a current survey clear of encumbrances?

15. Do you know an appraiser and have you budgeted to pay for one?

16. Are you adequately prepared to balance offers and counter offers?

17. How comfortable are you with allowing strangers to enter and look through your home?

18. Do you know where to advertise for the best response?

19. Do you know what a Conditional Loan Approval letter is?

20. What state disclosure laws apply to you for termite problems, leaky roofs, and whether or not you are required to reveal ghost tales or crimes linked to the property?

21. Are you capable to help a prospective buyer obtain a mortgage?

22. Do you understand the differences between fixed, adjustable, or balloon mortgages?

23. Can you prequalify a potential buyer?

24. What happens if you receive an offer from someone who is unable afford your home?

25. Are there building permits for improvements? If not, what next?

26. Have you obtained an updated Certificate of Occupancy?

27. What closing costs are you required to pay?

28. Do you have a copy of the Lead Paint Disclosure form?

29. Do any environmental disclosures apply?

30. Do you have a CLUE report available?

31. Do you have a property condition disclosure statement?

32. Do you have a legal purchase document and a legal description of the property?

33. Is there a contingency clause addendum?

34. Does your state carry risks when a seller agrees to “carry back” a note from the buyer?

35. Did you realize your good credit rating can be ruined by your buyer’s default if you seller finance?

36. Have you heard that a clever buyer could stay in possession of your property for months after defaulting on the contract, and basically live for free off of your expense?

37. Were you aware that most buyer complaints involve alleged damages of less than $10,000, but it can cost thousands in attorney fees if you choose to defend the claim?

38. If you have read through all of these questions, you might be feeling somewhat overwhelmed at the idea of selling your home FSBO. Are you adequately prepared for the paperwork, documents, legal responsibility, the showings, fees, advertising expenses, the stress, and the headaches?

39. Or…Sell to a professional real estate investor for all cash now, eliminating all the above potential nightmares. Take two minutes and call us at 512-785-5404 today for more details. Learn more about all the benefits to you and “Why Us”. There is never any obligation and we guarantee our 100% attention

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