Expert, localized Los Angeles answers provided by Heather Roy

Ask Heather about: Mortgages, Finance, Taxes or Home Selling?
  

Selling On His Own

  Hello Edith: I plan to sell my house upon my retirement. Due to my limited income, I plan to sell it by myself (no real state commission). Please tell me pros and cons and web sites regarding this matter.
 
 

The two big dangers a FSBO (for-sale-by-owner) must avoid are selling for less than true market value, and getting the house tied up in a contract with a buyer who later can't or won't go through with the purchase. How to head off those problems requires more than I can tell you here. Realize that you can get rid of the broker, but you can't get rid of the broker's work. You'll have to do it yourself, and the job starts with study. Real estate agents must put in many classroom hours and pass examinations before they can even serve as apprentices to experienced brokers. So go to a bookstore and a library, and ask for help in finding everything you can read about home selling. As for where to find help on the web: I feel like Louis Armstrong when he was asked to define jazz--if you have to ask, I can't tell you. Start by Googling the subject. A major precaution: plan on involving your own lawyer right from the beginning.

 

 

    Edith
Originally published on May 29, 2005
 
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