can you sell by owner? dd and her x need every dime (to split) so each can relocate (either apt or condo) in nearly the same area for the sake of the children...the homes seem to be regaining status and price...very little, if any, reno is needed...has the granite and stainless ect.
is there a diy site, that can help her? she would be the primary shower, and of course i'm leary of that...
sjf, Of course anyone can list their property for sale by owner but actually getting it sold that way can be another story. I am sorry to hear of your dd's situation; I'm sure that it is a difficult time for all involved and I understand the desire/need to maximize the profit to be split.
However, trying to sell themselves might, inadvertently, work at odds with that goal resulting in a longer delay and less ultimate proceeds because a real estate agent has skills, abilities, knowledge and resources that your dd and her ex most likely do not have.
Most real estate agents know which programs might be available to prospective buyers, know how to make sure that they are qualified and have relationships with a title company (which is necessary to close any real estate transaction) which can expedite a sale.
In addition, having an agent in this particular situation might be beneficial as they can act as a neutral third-party intermediary between your dd and her ex when it comes to negotiations with any prospective buyers. No matter how "civil" the divorce may have been, it may be difficult for them to come to a consensus on issues that arise during this time.
Yes, an agent will most likely earn every penny of his or her commission with a faster, cleaner sale than taking the FSBO route. Ask your dd if she (or the ex) has the knowledge, ability or, even the paperwork, to prepare/provide a preliminary offer should a buyer want to make one? Do they know what forms are required for disclosures? For that matter, do they have any idea of what forms are necessary regardless of the purpose of them to close a real estate transaction?
If the answer is "no" to any of the above questions, then I would hope that they forget the idea of FSBO, engage a qualified real estate agent and consider that paying the commission is simply part of the sale just like buying title insurance would be.
Remember, you never get a second chance to make a first impression and, if they try FSBO and don't succeed, they have not only lost that time but, also, any prospective buyers that might have have been interested...
Wishing the best to your dd during a difficult time. This message has been edited. Last edited by: Idaho Resident,
thank you for your thoughtful response...i'm sending this on to her asap....
I've owned and sold a dozen homes, some with an agent, some on my own. I'd say the choice of selling by yourself depends a lot on the market you're in. If inventories are low, and houses are flying off the shelves, you can probably handle it yourself (preferably with a seller-assist company like Help-U-Sell). But buyers won't bother with a seller stumbling through the paperwork when there are several similar houses in the neighborhood, all represented by professional realtors. From a buyer's perspective, they're the safer bet.
thank you annett...dd is very savvy, and will find what she needs, but being a concern mom, wanted a little help for my side, lol...
Low down loans would be VA,if he/she is a veteran(0 down) FHA (3.5% down,) or USDA (0 down
in country (agri-type areas).
However unless the other spouse is willing to sign
the mortgage, suggest they are divorced first.
As for the selling side get a good agent.This message has been edited. Last edited by: real estate lady,
REL, I'm confused? As I read the OP's post, I thought her dd and former SIL were already divorced and the house had been ordered to be sold with any profits to be split. And the question was the advisibility of trying to go FSBO versus engaging a real estate agent and paying a commission which would result in less "profit."
Did I misread OP's question?
ex doesn't always mean "divorced-final degree". Maybe she will clarify.
Important to get credit straight as well, i.e. bills in both names. Hopefully that is addressed in court, so each can re- establish credit in their fown name via 3 credit bureaus.
Actually fabulous idea to pull credit from all three credit bureaus before they hit divorce courts to protect themselves.This message has been edited. Last edited by: real estate lady,
Actually one Realtor is best for both. Realtors
are well versed in divorce situations, including troubled waters.
Best to hang women and men's clothes in the closet, in a divorce situation if one is still living in the home, as buyers' agents and buyers "can" assume it is a divorce thus offering lower than thought sales prices.
Note.. buyers are saavy and can pull up public records on a property and so can the Buyers' Realtor - if there is husband and wife listed as owner" and one set of wardrobe..the mind starts thinking..
aahh, bet you never thought of that.
Now how silly is that..one with authority..-
husband and wife are divorcing (having trust issues could be a problem)...
and both own the home, and giving one authority to sell the home?
First of all both would have to sign the MLS listing agreement and once there is a contrct both would have to sign.
There is no "one"..there....as they say two to tango!This message has been edited. Last edited by: real estate lady,
real estate lady don't have to worry about wardrobe... they rented an apt that each use on a temp basis, so the children are always in the house...
and from the mess I saw this week (his dirty clothes on the floor, yuck, that won't be a major problem...
again thank you all for your sound advice...it was passed thru the "grapevine" that at least one home got multiple offers...(very much like dd's)
It's really nobody's business on the buyers side, the fact that the seller is getting divorced. In fact if a listing agent divulged too much info not only can there be problems in disclosure, but could encourage "low offer" based on the mear fact of "divorce." Buyers' agents love yappy listting agents.
A smart listing Realtor does not give the buyers' agent personal info about the seller, causing troubled waters. AGents know this can come back to bite them.
Of course as your original post asks they-- can sell by owner. Make take longer in your market place depending on whether your area is a sellers' or buyers' market. As an owner and a seller, doing your homework re COMPS is major key. All too often a FSBO will mis-price because of lack of research.
I once showed a FSBO, who was cooperating with Realtors.
My buyer loved the house, and we were on our way our the door to the office to write a contact. The seller yelled out if you buy it today I'll take off $5,000.
The house was a bargain at the quoted price, but yes, we were sure to deduct that $5,000. What a gift!This message has been edited. Last edited by: real estate lady,
So, sjf, have your dd and her ex decided to listed with an agency or go forward with the FSBO idea? Wishing only the best for all involved.
well that's a good question...she bought the for sale by owner but he's baulking...(while running up cc bills with the nanny) but the good news her neighbor sold in one day for more than asking price...
we keep saying the strike while there are buyers! I do think she's trying to find a place as well...
the sign went on the lawn today..now we sit and wait...xsil walked right by us today and didn't dare or not, even say hello...had the gall to call dd and ask dh to take her to lowes and buy a door to replace the one he broke....
Well, although I was hoping that your dd would pass on the FSBO idea, ahe didn't and so I'm crossing fingers and hoping that the market is "hot enough" to off-set that choice. As for the door? Yes, probably should be changed before any showings.
Although it would be nice for xsil to buy it himself, deliver it to the property and then disappear while your dd and your dh install it, doubtful that will happen so might be best just to do it yourselves if the problem is apparent to the casual looker! Best of luck ~ keep us posted!
lol..karma is good! she'd put his # on the sign and got a call to show today...he put the new door up, and stayed too long so had to show the house, lol, instead of dd doing it...went well, as the lookie-loo family have friends in the sub, and have already sold their other home(?) they too, are working without a realtor...so the "game" has begun!
Actually, sjf, sounds good that the door got replaced and your dd was not alone at the time of showing. Perhaps having both of them there sent a positive message to the potential buyers re the "family" aspects of the area especially since THEY have already sold their home and have friends in the sub!
Now, to strike while the "iron is hot," does your dd or her x have any idea how to proceed with getting them "signed on the dotted line"? That's the part I was most concerned about ~ finding a willing buyer and then things stalling... because no one know what to do next especially since the potential buyers are working sans real etstae agent as well!
Hoping for the best!
Please tell them not to show to unqualified buyers. This is the main split in the road for a sale between fsbo's and Realtors.
Crooks and looky loo's don't get pre-qualified.
If they say they are qualified.. I say oh, good..can you fax me or email me a copy of your pre-qual letter?
Pre-qualifieed buyers help keep you safe.This message has been edited. Last edited by: real estate lady,
update! well after trying and getting no help from x, dd finally took your very good advice and and found a realtor thru a friend, and who gave deep discount( esp wanted to get into the sub) they have had several showings despite the august ey doldrums...
again thank you for all your thoughtful gentle help...
sjf, Thanks for the update and have to say I was glad to hear that your dd has decided to engage a realtor. Might have to pay % for the assistance but well worth it for the expertise gained in return. Good luck to her ~ keep us updated!
as I said, thank you for all your sound advice. they got the divorce papers...boy i'm sure glad they didn't have to go thru a year of waiting like I did in the late 60's in ca! and that was with no kids...
well ladies...they got an offer tonight, pending home inspection, with a closing on oct 29th...
dd has found a rental condo, only 2 miles north of the kids school...we're going to go look at it tomorrow...it's only 2 bedrm, but figure with the nice sofa beds they have at places like ikea, she can give the bedrooms to the kids..(dd is 6, and ds is 8)
That sounds great, sjf! Fingers crossed until the closing--let us know.
And I vote for the kids to share a room and let mom have her own room. :-)
Moms need their privacy a lot more than small children. They can have their own rooms when they are either older or situation changes.
well the closing was yesterday (oct 29), and dd is moved into a cute condo rental...not thrilled with the location, and they seem to be the only young family...but it's a start...
the kids are still doing every other week, and some how xsil managed to buy another house(mommie's money?) so he and the nanny have moved in...
yes the kids are sharing a room...it's a nice sized although dgs loft does take up quite bit. we're actually going to another full bed in there Saturday for dgd..they have a nice walk in closet that had room for dressers...
and so it goes....
Idaho..thanks so much for your kind words...I have no doubt that she will make a wonderful new life for herself, and the kids...
I wanted to keep every one updated so they can share with others in the same situation...
Hey great start for your dd. and remember Karma, it works all the time.
|Powered by Social Strata|