Thinking about selling your house in Kansas City as a FSBO? Before you jump into the For Sale By Owner (FSBO) waters, it’s important to understand how the costs of this method of listing a home can cut deeply into your time and money. Here is what you should know about listing your Kansas City house as a FSBO.
While many homeowners undertake this difficult task on their own believing they will save thousands on commissions, more often than not they learn too late that this is not the case. When you list your home, it is likely that you’ll still be working with a real estate agent representing a buyer. Due to the structure of selling a house, the proceeds for both buyer’s and seller’s agents come from the seller. Essentially a buyer does not have to pay their agent, so it does not make sense for them to NOT have one. This means you will still be paying commissions, which is important to know about using an FSBO listing to sell your house in Kansas City.
It Costs Money
Setting the right price can mean the difference between a quick sale and your home lingering on the market. If you want to be certain you are on point, you should reach out to a professional that will give you an opinion on a listing price. You may be able to find an agent that will do this for free.
You may also wish to enlist the services of a real estate attorney to draft your contract. This will ensure that you are legally protected throughout the process.
Also, advertising in today’s real estate marketplace means using professional photography, virtual tours, and staging the home. All of these can add up and be quite pricey. All of these expenses are important details that you should know about selling as a FSBO in Kansas City.
Repairs Still Required
Another thing you should know about selling your Kansas City house a FSBO is that buyers will still conduct an inspection on the property. When (yes, there is always something) they find any sort of health or safety issues, they will request that repairs be made or that you contribute towards their closing costs. If you do not know your way around this part of the negotiation process, it can create a ton of headaches and cost you a lot of money.
Are you available to show your house with 24-hour notice, or less? Ready for the phone to ring at all hours, often the calls are from pushy and eager buyers agents.
Scheduling showings and making certain your home is always ready for walkthroughs can be extremely stressful and cut into important family time. Making certain you meet any pending deadlines for your transaction can also bring added pressure. The paperwork takes time as well, it’s important to be aware that all of these time-eating responsibilities come along selling a house as a FSBO.
Deals Falling Through
Buyers using traditional financing can waste your time by failing to qualify for their loan after going through all of the previous steps in a real estate transaction. This is another huge hurdle with using an FSBO listing to sell your house in Kansas City.
Your buyer could have unexpected life changes or a change in their credit score or debt ratio since being prequalified. Issues with the inspection or appraisal can lead to further re-negotiation and the deal eventually falling through too.
Work With a Professional Home Buyer
Being a FSBO to sell your house in Kansas City can be expensive and time-consuming. How long are you willing to wait?
Phenomenal Properties KC can close within 14 days if you are serious, and we always work on your timeline on when you want to sell. By selling directly to Phenomenal Properties KC, you won’t pay any commissions or other fees. What we offer is what you are paid at closing.
Phenomenal Properties KC saves you both time and money by purchasing your home in as-is condition so you can avoid paying for repairs before closing. You won’t have to worry about marketing costs or the headaches of showings. We make it easy!