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There is a lot of effort, time, process management, and timely decisions involved.
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Advertising to a large number of prospective buyers is difficult and costly. (Listed property reaches thousands of real estate agents, many with buyers ready to buy and is placed on the
local real estate board and Realtor.com
web sites which are accessed by most internet users. Ads are placed in newspapers and magazines.)
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It will likely take a longer time to sell the home, if it sells at all. (A high percentage end up listing anyway.
Currently less than 15% of all homes sold are 'for sale by
owner' transactions.)
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Most home buyers work through a Real Estate Professional to purchase and hesitate to deal
directly with owners to purchase 'For Sale by Owner' property.
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You need to offer a 3% to 4% commission to encourage Realtors to provide buyers for your home.
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The public is aware that a 'For Sale by Owner' home is done to avoid paying a real estate commission and therefore, offer and expect to get the home at a lower price.
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A lawyer should be retained to review documents and attend the closing.
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In the end, you will likely end up with a much lower return for your effort than you expected.