What Steps are Needed to List For Sale By Owner?

There are many things to consider when selling a home FSBO. Here are some of the critical steps and responsibilities necessary to successfully sell FSBO.

  • Determine the asking price by carefully researching property values of sold homes in neighborhoods with similar attributes. The square footage, beds, and bathrooms are a good measure to use.
  • Create the home listing on real estate sites like Zillow or use an MLS listing service.
  • Take calls (beware of the many Real Estate agents calling to solicit your listing) to schedule showings of your home and answer buyer questions.
  • Correctly complete the mandatory legal disclosures required to sell a house.
  • Effectively negotiate the price and terms. Most REALTOR® association forms have 15-20 pages to complete with almost 100 paragraphs of legalese. These paragraphs specify who will pay what, who will do what will be done and what happens if one party does not perform.
  • Sign the legal documents required to sell a house.
  • Open Escrow.
  • Allow buyers and agents to schedule and execute inspections and other due diligence.
  • Renegotiate price and terms as a result of inspections and due diligence.
  • Remove contingencies of purchase.
  • Sign all required paperwork for escrow and title, including the deed to transfer ownership to the new buyer.