Before you set out on your own to sell your house, there are a few things you ought to know about the housing market in New Jersey. It’s true that you can do a “for sale by owner” listing in the state, but the time spent, costs, and effort you need to put in usually prove to be much more than you’d expect.
Hiring an agent to sell your house for you can typically get you more money for your home, but they can charge high commissions and listing fees. So,if you decide to sell your house by yourself, take note of the costs and what you’ll have to deal withby not hiring a realtor or sales agent.
1. You mustdo your own advertising.
There are different ways to advertise your home for sale. Use only what’s right for your budget and for thetype of buyer you want to attract. You may use signage, flyers, posters on community billboards, listings at online selling sites, and more. You may also advertise your house for free—you can do so by joining community pages on social media sites like Facebook. You don’t have to use every method available, just use a combination for quick results.
2. You have toanswer inquiries.
Depending on how many ads you put out there and how well you did your marketing, expect a lot of inquiries via phone and email. Your phone may be ringing off the hook at all hours and your inbox may be flooded, so you might want to stipulate when you’ll be open to answering questions. When the calls come in, you’ll have to answer questions and set appointments for prospective buyers to view the property. This can be a lot of work, especially if you did your advertising well.
3. Youneed to stage the house.
Staging the house means that you’ll have to clean it up and make it show-ready for would-be buyers who will view the property. Staging can also mean adding decorative touches to make the house look more appealing to buyers. If you’re using staging items that are included or not included in the sale, be sure to mention this to interested buyers. The house should appear professionally cleaned. If you’re showing the house yourself, you’ll have to be available for appointments. Don’t commit to viewing appointments if you’re unsure of your availability.Also, don’t get defensive if a potential buyer comments negatively about the house.
4. You have to do the repairs.
If you want to sell your house fast and for a good price in New Jersey, you have to do, or at least oversee,any necessary repair work.Whatever small damage or defect that has gone ignored over the years will have to be fixed professionally. By selling the house yourself, you’re left to decide if any major repairs need to be done, and you have to find your own contractors to do it. Don’t decide to make major repairs on-the-fly; check if the repairs you plan will add value to your home.
5. You have to handle the legalities of the sale.
Should you choose to sell your house on your own, you’ll be responsible for all the legal requirements. From drawing up the contract to preparing the Deed of Sale, the escrow process and other legal requirements, you have sole responsibility for their compliance, timeliness, accuracy, and completeness.
6. You have to be patient.
Taking the DIY route in putting up your home for sale, handling your home listing, completing the process and closing a deal can take anywhere from several weeks to several months. The timeframe can take longer when you do it all on your own. There’s also the risk of a sale not pushing through due to a low appraisal. You can’t rush these things if you want a satisfactory deal.
Selling your home by yourself in New Jersey is entirely possible, but it may take longer than you’d expect or like. A better option is to hire Savannah Properties to assist you with selling your home. By selling your home through Savannah Properties, you free yourself from the burden of doing all the legwork and paperwork and have all the marketing, advertising, and legal requirements done by our team of professionals. We can save you time and money, and get your home sold for the best price at a much shorter timeframe.
Learn more about the benefits of selling your home through Savannah Properties and contact us today via email or phone at (609) 622-4051.