Why a Private Sale May Work for You

Chances are you have seen for sale signs around your neighborhood that have been up for a long time. Due to the economy over the last decade home sales have been sluggish at best because home buyers are finding it difficult to get loans and home sellers just area;t getting the prices they had hoped for. Chances are you still have a mortgage on your home and when you couple in real estate fees and lower offers from buyers it just might make sense to do a private sale to save yourself some money. With the economy still sluggish and home sales not doing well it’s imperative that you get the most for your property and with real estate sellers fees still hovering around 6% that could mean saving quite a bit of money.

In some cases there is just no way a homeowner will break even in today’s market and that means every penny counts. You need to make sure that you are well versed in your states real estate laws and practices before you decide to do a private sale. You will need to meet certain requirements such as inspections and you will need to take care of all the details yourself, which can be very time consuming. The major power of a real estate agent isn’t the for sale sign in the yard but the listing services they use to list your house to other agents and potential buyers. You can place listings as well on some of these services but others are restricted to licensed real estate agents only.

You can also place listings in your local classifieds, craigslist and at the local supermarket bulletin board. You are going to have to put the time and effort in but in doing so you can save yourself a lot of money when selling your own home.