One of the biggest advantages when you are home in Michigan is that you are going to make the profit, not a real estate agent. The real estate agent can charge up to 6% commission of the total price, which can be severely cut into your bottom line.
Although it's bad to use a real estate agent, many people are trying to save the money they would have to pay a real estate agent. And as buyer, why pay more for the property when working with a seller?
For sale by owner in SE Michigan (Southeast Michigan) is booming we noticed a lot, and a quick look at the papers and internet ads throughout the same thing.
Michigan Houses For Sale By Owner
Michigan houses for sale by owner, bottomline, is the preferred way for many people to sell their home in this downward trending housing market.
Selling your own home offers a number of advantages over a traditional real estate listing through an agent. These are the most prominent:
Michigan Houses for Sale by Owner Pros
- You are in complete control.
- You set the price and negotiate the closing.
- You decide when, where and how you want to advertise.
- You control the open houses, showing, etc.
- As a buyer, you can find the middle man (and the fee) is out of the picture.
- For Sale By Owner or FSBO is for both buyers and sellers in that it puts them in direct contact with each other.
- Lengthy negotiations are reduced because there is no more third party. The buyer and seller are in direct contact with each other. Offers are made and accepted much more quickly.
- The game of phone tag with an agent waiting to see has been accepted is gone.
- Negotiations are more productive because sellers and potential buyers are motivated to come to an agreement on terms.
- Buyers can get directly over the property by the party that actually lived in it.
Quick tips for buyers:
- Read the local papers for FSBO listings SE Michigan ads are easy to find in major papers and on the internet. Check mlive.com or subscribe to the Ann Arbor Observer.
- Do your research about the property. FSBO sellers are fully informed about the property but just like dealing with a real estate agent.
Or let us put you into a home. As investors in a home state, even if you have poor or damaged credit.
- Consider a buyer agent or using a real estate investor like this.
For sale by Owner in Michigan
Quick tips for sellers
- Do your research. Find out what the FSBO is in your specific area. Look at the similar Michigan homes for sale by owner. Check comps on websites like http://www.zillow.com,
In addition, real estate investors, like us here at Buy-Sell-Michigan-Real-Estate, can also help out home sellers if they are truly motivated to sell.
- Consider hiring a real estate appraiser. Appraisals can be cost effective and will give you professional advice on the market value of your home with a one-time, up front cost. Real estate investors like us are also a good job at determining a property's fair market value.
- FSBO listings (in newspapers and on the internet) offer cheap and affordable advertising for your home in a number of venues. FSBO advertising thus offers targeted advertising directly towards buyers looking for FSBO properties.
- Pre-qualify home buyers. Require that potential buyers to pre-approved for loans in the amount required for purchase of your home. Or if you can not find anyone who can afford it, talk to creative real estate investors like us.
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Source by Dan Ho