The BASICS

As an alternative to working with an experienced real estate agent, you might consider selling your home yourself. If you choose this option, be prepared for a lot of work! It can, and has been done, but if you don't have the time and energy to commit to it, or if you need to sell your home in a hurry, this option might not be for you.

You’ll need to do your homework, so I’m providing the following checklist to help walk you through the process:

Know your property. Become familiar with such facts about your property as property taxes, zoning, lot size, square footage, etc. Look at the terms of your existing loan.

Research the current market and property laws in your area. How much are properties similar to yours selling for? What are the terms of the sales?

Set the price. Once you know the specifics about your home and have checked out what similar properties in your area are selling for, set a realistic price.

Research local market conditions, including:

• Listing and selling price of all houses in your area for the last six months
  
• Listing price of houses currently on the market
  
• Listing prices of houses that were on the market but did not sell (expired)
  
  
  Tip: Visit the county tax records office to determine the selling prices of houses.

Determine financing alternatives. Contact lenders in your area to determine what the options are for your prospective buyer. You want to be informed before they ask, or your lack of knowledge may turn them off from dealing with you.

Perform a 'walk-through' of your property. Look at it from the perspective of both the prospective buyer and the inspector. Take notes* on all items that need to be repaired or replaced. Things to consider include:

Outside:

• From the street, is the house appealing? Does it have "curb appeal"?
  
• Does it need a new coat of paint (either because the old paint is obviously cracked or faded, or because of an uncommon choice in color that might turn off prospective buyers)?
  
• If you have a yard, is the lawn and landscaping attractive and well kept? Are the hedges trimmed? Are the leaves swept up? Are all toys such as bikes, scooters, etc. put away?
  
• Are the windows and doors attractive and in good condition?
  
• Are the roof and gutters in good condition?

Inside:

• Are the interior paints and finishes in good condition or do they need to be freshened up? (This is one area with the best ratio of least expensive to most desired. For a minimal investment, you could possibly make or break a sale by having your home look well kept and inviting.)
  
• Are the appliances in good working order?
  
• Are the plumbing and electrical systems in good condition and fully functional?
  
• Are the carpets or other floor coverings clean and in good condition? (Floor coverings are worth paying for so that your home makes a good impression.)
  
• Are the sealants around the sink, shower, tub and windows in good condition?
  
• Are all light fixtures working properly? Be sure there sufficient lighting in each room so that prospective buyers won't think you're hiding something.

*Make all repairs noted in your inspection.

Know your neighborhood. Most prospective buyers will want to know about the local schools, shopping, parks, transportation, etc. Be prepared so you can knowledgeably answer their questions.