I have a small 3br/2bth brick home on 2.5 acres that Im interested in selling in southern OK. I have never sold a house before. This property will have to be sold "As-is" for a number of reasons. So I'm told this limits the buyer to a conventional loan or cash since the house will not pass inspection and Im not planning to do any repairs to it. Have any of you sold a home yourself without going thru a realtor? Was it difficult? Any lessons learned or regrets? Any advice? Im pretty clueless as to this process start to finish so any guidance would be appreciated. The property has not been appraised or surveyed since early 2000's when my Dad was getting divorced. The housing market up here seems to be absolutely insane right now so I figured it might be a good time to sell it to someone wanting a "country home".
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Advice on "For sale by owner" home/property.
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Originally posted by sailor View PostWhat repairs are needed..............??????
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Just make sure it’s an actual cash buyer. Most of the time a wholesaler will try to get it under contract for 45 days and they try to flip it to a true cash buyer. If they don’t make it happen they just let the contract go back. Once you get past the wholesalers a title company can do everything you need for the transaction. A true cash buyer can close in 7-10 days as long as title is clear.
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Originally posted by kparker158 View PostJust make sure it’s an actual cash buyer. Most of the time a wholesaler will try to get it under contract for 45 days and they try to flip it to a true cash buyer. If they don’t make it happen they just let the contract go back. Once you get past the wholesalers a title company can do everything you need for the transaction. A true cash buyer can close in 7-10 days as long as title is clear.
This is big for them.
They love seeing FSBO properties where they know they have people wanting that type of property. Get it under contract, usually under market when FBSO, and then flip it for little to no money down.
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I tried to buy a house in colorado last year that was FSBO. It was pretty easy dealing with them, and the FSBO realtor, but it didnt work out. The FSBO agent was from a different county in colorado and was not familiar with the county we tried to purchase ours in. In the end it bit the sellers in the but and we had to back out last second due to not having checked everything, the septic in this case, they were supposed to. I know people think realtors make to much money, and might on super easy deals, but most times they earn their money. And they can save you money or make you money.
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FSBO is very easy if you have a buyer lined up. Not so much if you don't but there are services you can pay to get it on the MLS listings.
You can get a copy of the form and contract on the Real Estate Commission's website.
The title company can do the rest. https://oklahoma.gov/content/dam/ok/...al%20Sales.pdf
On the flip side, a realtor might bring you more money and pay for their commission.
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