fsbo Home selling tips...

For sale by owner: real estate forms & contracts plus fsbo selling tips; how to sell your own home.

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REAL ESTATE FORMS AND CONTRACTS TO SELL A HOME CREATE A WEB PAGE AD TO SELL YOUR OWN HOME: $26.95 FREE FLYERS TO ADVERTISE AND SELL A HOUSE BY OWNER HOME FOR SALE BY OWNER (FSBO) KIT: $59.95 SELLING YOUR HOUSE ON THE INTERNET

HOW TO SELL YOUR OWN HOME
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Consider special financial terms when selling your own home. Some of the following can help sell a fsbo home.

Assumable Mortgage:

If a buyer can assume your present mortgage without having to qualify with a mortgage company, your home might sell for a higher price than a similar house without an assumable mortgage.

This is especially true when the interest rate on your mortgage is lower than present market rates. Check with your mortgage company to see if your mortgage is assumable at an attractive rate.

Seller Financing: Choosing the 'home for sale by owner' route does not rule out creative financing !

In some situations a good Buyer is temporarily unable to get a big enough mortgage to purchase your home.

For example:

The Buyer's funds are tied up in an IRA or other long-term investment.
A strong Buyer has children in the last year of college.

Examples of mortgage loans a Seller might offer to help a Buyer complete a purchase:

Balloon Mortgage Loan:

The buyer begins by making equal monthly payments, but must pay the entire balance at the end of a short period (usually between six months to three years). This type of Seller financing gives the Buyer time to arrange a regular mortgage loan through a bank and repay the Seller.

This type mortgage is usually implemented with a Balloon Note of the type included in our set of Real Estate Forms & Contracts.

Regular Mortgage:

Usually, this is a second mortgage to cover the difference between the price of the home and what the Buyer can finance. This differs from the balloon in that the buyer makes equal, monthly payments until the mortgage is paid off.

This type of mortgage is usually implemented with a Mortgage Bond (included in our Forms & Contracts).

The form used to certify that each of the above mortgages has been paid is called a Discharge of Mortgage. A copy is included with our Forms & Contracts.

Forms and Contracts:

You can usually reduce your legal fees by filling out forms and having a lawyer review them rather than draft documents from scratch. Forms for balloon and regular real estate mortgages are available at most large office supply stores and in our set of Real Estate Forms & Contracts.

Lease with option to buy:

Use when a home proves impossible to sell because prospective Buyers can't qualify for a mortgage.

Your prospective Buyer rents the home with an option to buy within six months to two years. If he exercises the option, the Buyer/renter pays a lump-sum of 3%-5% of the purchase price to the Seller. In addition to this down payment, the Buyer/renter pays a monthly sum (usually $50-$300) in addition to the regular rent. This monthly sum is credited to the purchase price and is non-refundable.

Lease with option to buy" agreements are available at OfficeMax, Office Depot, Staples and other large office supply stores. They are also available in our set of Real Estate Forms & Contracts. You can download the Forms & Contracts to your computer or we can mail them to you.

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Contract Package $14.20
Includes real estate forms and photo tour packages below, plus a home for sale by owner yard sign with stand and a directional sign. Internet listing is for 6 months plus a free 6 month extension.
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Photo Tour Package $26.95
Internet web page ad with up to ten pictures of home plus property description and choice of 28 eye-catching headlines to sell your house. Also includes choice of two advertising flyers for local distribution.
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