Step-By-Step Sellers Guide

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Would you like to sell your home or property yourself, but don't know where to even begin? Following this step-by-step guide to selling your home can make the process easy. Beginning with marketing your home, obtaining offers to purchase, and through to the final closing, AreaByOwner.com makes it simple!

After preparing your home for sale by owner using our home selling tips, you will want to start thinking about how to market your home.  Listing your home online at AreaByOwner.com is a great first step to getting your home noticed without the need for a realtor (or their commission!). Your listing is available to potential buyers 24/7 and you can make changes to it any time you like. Make sure to take advantage of all of the 15+ photos you can provide for your listing to give buyers a good look at your home.

You may also want to schedule regular open houses to show potential buyers you are a serious and motivated seller. Open houses that you manage using your AreaByOwner Member account will be shown on your listing and printable flyers as well as highlighted in our Upcoming Open Houses section.

But having an online listing with AreaByOwner.com shouldn't be the only way you market to buyers.  Placing ads in local newspapers that list major home features and even a photo can be a great additional way to advertise your home for sale.  Be sure to include your direct website link (ie. AreaByOwner.com/123) on your newspaper ad to let interested buyers do more learning on their own.

Professional Yard Signs and Flyers

As home buyers begin their real estate search, they may not only look online but also drive around neighborhoods and areas they find desirable.  Having a professional real estate sign prominently displayed in your front yard is a great attention grabber. AreaByOwner.com offers you a free front yard sign included with every online listing!

Directional signs (the ones with arrows on them) are also available for placement at major intersections.  These signs help direct potential buyers to your door and may be customized with your address and pointed in any direction. 

You can also print as many full-color informational flyers as you like from your AreaByOwner.com Member account.  Include flyers with your yard sign, post them at work or at local grocery stores, and make them available at your open houses. It's up to you! Your flyers will include a photo of your home, all of your home's features, pricing, contact information, and the website link to your online listing at AreaByOwner.com.

Receiving an Offer to Purchase

Once you have gotten an offer to purchase your house, you'll need to evaluate it. Is it near or at fair market value? Should you counter offer? Probably. Most buyers don't open with their highest of best offers, so you will probably have to negotiate. You should be prepared to go a few rounds here.

Also, when you get an offer, remember price is not everything.  Sure it may be a few thousand lower than you expected; but if the buyer offers a date that means you won't have to move early, put your stuff into storage, rent a home, lose that rental damage deposit, and finally move a second time into your new place.  Well, that is worth something!

You will also need to make sure your buyer is qualified and serious. A buyer should be able to present documentation of pre-approval from their lender that verifies that their income, assets and credit scores have been verified. If a buyer is not pre-approved for a loan, ask them to follow though and have this completed for your protection during the sale.

Building Inspections

Your buyer will most likely want to have a building inspection. This means that a qualified professional will evaluate the soundness of your house from top to bottom. Sometimes a buyer will want to renegotiate after this inspection. It is your choice whether or not to do so, but a few minor repairs may make a transaction go smoothly and may be worth agreeing to. You can find a local building inspector to choose from in our Find a Service section.

Do I Need an Attorney?

Not every state requires that you have an attorney to close on a house. However, selling your home by owner does carry some risks and you may not have had any professional guidance. It is probably not a bad idea to hire an attorney for your transaction. You will want to find someone who is familiar with real estate transactions and knows your local customs and procedures. You can find a listing of local real estate lawyers in our Find a Service section.

Writing Up Contracts and Forms

The buyer generally initiates the purchase agreement. But you can be ready with your real estate sales contract and disclosure statement. Many states have taken steps to reduce or remove the need for attorney involvement for the simple real estate sales contract. You can buy a real estate contract kit online (which is immediately downloadable) or purchase software at your local office supply store to help you get your forms in order. Typical forms used in a real estate transaction include an Offer To Purchase, Real Estate Sales Contract, Residential Disclosure Statement, and various other forms.

Setting the Closing

The bank which is funding the mortgage for your buyer will set the closing date. Depending on your location, you may or may not know what that date is until it is pretty close. You will know the approximate timing, which will be stated in your contract, but be sure to keep in close contact with the buyer to make sure that everything is moving along smoothly. It is okay to follow up to ensure that nothing falls through the cracks.

Final Walk Through

Right before the closing, you will have to schedule a final walk through with your buyer. The house should be vacant and clean at this time. The buyer will walk through your house and make sure that it is in the condition he or she expected and that all appliances and other items listed in the contract to sell. They will also make sure that heating, cooling, and other major home systems are functioning properly.

The Closing

Make sure to bring photo ID and all necessary paperwork to the closing. If you have hired an attorney, he or she will tell you what to bring. Be prepared in case any minor issues come up at the last minute. Just try to keep cool and be reasonable and most likely any last minute glitches will be smoothed out.

If you follow these steps, your for sale by owner transaction will undoubtedly go smoothly. Good luck!