Guests - If You want access to member only forums on FM. You will gain access only when you Sign-in or Sign-Up on Fishing Minnesota.

It's easy - LOOK UPPER right menu.

  • RECEIVE THE GIFTS MEMBERS SHARE WITH YOU HERE...THEN...CREATE SOMETHING TO ENCHANT OTHERS THAT YOU WANT TO SHARE

    You know what we all love...

    When you enchant people, you fill them with delight and yourself in return. Have Fun!!!

Sign in to follow this  
SCUMFROG

How can I sell my house?

Recommended Posts

SCUMFROG

Has any one ever sold a house on they're own. I really need to move and don't want to pay a realitor to sell my place.

How do I get together all the paperwork and stuff? confused.gif

Share this post


Link to post
Share on other sites
picksbigwagon

Girl I work with did it a couple of years ago, they had a company that solely did the legal paper work, cost them very little, but was a source of legal opinions and to make sure everything was on the up and up......I wished we would have done that. I will ask her what that companies name was.......

Share this post


Link to post
Share on other sites
SCUMFROG

Thanks.

I've seen those "we buy ugly houses" ads, and some one told me they only give you what they think the house is worth. I need to get at least what I owe.

Share this post


Link to post
Share on other sites
lawdog

Any general practice law office can prepare the paperwork for you. I do tons of real estate forms here for realtors and for people going on their own. Its not rocket science to sell you place...

Share this post


Link to post
Share on other sites
marine_man

I haven't ever sold a house by owner but did purchase one from a owner directly (no realtor). It was pretty simple... I paid the a lawyer $75 to draw up the purchase agreement, they paid the lawyer to get the abstract updated and the closing company (provided by the bank since we had to get a mortgage) took care of the rest of the paperwork.

It was pretty simple...

marine_man

Share this post


Link to post
Share on other sites
BobT

The most important thing to remember is "Get everything in writing". NEVER assume anything. If you already have a buyer you certainly don't need a real estate agent. I would recommend hiring an attorney to be sure the paperwork is done correctly. You don't want loop holes to haunt you some day later on.

I sold a house on a contract. We went to a local office supply and they had generic purchase agreements and contract for deed forms. We just ammended as we agreed. They were very helpful by reminding of such things as earnest money, down-payment, well disclosures, taxes, abstract, title searches, etc.

Bob

Bob

Share this post


Link to post
Share on other sites
IT Guy

I sold my last house by myself and used Direct By Owner. They put it in their magazine and on the web. It was about $1,000. I also contracted them to do the closing which was a bit less than $1,000. I would do the last part myself next time.

In my opinion, you just need to get your house on the internet. A lot of agents just troll the net looking for houses - same as you can do.

Buying / Selling a house is easy - finding the all the stupid required paperwork is the trick. A lawyer and closing company can do that for you.

Good Luck!

Share this post


Link to post
Share on other sites
barnyard

We bought the house we are in now directly from the owner. She went online and found all the paperwork. It looked exactly like the stuff we got from our 1st realtor. We had everything in writing and it went off without a hitch.

Tom B

Share this post


Link to post
Share on other sites
CanOCorn

If you aren't in a hurry, try it on your own. Otherwise, with it being a "buyers" market right now you may be wise to make the investment with an agency. I know that a real estate works in two directions. One, the buyers agent who incurs the advertising costs, MLS listing costs, etc. Second would be the sellers agent. I know from past dealings that a sellers agent will not even look at for sale buy owner properties to show their clients. It sucks but may save you a lot of headaches down the road to just list it with an agent.

Share this post


Link to post
Share on other sites
mtreno

cause the selling agent makes no money selling them a house for sale by owner.

help you sell

direct by owner

buyself

three places to check out. they all help you with paperwork for a small fee. they get your property listed on the minneapolis mls system and get you signs for your yard with handouts.

you will be paying a listing flat fee. you will also be paying the sellers agent 2.8% fee. but they will show your house cause they are getting paid - you have to remember nothing in this world is free and you get what you pay for...... want to pay half price? well this is the way to do it but your getting half the service.

Share this post


Link to post
Share on other sites
SCUMFROG

Thanks for all the info. I just don't want to get hosed on this or hose any one else. I will get a hold of a lawyer and see what they can do for me.

Share this post


Link to post
Share on other sites
FishingFather

I sold my last house on my own about two years ago. We put the brochures outside and did an open house ourselves. We put an ad in the Star Tribune and the city paper and had big banners out in the yard so you could not miss it. We had a little blurb in the ad stating indicating we would work with buyers represented by a realtor but that the price we had listed was not guaranteed. I wasn't going to pay someone else's closing costs to purchase the house. We had a realtor who was willing to do the paperwork on the side for $500 so we didn't need a realtor for either us or buyer. We sold the house the first weekend (the market was pretty good then). The buyer had a realtor so I agreed to pay $1000 of the closing costs but their realtor had to do all the paperwork for the close (I figured it was going to cost me $500 either way) and then we tacked on the difference to the price of the house.

I found it much easier than having a realtor because I got to decide when people were coming into my house rather than those last second calls saying someone wanted to look at my house...ugh!

I am not sure if I would ever try to sell my house at first with a realtor.

Share this post


Link to post
Share on other sites
IFallsRon

I have some pdf papers I'll share. Send me an e-mail: Ifallsron at charter dot net.

You don't need a Realtor. They will, however, do some of the hand-holding that many buyers need plus they have lists in their pockets of people looking for certain kind of houses.

Most attorneys can help with the proper paperwork.

Share this post


Link to post
Share on other sites
PierBridge

It's a big red flag IMO.......and I believe it will make it much more difficult to sell your house.

I have sold two properties myself but this ain't your Daddys "cupcake" market anymore.....

Good Luck my guess is after 2 or 3 months on your own you'll pony up a realtor....

Don't Do it.....

Share this post


Link to post
Share on other sites
perchking

I sold my house in Grafton Wisconsin in 3 days FSBO. I saved over 25K in real estate fees.

Opps I forgot my wife is a Lawyer and help out a little bit also.

Share this post


Link to post
Share on other sites
mtreno

i would be real careful using a lawyer. i have been in more than one deal that has had huge proplems just cause the seller wanted to save a few bucks. ya the paper work is not rocket science - but it changes all the time and the market moves quickly - we get a good laugh around the office everytime we get a call from some lawyer who "took a property law class in law school". if you use a liscensed realtor and there is a problem - if falls back to that agent and that agents company - the first form a attorney will have you sign is one saying he is not liable for any leagal problems

not saying there arnt any good ones - just be carefull who you work with

grab a sign - put it up - make some flyers - run an add - have an open house or three - give it a month or two - and see what happens - you never know you may sell it the first day! the market is really slow right now anyway so you may as well make it a learning experiance. when you find a buyer and if they are not working with an agent - worry about it then...... usualy not to hard to find someone to do them for you once you have a buyer anyway - tac 1k on to the sales price and call around a bit you will find an agent willing to help ya out for the $

Share this post


Link to post
Share on other sites
Ely Lake Expert

I was working as a Realtor and I am still licensed, but now I am in the insurance business because of the excessively high number of people trying to be realtors made it not worth my time.

Anyway,

fsbo's do sell, but if you are in a hurry to sell I would go get a Realtor right away. By selling through a realtor you get a whole lot more exposure to a bigger group of buyers, especially what was previously said, most realtors either would already have a buyer in mind or at least someone in that specific company would have someone in mind. People may not know, but most companies have a weekly staff meeting where all new listings that week are discussed and at least where I worked we would also go on a group tour of the new listings. Also alot of the more experienced realtors know every realtor in the area no matter what company they are with so that covers even more. Another thing with fsbo's, from what I have heard alot of people that look at them either aren't serious buyers or do not have the credit rating to get the proper loan. All in all, it may seem expensive to sell through a realtor, but you can raise the price to make up for it and with the connections they have and the money and time the spend on advertising, especially if you want a quick sell listing with a company is well worth it IMO.

Ryan

Share this post


Link to post
Share on other sites
SCUMFROG

I really can't afford to pay a realtor. That's why I'm trying to do this on my own. I'm thinking of using one of those asset u sell or help u sell places. I've talked to a title place and that's what they recommended. Has any one heard any thing bad about them?

Share this post


Link to post
Share on other sites
Ely Lake Expert

Scum,

As far as paperwork is concerned helpUsell or whomever you choose can help you with that, but the big negative with those type of companies is advertising. The market exposure is not nearly what it is compared to a coldwell banker, century 21, or remax. Whomever you choose, I hope you get a quick sell and everything works out well.

Ryan

Share this post


Link to post
Share on other sites
upnorth

The biggest thing you will need it to find a way to market your house to buyers. You can do that through ads, flyers, open houses etc.

Once you have a buyer then you want to contact a lawyer to make sure you have everything in order on the purchase agreement. You really need to get everything down as to what is purchased and who is responsible for what as far as any taxes or assements etc. You can also have the lawyer close the deal for a fee depending on the financing.

If you are serious about selling yourself call a local Real Estate agency most will do a free market analysis. You can use what they find as a pricing tool. You can also ask them about their marketing plan and maybe mimic it the best you can.

Share this post


Link to post
Share on other sites
ChuckN

I sold my house myself and it was fairly easy. Held a two weekend open houses, made some nice flyers, advertised in the paper and sold it on a Saturday after 2 weeks of advertising. The buyer did not have a realtor either. Granted, this was over 4 years ago, I think the market was much better than today, so you may have that against you, skumfrog.

I obtained disclosure statements from a realty company (all online) and sat down and filled out the paperwork with the buyer. I think the most important part of the sale is DISCLOSE everything. I don't care if you had a mouse in the house 4 years ago....just don't hide anything.

I know several lawyers and they all said go through the purchase agreement, get everything in writing with a sufficient down payment, work out the contingencies, and arrange a tentative sale date. And finally, turn over your paperwork to a closing company (law firm, typically) and they will do the rest (abstract, title work, contact the mortgage companies, handle money, etc..)

I was fortunate it was that easy, but dealing with difficult people is the toughest part. I feel for realtors from experiencing just some of the nightmares when purchasing our current home.

Good luck!

Share this post


Link to post
Share on other sites
Down Deep

I've sold two houses without a realtor. You can avoid the commisssion, but it is not a free ride. Most likely you will have some marketing costs and you have to be available to show the house.You will have to do some research into the pricing of your house and it will usually take longer to sell than the average house on the market.The two houses I sold were flip houses so I knew what I had in them and what I wanted so my pricing was easy. I didn't really care how long they were on the market although the market was hot and both sold in less than 60 days. I wouldn't want to make a pricing assesment on my personal home. You will also have to let anyone look at the property that wants to. Both houses I sold were empty so security wasn't that big an issue, but I'm not so sure I would want just anyone walking the house I was living in without some form or screening. Also, be prepared for some real low-ball offers. The one cost you do not want to avoid is the cost of an attorney. A mistake at the closing or on the contract can cost you the money you save on the commision and might be even more. There is lots of informaion on the web on how to sell a house. Your mortgage company will have some info as well.

Share this post


Link to post
Share on other sites
toonfish

My company can help you with some questions......I own my company and we run a free sellers assistance program. Shoot me an e-mail and I can help you out getting started and get you set up with some of the basics. My personal e-mail is benschnack at hotmail.com.....e-mail me there and then we can make contact by phone and help you out.

Share this post


Link to post
Share on other sites
eurolarva

We sold ours last year through buyself.com. If you use one of their agents to buy a different house they will cover the mls listing all the showings and the paperwork. They give you everything you need to sell the house. If you are in a hurry to sell you will want to open it up to agents which means you will still have to pay 3 percent instead of 6 or 7 percent. Nice thing about having an agent to buy a house is the price is already fixed and the seller pays for your agent.

Share this post


Link to post
Share on other sites
Mr. Pike1

When my wife and I got married we each owned a home and I used Direct By Owner. That was 5 years ago and the housing market was a "sellers" market. You are now in a "buyers" market and moving a property even with a realitor will most likely take 3-6 months and you will most likely get less for your property as the buyer has many many options in the market place.

Anyway by using Direct by owner and then a closing company to finalize the deal we saved 25k on each of properties by not having to pay the 6-7% in realator fees. There are risks but in the end it is your property and I decided I could better use the 50k to buy some toys and furnish the new house. Again when we sold it was a buyers market. Both properties sold after the first showing and we had multiple offers on each.

Using a realator when it is a tough market like today will have its advantages. If I were you and you can wait I would wait to sell until the market turns back in your favor.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this  



  • Your Responses - Share & Have Fun :)

    • Rick
      Spring turkey hunters hoping to bag a tom during the first two weeks of the season have until Friday, Jan. 26, to apply for a lottery permit. The season runs from April 18 to May 31 and is divided into six hunt periods, A through F (see table below). Hunt A and B licenses for firearms hunters age 18 and older are limited in availability and assigned via lottery drawing. Turkey lottery applications cost $5 and can be purchased online at mndnr.gov/licenses, by phone at 888-665-4236, or in person from a license agent. Successful applicants will receive a postcard in the mail by mid-February and can purchase their hunting license starting March 1. Firearms licenses for hunts C, D, E and F are not lottery-limited and will be available for purchase over-the-counter beginning March 1. All licensed turkey hunters can participate in Hunt F if they have an unused tag from one of the earlier hunt periods. Archery and youth hunters (under 18) are exempt from the lottery and may purchase a spring turkey license valid during all hunt periods, including hunts A and B. Surplus lottery licenses from hunts A and B, if available, will be sold over-the-counter starting in mid-March. Visit mndnr.gov/hunting/turkey for more information about turkey hunting in Minnesota. 2018 Spring Turkey Hunt Periods
      Hunt A: April 18 – 24
      Hunt B: April 25 – May 1
      Hunt C: May 2 – 8
      Hunt D: May 9 – 15
      Hunt E: May 16-22
      Hunt F: May 23-31 Discuss below - to view set the hook here.
    • Rick
      Youth and adults can learn to hunt turkeys this April with experienced volunteers who will cover safe hunting techniques, how to call-in turkeys, hunting tactics and field dressing a bird. “We teach the skills and techniques that allow new turkey hunters to become lifelong hunters,” said Mike Kurre, learn-to-hunt program coordinator with the Minnesota Department of Natural Resources. “This has been a successful program and as a bonus, we love hearing how former participants go full circle to teach others how to hunt.” Participants can apply through Monday, Feb. 12. The hunts are Saturday, April 21, and Sunday, April 22, and provide opportunities to access locations that may otherwise be closed to hunting. “We get volunteers from the National Wild Turkey Federation and this is the 16th year we’ve cooperated for these hunts,” Kurre said. “Over the years we’ve introduced more than 5,000 people to these hunting experiences. We also work with the Minnesota National Guard to get military adults and their families into turkey hunting.” Details about how to apply and costs to participate are available at mndnr.gov/turkeyhunt. A pre-hunt orientation is required and all participants will need to have a valid firearms safety certificate or its equivalent. Youth must be accompanied by a parent or guardian. Overall participation in the hunts is restricted by the number of volunteers and private lands that are available. Anyone interested in providing turkey hunting land for the mentored youth hunts should contact the Keith Carlson, Save the Habitat Save the Hunt coordinator for the National Wild Turkey Federation in Minnesota at kcanoka@comcast.net.   Discuss below - to view set the hook here.
    • Rick
      Gov. Mark Dayton has proclaimed Jan. 20-28 as Snowmobile Safety Awareness Week in Minnesota. This an opportunity for the Department of Natural Resources, volunteer safety instructors, the Minnesota United Snowmobilers Association (MNUSA) and its 250 member snowmobile clubs to join together to recognize the importance of safe, responsible snowmobiling. “It’s a fun and exciting activity, but snowmobilers should always remember to make safety a top priority,” said Conservation Officer Bruce Lawrence, DNR recreational vehicle coordinator. “They should also always use common sense and keep a clear head when riding.” Here are some other key safety points: Snowmobiling and alcohol don’t mix – don’t drink and ride. Smart riders are safe riders – take a snowmobile safety training course. Always wear a helmet and adequate clothing. When night riding slow down – expect the unexpected. Know before the ride  – always check local trail and ice conditions. Cross with care. Know risks and be prepared – make every trip a round trip. One is the loneliest number – never ride alone. Ride safe, stay on the trail – respect private property. To legally ride a snowmobile in Minnesota, residents born after Dec. 31, 1976 need a valid snowmobile safety certificate. Options for both classroom and online classes can be found at http://www.dnr.state.mn.us/safety/vehicle/snowmobile/index.html People can find Minnesota snowmobiling events and activities on the MNUSA webpage: https://mnsnowmobiler.org/get-involved/mnusa/events. Discuss below - to view set the hook here.
    • eyeguy 54
      sounds like a hoot. hope to get there. 
    • Roscoe010
      Hi Wanderer, I am going up this weekend too.  Glad the weather will be warm! I will try a different pit this time, but had good luck last year.  I hope the fish will be active and hungry.
    • IceHawk
      Thanks Rick! Jeff hope to make it always a good time and laughs when you get a group of great people together. I usally do more jaw jacking  then fishing at these things but for me its just as much fun 
    • Rick
      I will donate a few goodies. I will send it to @Tom Sawyer if he messages me his address.
    • IceHawk
      Lol! Smurfy  Its not as easy to identify areas like the old days the ice towns in Mertens bay and in front of Steils old house on cedar island aren't there like years of past but she's still the same chain that you grew up on. And IMO better than when we wee younger. 
    • Wanderer
      @Roscoe010 I wanted to head that way yesterday but my fishing partner didn’t have that kind of time.  If I get there this weekend, I’ll let you know. Or hopefully someone else knows and will reply.
    • smurfy
      i'm considering going out sat to chase walleyes, cats or crappies................OK whatever will bite. whats frustrating is i live 5 mile from the chain, grew up in richmond and all these maps have me confused??????????
  • Share & Have Fun