Anybody ever sell thier own house?
 

I really dont feel like giving a real estate agent 6% just for listing my house in the MLS directory and putting a for sale sign in front of it. Thats $30,000 for them when my house sells for $500k.

So who here has sold thier own home, and how did you do it?

I have, and some other properties, it's easy, just write a check to a lawer.

Now finding a buyer is another issue.

have you looked into www.buyowner.com ?

I have but it was an emergency divorce sale. I just put a sign out in the yard and an ad in the paper and it was gone in 48 hours.

If you're going to do it yourself, get a RE agent if you haven't been able to sell it yourself in 60-90 days.

thanks, checking it out now

Do you give away free porn?

:glugglug

A few years back. Got a standard contract from the office supply (prolly available on web). Then let the Title company take care of every thing. In my state a lawyer has to be involved. The title company had one in the same office. Agents fees are 7% here. That's a big bite!! After you've been through a couple buy sells, ya get to know the procedures. Like all the inspections that are involved.


The agent is a big help in making sure you make all the dead-lines and have all the inspections if you don't know the ropes.

NEVER, NEVER trust the agent to get inspectors, hire your own. The agent on both sides of the deal is out to get the property sold and make the commission. Never assume your agent is acting in your best interest 100% of the time! Need to make that real clear!!

It would be worth while IMO to have an attorney paid by the hour write a contract and skip the 6 or 7%.

Here's another site worth lookin at:

http://www.forsalebyowner.com/

you moving mang???


another state or ....











PS: BUMP

Yeah back to texas, probably Dallas

I've doubled my money on this place in less than 2 years. Time to move someplace with a bigger, newer house, and pay cash - no more mortgage for me. I'm sitting on a quater million in equity here.

You may want to look at Assist2Sell, http://assist2sell.com

They do just about everything an agent does (including putting your house in the MLS) for 3 grand.

Negotiate with them, LET them list your house for 4%.

You have obviously never bought or sold property.

LOL I Have. You have obviously never been involved in a business, or if you have, you arent very good at it.

"Everything in real estate is negotiable! The seller's and the buyer's agents typically split the commission. A lower commission may be needed to bridge the gap between the seller's and the buyer's price. Two percent of $200,000 is $4,000 ? a $4,000 difference can kill a deal."

LOTS of realtors would be willing to take it at a lower price.

lol...I knew you would come back with that response. I wasnt referring to the fact that you cannot negotiate with a listing agent. But the fact is, and you would know this if you ever bought or sold property, the 6%, or the 4% you suggested doesnt all go to the listing agent. Normal transactions usually are anywhere from 5.5% to 6%, half goes to the listing agent and half goes to the buyers agent, you can negotiate your fee to the listing agent but not the buyers agent. No one in their right mind would ever pay 4% to the listing agent, so your suggestion shows you don't know what you're talking about.

I am selling my house now too, what a hassle. But I got the top agent in my city, he gets the first page listings in all the real estate free mags they have in the grocery stores and stuff, and I need to sell in a hurry and my house is worth more than any of the others around here mostly, so it's worth the 6% to me at the moment.

BTW, if anyone wants a 2800 SQft house with it's own creek, bridges that goto garage and front door in Columbus Oh, 350k gets you a fucking gem of a house, hit me up, I'll toss in some domain with the deal :thumbsup

Thanks man but I dont want to live in Ohio

that doesnt work in Las Vegas, they'll just laugh at you. This is probably the top real estate market in the US right now.

thanks, checking it out now

If you have indeed been there less than 2 years, try to wait out the full 2 years before selling it for tax reasons.

there wont be any capitol gains because i'm putting 100% of the profit into the next house

Yes and forsalebyowner.com is a great site...

Well dumbass, I know ALL of that. And when I bought my house, the fee was 4%. Half to the buyers agent, half to the sellers. The sellers agent agreed to 4%, therefore my real estate agent gets HALF. The commission is listed right there in the MLS listings that my real estate agent brought to me. She agrees to half of the fee, and the fee is set before she ever comes into the picture.

So, you have just told me a bunch of shit I already knew, and proved that my very first statement was 100% correct and that you are just a jackass.

That's an old tax law - new one says it doesn't matter what you do with the money, but you can deduct up to $250K ($500K if you're married) in capital gains but ONLY if you've lived there 2 out the past 5 years. If you live there less than 2 years I THINK it's amortized but I'm not sure. See your favorite tax advisor for more info so Uncle Sam doesn't soak you :)