The
checklist below outlines the process that we have used when it comes
time to either buy or sell your home.
While each person has his or her own philosophy on how to buy and sell
a home, the information below has helped guide us through the necessary
components of buying and selling a home on your own.
Don't miss a step. Print off the list below and make sure all steps
are covered.
1.Prepare your home for sale:
Paint, fix and clean your home so it looks well kept, inside and out.
Reduce clutter by organizing and removing items such as extra end tables,
furniture, children's toys etc. If space is an issue you may want to
rent a storage unit for the time being. 2.Appraise and price your home:
For approximately $200 you should be able to hire a professional to
come and appraise the value of your home. A professional appraisal and
market analysis can help you assess your home so you won't charge too
much or too little. Click
here to get a list of our preferred appraisal partners. 3.Acquire and fill out the necessary forms, including:
residential offer to purchase, real estate condition report and lead
paint addendum, and any others that your attorney has recommended. Click
here to download and print off (PDF) the necessary forms. 4.Find an attorney:
Find a real estate attorney to help interpret and draft forms. I found
my first FSBO sale to be worry-free with the help of a professional
for a fraction of what it would have cost for a broker. Click
here to get a list of our preferred real estate attorneys. 5.Advertise your home:
Draft a Homeowner's Information Sheet and/or Advertising Flyer to place
on your yard sign for people passing by. This feature is FREE OF CHARGE
for those customers who advertise on FSBO Wisconsin. All you need to
do is enter your information and print it out! Click
here to see a sample of our Homeowner's Information Flyer. It also
helps to advertise your home anywhere you can. Advertising in your local
paper and shopper is also a good idea. You should be able to have a
smaller ad by directing readers to FSBOWisconsin for further information
and pictures while still saving money. Here's a sample ad to use as
a reference:
FSBO - 316 KENT STREET
4 BR, 1 BA, Cape Cod w/lots of charm.
For more details and pictures view online
@ www.fsbowisconsin.com | ID#99055
or call (715) 555-9055
6.Advertise with signs:
Put up the appropriate signs directing traffic to your home. Make sure
to contact neighbors, homeowners, and city officials regarding any existing
ordinance to ensure your sign is placed legally. Click
here to view our supplied signs available with our advertising packages.
7.Schedule an open house:
Schedule open houses during peak hours on the weekend. I found any time
between 11:00 a.m. and 4:00 p.m. to work the best. Additional signs
and balloons can also help gain exposure to oncoming traffic. Don't
be too pushy when people come in. Offer them an informational form,
tell them you'd be happy to answer any questions they have and make
sure to present them with the real estate condition report, lead paint
addendum and a residential offer to purchase form before they leave.
Click here to download the forms FREE. 8.Counter offer:
Upon receipt of an offer or counter-offer, consult with your attorney
(if you have one). Make sure to review the offer carefully. Click
here to get a list of our preferred real estate attorneys. 9.Accept an offer to purchase. 10.Make closing arrangements:
Make arrangements for closing the deal such as securing a closing date,
final utility readings, arranging for title insurance, hiring movers
etc. Click
here for a list of preferred title insurance companies and Click
here for a list of preferred movers.
How to buy a
FSBO home
1.Pre-qualification:
Find a lender you feel comfortable with and secure pre-qualification.
You should also have approximately 5% to put down on your home. Many times
this requires homebuyers to save for a couple years before shopping the
market. If feasible and if the rates are reasonable, consider locking
in your interest rate. There certain financial institutions that will
require a "lock fee". This is a fee of approximately $250 that
will guarantee your rate. If interest rates increase, you don't have to
worry, you've already locked in. 2. Find an attorney:
Find a real estate attorney to help interpret and draft forms. I found
my first FSBO sale to be worry-free with the help of a professional for
a fraction of what it would have cost for a broker. Click
here to get a list of our preferred real estate attorneys. 3.Do your homework:
Research the areas you would like to live in. Investigate schools, taxes,
and location. Make a list of the features you're looking for including
which ones were negotiable and which ones are "a must". Take
your time and don't rush one of the biggest decisions of your life. 4.Register online:
Register on our site for the only real estate e-mail notification system
in the State of Wisconsin. Type in your requirements and then sit back
and wait for the home of your dreams to come online! We'll notify you
each time a new home enters our site, as well as any that meet your specific
requirements. 5.Schedule showings:
Identify several potential homes and schedule a time to visit them. I
found looking at 3-4 homes was plenty for one day. 6.Make an offer:
Prepare to give earnest money. Five hundred to a thousand dollars is typical.
Be certain to include everything you want in the offer including preferred
closing date and contingencies (appliances, window coverings, financing,
home inspection etc.). These will be listed on the Residential Offer to
Purchase Form. Click here to view this form. 7.Accept or counter seller's counter-offer. 8.Schedule a home inspection:
If your offer had a home inspection as a contingency, you will need to
make arrangements to have the home inspected. Click
here to get a list of our preferred home inspection services. 9.Make closing arrangements:
Make arrangements for closing the deal such as securing home owner's insurance,
setting up your utilities, hiring movers etc. Click
here for a list of preferred movers. Click
here for more information on obtaining Homeowner's Insurance.