Pros and Cons of Selling Your Home Yourself
You may want to make more money by selling your property yourself. For this reason, you might want to avoid paying realtor fees and decide to sell your home yourself. Although it can be a good option, it has some drawbacks. These pros and cons can help you make the best decision for you and your home.
Pros of Selling a Home for Sale by Owner (FSBO)
- You don’t have to pay commission to a real estate agent
- You can devote your full attention to your home sale
- You’re your own boss; you have complete control over the sale
- You can sell it to friends or family, letting both parties get a great deal without paying realtor fees
Cons of Selling a Home for Sale by Owner (FSBO)
- You’re not guaranteed as high a price for your property as you could expect when working with an experienced realtor
- Finding buyers that are a good fit for your home is difficult if you don’t know what you’re doing
- Marketing a home is challenging
- You may need to pay additional costs, such as for a home inspection
- It’s an intricate process with lots of financial and legal documents
If your home is distressed, you may want to consider selling with an agent, or to an investor. Selling a distressed home is far different from selling through traditional real estate channels and comes with its own unique challenges that may warrant the help of an expert.
This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Simple Sale encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal decisions.