For Sale by Owner Tip: 5 Things to Tell Potential Buyers

for sale by owner Australia realestate sell my house privately

It’s best to be honest about the condition of your for sale by owner house to buyers, especially when they’re seriously considering the real estate purchase. How much information is too much information, though? You’ll be tempted to withhold details for various reasons; buyers might also obsess over something as trivial as a broken garage door, opt out of the deal at the last minute.

Let’s say you were honest enough to disclose you recently resolved a termite problem, but the buyer still thinks a remnant squadron survived, one lurking deeper within the woodwork. Something’s got to give. You really have no idea what prospects in no agent property deals are thinking, and ‘buyers beware’ is the default in residential properties after all.

Nothing hurts more during the process of selling a house privately than having a lawsuit dropped on you after the property sold. Heaven forbid if you’re at fault. There are details buyers are better off knowing, and then there’s information they have to know. Here are 5  things you should reveal to serious buyers, especially before the deal closes. 

Revelation #1: Your real estate property’s boundaries

Sometimes there’s discrepancy between what’s indicated in the deed, and the ‘virtual’ limits of your property. This is a common concern with residential homes, especially in tight-knit neighbourhoods. Trees on your yard may be well within your boundaries, but the roots could be dug deep into your neighbour’s territory.

for sale by owner Australia realestate sell my house privately

Inform buyers of any right of way issues you’re settling. If you decide to let minor issues slide, buyers have a right to know how they can handle these in the future. Your best bet still is to lay it all out, but only for potential buyers who are seriously interested. 

Revelation #2: Neighbour disputes surrounding your no agent property

If you’re having problems with neighbours, it’s either your fault or theirs. Your home’s new residents deserve to know about disputes just the same. Noisy and nosy neighbours pose problems later on, so wouldn’t it be easier if you schedule visits when they’re not home?

Prospects find out sooner or later, though, and it’s in their best interest to ensure you’ll pay dearly for the mistake. It’s true you’ll risk losing a prospect of your for sale by owner deal over a neighbour dispute, but on the flip side, it’s also possible the buyer could be the person next-door neighbours are looking for. In this case, your neighbours have as much to gain from the sale as you do.

for sale by owner Australia realestate sell my house privately 

Revelation #3: Notice of nearby developments

Prospects may not be aware of any planned developments for nearby properties, especially during the visit. It’s best to inform them if this involves long-term projects. If a neighbour is digging an Olympic-sized swimming pool just outside your yard fence, potential buyers deserve to know.

Prospects always look at property as part of their master plan, and they’ll consider how this is affected by any ongoing developments in the neighbourhood. What’s significant enough for you is equally notable to potential buyers. 

Revelation #4: Alterations in the ‘for sale by owner’ property

Prospects should be aware how your for sale by owner home has changed over the years. This is up to your discretion, but you can share bits of information during the visit to find out how much each buyer wants to know. If the house has a lengthy history of renovations, an overview should be enough.

In any event, this issue might come up before the sale closes. Information on planning permissions (as well as building control completion certificates) must be disclosed, especially if you’ve yet to secure these.

for sale by owner Australia realestate sell my house privately 

Revelation #5: Details on building insurance

This is a requirement, but you need only disclose the details during the final leg of the process. If the buyer has confirmed the sale, any information that would ease the transition would be welcome. Make sure the insurance is updated up to the point of sale, and let the buyer know of the extent of the coverage.

Consider basic coverage if your property isn’t insured. This is a deal-breaker for many buyers of for sale by owner houses.

for sale by owner Australia realestate sell my house privately

You’ll likely spend a few restless nights wide awake, deciding how much information you can disclose without sabotaging your own pitch. It does feel like you’re shooting yourself on the foot, revealing insider information to potential buyers. Have everything sorted out, though, and your due diligence will surely pay off when you sell a house fast.

It’s 2016 and the days of paying real estate agents a commission fee after you sell a house in Australia are over. For a nominal fee, we can help you sell your home privately. Visit our site to learn more about for sale by owner real estate.

We’re sure you’re going to love these other blog posts:

 

Top 5 Affordable Suburbs in Sydney with Homes for Sale by Owner

for sale by owner Australia realestate

Are you the anxious type when it comes to real estate investments, especially when dealing with homes for sale by owner? Deciding to move into a new home means you’ll deal with the transition, and for anyone who spent their best years in a house, the move is unnerving at the very least. For whatever reason, though, it had to be done.

The same is true if you’re selling property in the for sale by owner market. There are plenty of things to consider before you put your house up for sale. How are the market conditions? What’s the median value of similar no agent properties in your area? Most importantly, what’s the price point you can settle with, a decent range you and potential buyers can respect?

Unless money isn’t an issue (it almost always is), the price point is the first thing buyers consider when looking for homes for sale by owner. This is part of the suburbs’ appeal: you’ll find affordable housing that’s reasonably close to the city. With this in mind, these 5 suburbs are among the best places to search for cost-friendly, serviceable homes.

Suburb #1: Dulwich Hill

The inner-west offers two suburbs ranking high in buyer preferences. One of these is Dulwich Hill, nestled just inside the CBD’s cosy ten-kilometre radius. Dulwich Hill offers a good blend of established houses and apartments, which accommodates a wide range of affordable homes for sale by owner.

for sale by owner Australia realestate

Public transport is as convenient as they come, with light rail, train, and bus routes weaved into the area. Neighbouring Marrickville and lined by the Cook River, Dulwich Hill may not feature the bustle of the CBD, but it’s also the respite many are searching for.

Suburb #2: Tempe

Tempe is also inside Sydney’s inner-west suburbs, with plenty of investments available at entry-level prices. Tempe is snug close to Newtown and Sydney University. Unsurprisingly, own-and-occupy and rental properties are its primary offerings.

There’s a catch to this area that may tick off potential buyers of no agent properties, though. It’s located within earshot of the airport. It all depends on which part of Tempe you’re willing to reside, but you should generally expect the hum of planes to become a persistent part of your day.

for sale by owner Australia realestate

Suburb #3: Kingsford

Kingsford is a suburb in the east with potential for growth. It already offers affordable homes for sale by owner options, particularly from neighbourhoods Randwick and Coogee. Mass transit was a concern, but this is now resolved with a new light rail system.

The new mass transit system is convenient to UNSW’s residents and students, also to anyone who’s considering to move to the area. Kingsford’s proximity to the city and the beach, as well as its new transport options, makes it one of Sydney’s up-and-coming suburbs.

Suburb #4: Kingswood

For those who prefer to stake their claim on promising investments, Kingswood’s properties are worth considering. The area has its own train station servicing the UWS; notable locations include Nepean Hospital and Penrith Westfield.

Badgerys Creek airport is also expected to be built close to Kingswood, making the area an excellent prospect for investors with an eye for rezoning potential.

for sale by owner Australia realestate

Suburb #5: Asquith

There’s the impression the suburbs are laid-back retreats from the city, and for many, this is a serious consideration in searching for property. North of the CBD is Asquith, one stop farther than Hornsby on the train line. But in contrast to the relative bustle of Hornsby, Asquith is a quiet, spacy suburb.

Asquith may appeal to families and couples looking for a quieter place to settle, but it’s also ideal for anyone who want their personal time separate from the grind of the workweek.

It’s fortunate Sydney’s suburb homes for sale by owner options are aplenty, and the options appeal to many demographics. Sure, these places technically line the outskirts of the CBD, but what’s not to like? It’s as close as you can get to the city without paying an insane premium for each square foot.

Price range estimates vary with the market trends, but these five suburbs are worth considering, especially for buyers with caps on the money they’re willing to spend. This shortlist is current, but may vary; stay updated and do your legwork, to ensure you’re not short-changed on your home for sale by owner investment.

At Zero Commission, we don’t just post your listing online and leave you to deal with the rest of the sales process in a no agent property deal. We’ll guide you through the process until your house is sold. From excellent customer service to how-to guides to help you sell your home fast, find out why customers are raving about us. Visit our site to learn more about our for sale by owner business.

Check out these blog posts and sell a house without an agent:

5 Reasons For Sale by Owner Houses are Appealing

sell a house privately in Australia realestate

You have a right to earn every dollar off your property’s sale and you’ll end up with more cash in a For Sale by Owner real estate deal in Australia. Problems crop up when you have to pay a third party to perform a job you can do on your own.

Now, some people will argue that selling a house privately is too troublesome, that it’s not worth the effort. The task won’t be a cakewalk, that’s for sure. But it’s fortunate there are alternative services you can consider, without bearing the burden of commissions. You should also give yourself more credit; as long as there’s demand, you have a fair chance of landing prospects, and eventually closing on a sale.

Selling a home without an agent also sends a message to potential buyers: you’re willing to do the dirty work for the sake of property you own. Ignore the naysayers and doubters – here are five reasons why selling your house by yourself is appealing to potential buyers.

Reason #1 Zero commission when you sell a house privately

It will always boil down to brass tacks, the bottom line. Agents take their cut for service you could do on your own. Sure, there are legal issues to deal with during the process, but you can handle these if you’re single-minded enough, and if you’re up to do the legwork.

sell a house privately in Australia realestate

Contrary to popular notions, real estate buyers respond well to For Sale by Owner listings. It means no agents are involved, and buyers can deal with owners without the ambiguous filter of intermediaries.

Reason #2 Great Pricing of For Sale by Owner Homes

You can afford to compromise when the markdown is lopped off your property’s price point. Removing traditional agents from the equation just gives you more freedom to negotiate. Some consider it risky business to do things on your own, but would you really let a commissioned stranger negotiate for you?

If you have a good idea of your property’s value, then you can hold your own, even in a saturated market. Again, it will all depend on the legwork you do, but the payoff is well worth your effort in the end.

Reason #3 Negotiating a No Agent Property Sale

Potential buyers love a great bargain, but you won’t settle for less than your property’s worth, would you? It must be understood your head should be in the right place during the negotiation. It wouldn’t be smart to demand a price point that’s thirty years out-dated. The price point should be realistic, with enough leeway for compromise.

sell a house privately in Australia realestate

In any case, buyers are assured the offer directly comes from you, the seller. You can hash terms out, it could be painstaking, and the prospect could be a dud. Roll with the punches and do better on succeeding opportunities.

Reason #4 Exposure in the Real Estate Scene

The real estate agent’s debate is moot, especially when there are alternative services you can employ to maximise your property’s exposure. You can pay flat rates to publish your property on listings, and you decide how far you want to extend its reach.

As for the viewings, you can stage the property, accommodate prospects on your own. Who can challenge your knowledge of your own house, with all its quirks and features?

sell a house privately in Australia realestate

Reason # 5 Home Buyer’s Perception

Okay, you’ll encounter potential buyers fronted by agents of their own. That’s basically the misconception with For Sale by Owner listings. These are considered high ground in the housing market, and many think you need an expert of sorts to represent you if you’re going to buy.

Buyers’ agents are turned off when it comes to No Agent properties because it negates commission on their end. Think about it, though. In an ideal scenario, you’re dealing directly with the buyer, and both parties should hold their own without ambassadors. Selling your house on your own basically cuts middlemen on both ends of the transaction, leaving more room to bargain and compromise.

sell a house privately in Australia realestate

With all things considered, For Sale by Owner real estate listings appeal to potential buyers, because these properties are stripped off the services of traditional agents. You’ll deal with the same challenges, face the same competition. You’ll be surprised how much you can earn from the property, and you’ll have bragging rights for closing the sale on your own.

Sell your house with us today! For a nominal fee, we will help you sell your home fast. Learn more about selling a house privately here.

Other blog posts you’ll love:

Houses for Sale: How to Sell to Millennials

sell my home houses for sale by owner in Australia realesate

During the long-drawn process of selling a house, you’ll acquire the art of the customized pitch. Apart from the core, non-negotiable features, you’ll notice every buyer has preferences when they’re scouting houses for sale in Australia. Some loved what you’ve done with the paint job, but with others, not so much. Could you mulch the lawn so they’ll reconsider, and while you’re at it, build a dog house for their pooch?

With all things considered, the younger generation (those born in the early 80s and later) is also staple fare in real estate prospects. Millennials have become the catch word for what’s hip and contemporary, but this generation is also stained with a few misconceptions. In any case, you should expect younger prospects committing to viewings. Adjust your pitch to appeal to their preferences when they walk in.

Here are five features millennials look for in houses for sale. Your for sale by owner property may not meet some of these requirements, but then again, it’s all fair game in the no agent property market, and it’s possible to close the deal with the unlikeliest of prospects.

sell my home houses for sale by owner in Australia realesate

Feature #1: Location of Houses for Sale

Okay, so you really can’t do anything about this. It’s either your property is in prime or orphaned location. Some people just like to live closer to the city, while others prefer homestead life. The key is selling your for sale by owner property and pitch its appeal is your can-do zeal goes a long way.

There’s a misconception millennials prefer to live in the bustle of the city. You’ll be surprised many of them are looking for houses for sale in the suburbs, the outer reaches, and beyond. It’s best to ignore this stereotype at the outset, especially for prospects who went so far as to request to visit your house.

Feature #2: Low-upkeep No Agent Property

It’s confirmed millennials have various interests outside the home, and this is justified because they still have energy to try different things. Low-maintenance houses for sale is a requirement for almost every buyer, but this can be a deal-breaker for a millennial who prefers a home with minimal upkeep.

You have to cover all the essential renovations and repairs anyway, so you only need to worry about prospects who nit-pick. You can’t please everybody, so you’ll just have to let a few potential home buyers slide.

sell my home houses for sale by owner in Australia realesate

Feature #3: An Open Floor Plan when Selling a House Privately

This is particular to millennials who prefer open layouts to self-contained, compartmentalized spaces. This trend appeals to all generations, but millennials appreciate the freedom of transitioned real estate space.

You’ll know if your house for sale is ideal for an open layout when it’s empty of furniture and fixtures. Otherwise, you can rearrange furniture to showcase what prospects can do with the space. It’s a good idea to remove portable walls, also furniture that functions as dividers.

Feature #4: Features for a Home Office

sell my home houses for sale by owner in Australia realesate

Millennials like to mix business with pleasure, blurring the traditional idea of the day job. Home-based work is practically the norm, and your property is a prime pick if it’s optimized to function as a home office.

A guest room may be converted into a home office. This complements the preference for open floor plans, providing smooth transitions between work and home life. It’s important your area has great cell coverage and internet providers, though. These services are non-negotiable for telecommuters.

Feature #5: Traditional Homes for Sale with Updated Features

You’ll have to scrap the notion millennials prefer contemporary homes for sale in Australia. Traditional styles also appeal to the younger generation, as long the house is functional, also located in a neighbourhood with all the essential amenities.

The key words are “efficient,” “affordable,” and “amenities”. If you’re confident your no agent property possesses these features, then you’re off to a great start with potential buyers. Basically, millennials want to live in affordable, functional houses, with reasonable proximity to the city and surrounding schools. Square footage is secondary.

sell my home houses for sale by owner in Australia realesate

Unless you’re catering exclusively to millennials, note this generation is only a subset of potential home buyers. It pays to be conscious of their preference, but it’s also likely you’ll have baby boomers or the generation X considering your property for sale. It’s okay to take a pot shot and see what sticks, however. As long as you seal the deal, does it really matter if the buyer transforms your house into a love shack or a Google funhouse?

Did you like this post? Sell your no agent property fast with these other real estate tips from our regularly updated blog:

How to List your For Sale by Owner Real Estate Property

How to List your For Sale by Owner Real Estate Property

We have great news! Our website now allows you to add your for sale by owner real estate property listing.

In this Youtube tutorial that will get you closer to closing a For Sale by Owner deal, you’ll learn how to:

1. Create your Username and Password
2. Use the ‘My Property’ Dashboard
3. Add your property’s details
4. Add your property’s images 
5. Add inspection times so you only receive visitor during your chosen schedule
6. Make a payment. It’s safe and easy!

Are you wondering “how do I sell my house privately“? If you need help with taking photographs and dealing with buyers who come over to check out your property, you’ll love these tips from our blog:

5 Ways Emotions Cloud Judgment when ‘Sell My House’ is the Goal

for sale by owner no agent property realestate Australia

You should sever emotional ties with your home the moment you decide that “sell my house” in Australia is your top goal. This is easier said than done though in a for sale by owner deal. It also depends on how much time you’ve spent building a life on the house. It’s understandable, especially if your home is etched as the backdrop of treasured memories. Do remember the day you moved in? Let the nostalgia sweep over you, let it sink in, take your time.

Okay, now here comes the rude awakening: you’re selling the house for money. The thought can be repulsive and unromantic, but it is your goal at the end of the day. It’s also worth noting your emotions get in the way of a good offer, if your attachment to the house compromises good judgment. Here are five emotional decisions that ruin your chances of closing on a sale.

Mistake #1 You don’t want to consider a price cut

Your house is the best option on the for sale by owner market, and for good reason. You may have invested on the renovations, or it’s located in a good neighbourhood, less than an hour’s drive away from the area’s hot spots. The price you’ve set should be justified, right?

for sale by owner no agent property realestate Australia

The truth is you can never really tell what the market is thinking. But if there’s one thing that would catch buyers’ attention in a no agent property deal, it’s the price tag. One of the consequences of refusing to compromise is waiting for an offer that might not come around. If your house is on the listing long enough to be ignored, you’ll renew interest on the property by lowering the asking price.

Mistake # 2 Nostalgia gets in the way when you’re thinking “sell my house”

When your house is home to decades of memories, letting go can be a serious drag. If you know the house from the inside out, every nook and cranny, all its quirks and flaws, dwelling on these memories can affect your decisions when it’s time to sell.

for sale by owner no agent property realestate Australia

You have to accept the house is just another property to sell, which means your decisions shouldn’t be based on your experience with the place. Nostalgia can affect pricing, staging, negotiations, feedback, and closing, so you should keep your emotions in check and let your brain call the shots.

Mistake # 3 Celebrating the sale even before it closes

This is bad judgment at the outset, since you’re counting chickens before the eggs hatch. If you’re able to score a deal that’s as good as done, wait until the sale closes before you plan the aftermath.

You can botch a good deal in tragic ways when you don’t approach your goal of “sell my house” smartly. You might forego renovations you planned beforehand, spend your expected proceeds before the buyer’s loan confirms on the sale. You can also try to negotiate a higher price, thinking the buyer is interested enough to consider.

for sale by owner no agent property realestate Australia

Choose to think the for sale by owner deal isn’t a sure thing until all the paperwork is finished; in the meantime, make sure you have all bases covered if case the deal falls through.

Mistake #4 Failing to read the local real estate market

You have to consider your no agent property in perspective. Who are your target buyers, and what does your house have that appeals to them? For instance, does it have plenty of open space, friendly to pets and children? Buyers also value the property’s proximity to schools, hospitals, shopping centres, transport terminals.

It’s better you’re particular with the pitch details, especially on the listing. You may cover all demographics with a broad-sweep listing, but you won’t please everybody with it. Maximize your house’s appeal and entice your target buyers with pitches they want to read.

Mistake #5 Basing price on what you need, not on the property’s fair market price

You’re looking forward to future prospects, even while your house is on sale. Is your property’s price grounded on how much you need to finance your plans? Do you want to pay for a trip abroad with the money you’ll gain from the sale?

for sale by owner no agent property realestate Australia

You have to separate future costs with current needs. The housing market operates under conditions that are different from your criteria for worthwhile investments. Let future plans simmer in the back burner for now, and ensure your for sale by owner property is priced competitively. Either that or you’ll have to postpone plans indefinitely because you’re having trouble closing on deals.

Focus on the here and now and your goal of “sell my house” with razor sharp accuracy. Keep your prospects grounded. Sell your home free from attachments; you’ll realize it’s not yours to keep sooner or later. On the flip side, closing on the sale will help you move on and the sooner the better.

Sell your house privately in Australia with our amazing tips:

‘Sell My House’ Goal? 6 Home Renovations that Devalue Your House

for sale by owner sell my house privately in Australia realestate

Here’s a thought to keep you up at night (other than repeating the mantra ‘sell my house fast, sell my house fast!’): your house might not sell because of that recent renovation you’ve made. Aren’t people crazy not to appreciate a newly painted house? Well, there’s a reason why neutral shades are the safest picks, and bubble gum pink isn’t exactly neutral. If you’re thinking “how do I sell my house privatelythen listen closely.

The biggest mistakes usually come with serious costs, and sadly, this is the case with many who decide to sell their houses in for sale by owner real estate deals. They invest in renovations, all the bells and whistles, and then wait in dismay as the house is passed over by potential buyers. Consider these six renovation jobs that actually hurt your resale value, so buyers don’t tag your house as a reminder of everything they could do without.

#1 A colourful paint job

Make no mistake about it, a lot of sellers fall into this trap. You can have your way with colours until you decide to put the house on the market, but even then you’ll have to give the place a new lick of paint, in any of the neutral colours.  If you want to meet your goal of “sell my house” then you’re going to have to go the neutral path.

for sale by owner sell my house privately in Australia realestate

Yes, neutral colours are as boring as an office utility room, but unlikely or quirky shades only appeal to a small subset of society. If your house’s paint job is best described as trippy, weird, or quirky, then you seriously need to repaint, and pronto.

#2 A converted garage

It’s a tricky dilemma, converting a garage to expand the house’s living space. For one thing, a lot of people would prefer you leave the garage as is, but then others don’t mind the extra room. The feasible solution is to skip the renovation and let the buyer decide what to do with the space.

The preference varies with the location, and the benefits depend on the extent of the renovation. If you decide to convert the garage, then it should end up with comforts and amenities consistent with the rest of the house. Otherwise, it will always be a cold, converted garage no one actually uses.

#3 Too much real estate personalization

You have to expect this on the list, and it’s likely you’ll ensure the house is a blank space when buyers visit. There are small details you might overlook, though, things that are dead giveaways to others. Those outside looking in might think you’re imposing on their preference with a custom kitchen, for example.

for sale by owner sell my house privately in Australia realestate

Play it safe and remove every custom work on your property. If it’s not essential to the structural integrity of the house, it’s a good idea to get rid of the risk. Even though your thinking “I want to sell my house privately”, you have to remember home buyers have their own goals.

#4 Tearing down too many walls

There’s no going back, once you combine adjacent rooms into a larger living space. Sure, it may seem appealing when you undertake it, tearing down the divide between your children’s bedrooms to create a suite. Keep in mind you’ve also reduced private living space in the process.

for sale by owner sell my house privately in Australia realestate

Again, this depends on your discretion. If it’s an old house and you think the renovation helps it compete on the market, then go for it. Just don’t go hammering on the woodwork because you think combining the spaces is a good idea. It may not pay off in for sale by owner real estate.

#5 Building a pool to sweeten the deal

This is one of the most expensive mistakes a seller can make, even for properties flipped for profit. If you think adding a pool puts you ahead of the pack, then you better take a long hot bath and reconsider. If afterwards you’re still bent on pushing through, please don’t.

for sale by owner sell my house privately in Australia realestate

A pool can increase your property’s appeal, but is the investment justified in the payback? Besides, you should have carved a pool before, when you still had plenty of time to enjoy the perk. Not all buyers are keen on swimming pools; others prefer the freedom of having all that back yard space.

#6 Any renovation that’s not up to code

This varies by location, but the rule of thumb is to expect that all buyers do their due diligence, demanding permits before they commit. If by chance there are violations you need to settle, invest your money in ensuring your house is up to code.

It’s either your house complies with regulation, or your buyer discovers they’re about to inherit a world of hurt in buying your property. Earn that kind of notoriety on the market and you’re assured the house will spend eternity at the bottom of listings.

6 Home Renovations that Devalue Your House 5

You should play it smart with home renovations, even if you have the money to burn. Your goal of “sell my house” is most probably for profit, right? Buyers appreciate a pre-loved house, but don’t give them the impression it’s still your house when they move in. Also, some people don’t like shag rugs, so take that dusty relic with you when you move out.

For Sale by Owner Tip: 5 Types of Home Buyers You’ll Meet

for sale by owner sell my house privately Australia no agent property

Home buyers are a colourful lot. You’ve probably met a few schemers yourself if your goal is to “sell my house”. If you haven’t met the different breeds of real estate buyers, then it’s a matter of time until you do. Have you ever hosted a visit and it feels like the buyer was waiting for you to fumble? It’s all fair game for house hunters in both traditional and for sale by owner deals. Many will see your house as easy prey.

It doesn’t have to be this way. If your house for sale in Australia has been sitting on listings for a while, you can expect the whole kit and caboodle of home buyers on your doorstep. As a seller, it’s a challenge sorting through the riff-raff; buyers eventually will telegraph their intentions, though, you just have to wait for cues. These five home buyer profiles help you sort out the best offers.

Type #1: The casual browser

You can break this type into two categories: the seriously interested window shopper, and the time waster. By default, it’s in your best interest to accommodate all interested buyers in for sale by owner real estate, because you never know when someone makes an offer you don’t want to refuse. Window shoppers are also justified to a certain extent, since most of them are just sifting through the listings looking for a good deal.

for sale by owner sell my house privately Australia no agent property

Some house hunt without the intention of buying, though. The key is to trust your gut during the walkthrough. If the buyer walks in like a nosy neighbour and asks too many questions, it’s a sign of mild or casual interest. If you think your time is being wasted and you’re past the point of being cordial, then you should ask the buyer outright, or end the walkthrough on a civil note.

Type #2: The cash buyer

This type tempts you with an offer you can’t refuse, especially when you fall asleep each night thinking “how do I sell my house privately?” but the offer often comes with strings attached.

Even the prospect of having cash buyers on your doorstep is initially invigorating. Someone is buying your house with cold hard cash in a for sale by owner deal where you get to keep all proceeds and not have to pay an agent– what’s not to like?

for sale by owner sell my house privately Australia no agent property

If the catch comes in demands and ultimatums, then you’ll have to reconsider. Cash buyers may come with low-ball offers, or they may demand that you repaint the entire house in their preferred colour before they commit. It’s still your discretion, so long as you know loan-backed buyers are as qualified as cash buyers in the long run.

Type #3: The cheapskate home buyer

You’ll immediately feel you’re short-changed on cheapskate offers. Some also finance their purchase with loans disadvantageous to you, the home seller (nit-pickers from the bank will snoop into your property before the deal is closed). You may even go out on a limb to ensure the sale, like chipping in on the closing cost.

The good thing about stingy buyers is they’re willing to accommodate your demands and this is truer in for sale by owner setups than in old school agent-based real estate. You can skip repairs and have the new owner deal with these. You can also extend your stay on the property, until you have everything settled on your new home. Stingy buyers won’t mind.

for sale by owner sell my house privately Australia no agent property

 

Type #4: The guilt trippers

They immediately frame your home with their children running around the yard, their dog on your porch. They’ll find your cupboards so adorable they’ll visualize where to keep the cereals and flatware. They’ll even send you follow-up letters with pictures of the entire family group-hugging the dog.

While there’s nothing wrong with being cosy and familiar, your focus should be on the money. It’s ruthless, but the bottom line is you’re selling property, not a home. You’re even staging your house so it looks generic. Buyers tugging at your heartstrings should have the money to spend on a good offer.

for sale by owner sell my house privately Australia no agent property

Type #5: The real estate property sharks

These are the most insidious of the lot. They pick up the scent of desperate entries on house listings, and then circle in for the kill. Unless the offers are great, the best place for property sharks is outside, on the curb.

Be cordial with inquiries, but spare them the details, especially when you sense they’re finding flaws to exploit. While some are just buyers in search of a bargain, some property sharks are also house flippers (pun intended), the worst of the lot. They’ll buy your house with the intent of reselling it for profit, which means their low-ball offers will hit you where it hurts the most: your pride and your wallet.

for sale by owner sell my house privately Australia no agent property

If this leaves an impression the game is cutthroat, in many ways it really is. Expect to run in with a few bad offers before you find one worth considering. So, what’s the moral in all this? Good offers don’t often come easy, but these are always worth the wait.

Want more for sale by owner real estate tips? Check out our other blog posts: