The real estate market is starting to recover, and more homeowners are looking to sell the home for sale by owner (FSBO), but many of these homeowners don't realize the vast amount of negotiations that occur when trying to sell a home.
Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO:
- The buyer who wants the best deal possible
- The buyer’s agent who solely represents the best interest of the buyer
- The buyer’s attorney (in some parts of the country)
- The home inspection companies, which work for the buyer and will almost always find some problems with the house.
- The termite company if there are challenges
- The buyer’s lender if the structure of the mortgage requires the sellers’ participation
- The appraiser if there is a question of value
- The title company if there are challenges with certificates of occupancy (CO) or other permits
- The town or municipality if you need to get the COs permits mentioned above
- The buyer’s buyer in case there are challenges on the house your buyer is selling
- Your bank in the case of a short sale
Dealing with all of these people with conflicting interests and goals can be very time consuming. Your time is worth a lot of money, and that's just one advantage to hiring a licensed real estate agent to help you negotiate the sale of your house all the way to closing.