For Sale By Owner (FSBO) property listings are one option for homeowners in Virginia Beach. “Let’s sell it ourselves and save all of those real estate agent commission fees for ourselves!” Sounds great, right? When it comes to FSBO listings, going it alone isn’t always the right move. The process of selling a home is much harder than it would appear. FSBOs have a 90% failure rate, which should give you pause, especially with such an important decision.
When you’re ready to select the method you’ll use to sell your home, which is likely one of your most significant financial assets, it’s essential to have realistic expectations. We will explore five things you should know about Virginia Beach FSBO property listings.
Time and Toil
An important factor to consider regarding Virginia Beach FSBO listings is that they take a lot of time and hard work. From scheduling appointments with inspectors and appraisers, through hosting open houses and showing the property over and over, you may come to understand why real estate agents earn such high fees for their services.
Lower Offers
You should also know that Virginia Beach FSBO property listings tend to sell for less than if you had worked with an agent. Agents are on top of their game and understand how important it is to screen potential buyers and market the home properly. They also have excellent people skills. Because they aren’t emotionally involved with the house, negotiations tend to have a better outcome. While your actual advertising efforts are critical in the results, so too is how the home presents during the showing.
Repairs
Repairs are not something you can escape with Virginia Beach FSBO property listings. While you may not be aware of disclosure laws, learning this lesson the hard way could land you in legal hot water. Even if you don’t make the repairs, the buyers are likely to counter offer with extravagant discounts from your asking price for doing the work themselves.
Legalities and Paperwork
Quite often, sellers decide to work with a professional because the thought of doing all of the paperwork themselves is overwhelming. Homeowners with Virginia Beach FSBO property listings take on a huge responsibility in making sure every contract and form submitted is legit. Failure on this front could mean a deal falls through and will cost you even more.
Holding Costs
You should also know about holding costs and how they can eat away at the profits of Virginia Beach FSBO property listings. Sadly, not having realistic expectations about what it takes to sell a home in today’s market could leave the property lingering on the market. You’ll be left with the mortgage payment and all other expenses required to keep the property in saleable condition. Even an agent cannot tell you an exact closing date when listing a property on the Virginia Beach market.
The most important thing you should know about Virginia Beach FSBO property listings is that there is another option: Selling directly to Rescue Home Buyers is 100% successful for sellers. When you work with Rescue Home Buyers to sell your home, you still get to save the commissions for yourself! Rescue Home Buyers pays cash so that the closing can be done in as little as a matter of days.
We will go over all of the details of your property and any extenuating circumstances that may be pushing you to sell. We will help you determine how much you would profit with a traditional home sale or a direct sale to Rescue Home Buyers. At Rescue Home Buyers, our goal is to help you make the most profit on your most important investment…your home. Feel free to ask Rescue Home Buyers any questions you may have with no obligations. Send us a message or call Rescue Home Buyers at (757) 943-9705.