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I need to sell my house ASAP…

Will I have to pay to have my home appraised first?
How much would that cost me?
And how much can I expect to get tacked onto the price of my home to cover a realtor’s commission?
Would I reasonably be able to sell my house “by-owner?”

9 Thoughts on How do I go about selling my house?
  1. Reply
    October 15, 2011 at 12:16 am

    Talk to a realtor.

  2. Reply
    nick M
    October 15, 2011 at 1:13 am

    Ummmm.. Thats a hard one!!!

    Yes I thnk you do and I’m not sure how much!

  3. Reply
    October 15, 2011 at 1:22 am

    the buyer will need the appraisal i their name so , no you don’t have to get one.

    You can still get one if you want just to see – it should cost about $ 310 for a single family home (PA – Phila. area pricing)

    IN PA, average brokers take 3 – 10% – most I know take 6%

    I have no idea about buy-owner but keep in mind it’s a tough market right now

  4. Reply
    George H
    October 15, 2011 at 1:48 am

    Your best bet is ALWAYS to contact a licensed REALTOR. No other answer will give you more for your actions.

  5. Reply
    October 15, 2011 at 2:47 am

    Will I have to pay to have my home appraised first?

    You can, but an agent will provide you recent comparable home sales data for free.

    And how much can I expect to get tacked onto the price of my home to cover a realtor’s commission?

    You normally pay a percentage of the sales price, 6-7% to the listing broker or a combination of the listings and selling (buyer’s) broker, but you don’t want to overprice your home to make up for the fact that you’re paying commission. The implication I get from your question is that you want to go (market price + amount of commission = list price), and that’s a recipe for not selling because it will put you above market. If the goal is to sell fast, you should list the home at least 10% below market value.

    Some brokers offer a limited services package, and the services it includes depends on what your state’s laws require. The most basic is that for a flat fee, say $ 500, they’ll put you in the MLS, but everything from there is up to you. I think the major drawback here is that you pay that flat fee upfront without and promise you’ll sell your house. Go with a traditional listing agreement, and you’re not out a dime unless you sell.

    Would I reasonably be able to sell my house “by-owner?”

    If reasonably mean not quickly, the answer is yes. Not working with an agent cuts you off from being listed on the majority of real estate websites, which is where the majority of buyers are searching. Essentially, you’re cut off from a big chunk of the market.

    You’ll be tackling the largest financial transaction most of us ever undertake without the benefit of experience in the field. If you want to keep your tail out of court down the line, you’ll have to find an attorney who will have to explain to you what disclosures and inspections you are required to provide n your market, as well as help you draw up a proper contract. Don’t get sucked in to using a generic sales form because they are not going to cover everything your market requires.

    Also to keep in mind here, if you sell without representation, that’s no guarantee your buyer won’t have their own. If you’re not willing to pay a buyer’s agent’s commission, that agent may not show the home to you or the buyer may walk away because they don’t want to pay the commission themselves.

  6. Reply
    October 15, 2011 at 3:40 am

    You do not have to pay an appraiser before you put your house on the market. To find the rough appraised value of your house, you can contact your county assessors office to find out what it is worth tax wise.
    If you list with a Realtor, you will pay on average 6% commission. You pay on average 3% for your listing agent’s fee and 3% for the buyer’s agent. This varies from state to state so call an agent and ask what the fees are.
    You can try to sell your house by yourself. If you go that route, I would strongly recommend paying an MLS listing service to get your house on the MLS- multiple Listing Service. This allows every person and agent looking for a house to find your listing easily. Almost 60% of house buyers with an agent find the houses that they want to see by themselves on the internet MLS listings. Make sure that you put in the write up, that the price will be discounted if they come without an agent. You can then hire an agent to do the paperwork for a few hundred dollars.
    The housing market is very competitive right now so you need to make sure that your house is in perfect condition before you put it on the market, either by yorself or with an agent. Start by giving the house a thorough cleaning. Then start Pre-Packing. Pack up all the knick-knacks and all of your personal photos and decorative items like dolls, figurines, items that are a specific style like SW. Paint any rooms that are strong colors. Neutrals and whites are your best bets. You want your house to appeal to the max number of people. Clear off your kitchen counters leaving only the coffee maker and the toaster and the bathroom counters should only have 3 white candles. This is a great time to par down your furniture if there is too much in a room. Open floor space and very few items are the key. I do home staging for a living and I have had 2 clients, in the last few months, whose houses were on the market for 11-12 months without an offer. Once I came in and de-cluttered, picked new neutral paint colors and really clear out the extra STUFF, the houses both had offers in 2 weeks and sold within a month. If you can get the house and yard looking great, the house will sell. Good Luck!!

  7. Reply
    October 15, 2011 at 3:55 am

    Of course!! You can sell your house yourself, however since you state you are looking for a quick sale, you may choose to use a Realtor as they have access to a much larger pool of possible buyers.

    The home appraisal cost would depend on where you live, in my area normal cost is about $ 500.

    Selling your own home can be a big job to tackle and before you decide whether to do it yourself or list with a Realtor, do some research at your local library, read up on what to expect. You can also get some great info. on the web.

    Your local Title Company is also a great source for help. You can get info from them on house sales that compare to yours, which you will need when deciding on an asking price. They are who you will use when you find a buyer, whether or not you use a Realtor, and they don’t charge you for their help!

    When considering an asking price, be sure NOT to over price it to start, thinking you need to start high so you can reduce it later, most times, once you lose a perspective buyer, they won’t be back, so be smart. Also, believe it or not, don’t set a price that is a round number, such as $ 250,000, something like $ 247,632 will sell faster and you won’t get as many counter offers. (if you want to know why you can E-mail me)

    GL!! You can do it if you have the time and patience, it’s not all that hard and you get to keep more $ in YOUR pocket!

  8. Reply
    October 15, 2011 at 3:58 am

    In this market? Good luck

    Talk to a few Realtors not just one to get a sense, but in general if you purchased within three years or so, most likely you will have negative equity in the house, or refinance in the last three years, but if you have had the place over five you should have enough equity to get out in a bad market

  9. Reply
    Terry S
    October 15, 2011 at 4:48 am

    First off DONT pay for the appraisal.

    Whomever buys your house will most likely NOT be able to use it.

    The banks like to use their own appraisers.

    Second, call a few Realtors and see if there is any equity available to pay them.

    You may find you owe more on the home than it’s worth.

    In that case you will have to market the home yourself or offer it as a rental unit.

    Get professional help.

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