How to Sell Your House by Owner - The Steps Involved
Step 1 - Find out what your house is worth.
This is a good place to start for several reasons. First of all, it might change your mind about selling your home. If your property values have fallen a lot (as a result of the housing crash of 2008 - 2009), then you might decide it's a bad time to sell by owner -- or to sell at all.
This step is also needed for pricing purposes. You can't set your asking price until you know how much the homes in your neighborhood are selling for in the current market. The best way to do this is by paying for a professional appraisal. Learn more about pricing
Step 2 - Prepare your home for the market.
Before you sell your house by owner -- or before you even list it, for that matter -- you need to make sure it's presentable. For starters, you need to fix anything that is broken. That leaky faucet or torn carpet might not seem like a big deal to you. But when buyers see these things, they immediately wonder what else is wrong with the house. This is not the mindset you want people to have when they tour your home. Learn more about preparation
Step 3 - List your house on the Multiple Listing Service.
There are many ways to market a property that's for sale. But if you are serious about selling your home in the shortest time possible, you should list it in the MLS. It's the best way to reach the largest possible audience, of buyers and real estate agents alike.
Even if you sell your house by owner without an agent, you can get it listed in the MLS. Here's what I recommend: National Real Estate Listings without the Commissions!
Step 4 - Read our comprehensive guide to selling a house by owner.
If you want to learn more about the steps to sell by owner in the modern real estate market, I highly recommending our guide to selling your own home. It's one of the most in-depth and useful FSBO guides online today.
The most important thing to take away from this article is the three P's -- pricing, preparation and promoting. In that order. If you don't price your home accurately for the current market, you'll never find a buyer willing to pay. And if you don't prepare the property before people come to visit, they won't stay for very long. Price it right, prepare it for the market, and then promote it through the MLS and other channels.
I hope this article helps you understand the steps involved in the sell by owner process, and I wish you luck selling your house for top dollar.