| Posted By |
Message |
christy
Mommy of 2
Member since 5/05 6787 total posts
Name:
Christy
|
For sale by owner success stories
We are preparing to sell our condo asap. Can anyone share their success stories or offer any tips? Thanks!
|
Posted 7/14/06 5:06 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
|
Re: For sale by owner success stories
I tried for a little while, and failed. However my neighbor sold her condo in a matter of days FSBO. She posted signs, craigslist, etc, and also leveraged off the fact that people were coming to see my condo and would walk by hers and see the sign on the door that hers was for sale! Didnt make me happy but it all works out in the end.
|
| Posted 7/14/06 5:24 PM |
| |
|
Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
|
Re: For sale by owner success stories
No advice....but  YAY for you guys!!!
|
| Posted 7/14/06 5:33 PM |
| |
|
christy
Mommy of 2
Member since 5/05 6787 total posts
Name:
Christy
|
Re: For sale by owner success stories
Thank you so much!
|
| Posted 7/14/06 5:39 PM |
| |
|
jenny
L O V E
Member since 4/06 2784 total posts
Name:
Mommy
|
Re: For sale by owner success stories
We sold our co-op. We initially listed w/ an agent but were not happy w/ the way it was going. We cancelled them after a few weeks.
I then put an ad in Newsday stating an open house. I put the address of our co-op but people still had to call to get the apt. #.
We had a decent turn out and ended up finding our buyers. Coincidentally they also saw our listing when they were in the realtors office but it was listed for less w/ us. It worked out for us.
My mom was/is in RE and coached us the whole way through. It's not that hard though and I am sure you could do it. If it doesn't work out you can always hire an agent.
Good Luck!
|
| Posted 7/14/06 5:49 PM |
| |
|
christy
Mommy of 2
Member since 5/05 6787 total posts
Name:
Christy
|
Re: For sale by owner success stories
Thank you for that!
|
| Posted 7/14/06 5:51 PM |
| |
|
Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name:
Professional Aunts No Kids
|
Re: For sale by owner success stories
my parents old thier house FSBO a few years ago and I dotn remember them having too many problems. I do remember people coming to the house and just ringing the bell and sometimes my mom would let them in and other times she would tell them it wasnt a good time. Most times the people would make an appt and then come back
Good Luck to you!
|
| Posted 7/14/06 5:55 PM |
| |
|
nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
|
Re: For sale by owner success stories
Christy! Good luck! Do you have a house in mind? No advice, but I'd say definitely check the prices of similar units that sold. The FSBOs in the complex that we saw were way overpriced and on the market quite a while (say over $300 for a 2 bed..). I actually called Coldwell Banker and asked what the units like mine sold for lately.
|
| Posted 7/15/06 8:59 AM |
| |
|
VirginiaDeb
Don't eat me, hippo!
Member since 5/05 9252 total posts
Name:
Deb
|
Re: For sale by owner success stories
My parents bought from someone that listed with FSBO, and that went well...but then they tried to sell with them and had a slew of problems (ie, fsbo showing a picture of the house, with our address, and the wrong desription).
They ended up listing it with a broker.
|
| Posted 7/15/06 9:05 AM |
| |
|
Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
|
Re: For sale by owner success stories
We bought our first place FSBO. It was much cheaper than others in the area, but it was also being sold "as is" It wasn't in bad shape, but the seller didn't want to negotiate after the inspector came, so it worked out for us - for those reasons.
|
| Posted 7/15/06 9:52 AM |
| |
|
Jessee
LIF Adult
Member since 3/06 1260 total posts
Name:
Jessee
|
Re: For sale by owner success stories
We listed our co-op on Craigslist. That was the only form of advertising we used, and it was good enough. I believe you can only post once a week per e-mail address. But, if you want to get it up there more often, you can use another e-mail address to advertise it.
I would recommend the following:
a) have answers to questions readily available (there were several questions I couldn't answer off the top of my head - flip tax, square footage, subletting policy, managment questions). I just explained I'd get back to the people, but knowing what I do now, I would make a list of those questions & answers for yourself beforehand - so you don't miss out on a sale. I don't know how it works with condos, but our management company is a little slow to respond, so if it took more than 24 hours to get an answer - someone could have jumped on another place.
Also, I don't know how it works with co-ops, but if you have a Board - know what they want ahead of time to save yourself the aggravation of selling to a buyer that will not pass the Board requirements.
b) Have an accurate list of fees involved - assessment, taxes, etc. Usually a realtor will gather this for you. If you're doing it on your own, you don't want to "remember" a monthly fee after you secure a buyer, and then have them change their mind b/c it is more than they calculated (or simply b/c they think you're not being honest).
c) Rely on your lawyer. There are tons of questions that you might be asked - I would find out what you're lawyer thinks is a good way to answer them (obviously you don't want to be dishonest, but some information can be worded in a better way so you don't scare your buyer away).
That's all I can think of for now other than to remove clutter and do any "little" repairs before showing your place. Small, inexpensive changes, do help! We have a little galley kitchen and the tile was plain out ugly. DH spent $50 on new tile, and changed it himself and the kitchen looks like a new kitchen.
LOTS OF LUCK!
Message edited 7/15/2006 12:53:46 PM.
|
| Posted 7/15/06 12:51 PM |
| |
|
christy
Mommy of 2
Member since 5/05 6787 total posts
Name:
Christy
|
Re: For sale by owner success stories
Posted by Jessee
We listed our co-op on Craigslist. That was the only form of advertising we used, and it was good enough. I believe you can only post once a week per e-mail address. But, if you want to get it up there more often, you can use another e-mail address to advertise it.
I would recommend the following:
a) have answers to questions readily available (there were several questions I couldn't answer off the top of my head - flip tax, square footage, subletting policy, managment questions). I just explained I'd get back to the people, but knowing what I do now, I would make a list of those questions & answers for yourself beforehand - so you don't miss out on a sale. I don't know how it works with condos, but our management company is a little slow to respond, so if it took more than 24 hours to get an answer - someone could have jumped on another place.
Also, I don't know how it works with co-ops, but if you have a Board - know what they want ahead of time to save yourself the aggravation of selling to a buyer that will not pass the Board requirements.
b) Have an accurate list of fees involved - assessment, taxes, etc. Usually a realtor will gather this for you. If you're doing it on your own, you don't want to "remember" a monthly fee after you secure a buyer, and then have them change their mind b/c it is more than they calculated (or simply b/c they think you're not being honest).
c) Rely on your lawyer. There are tons of questions that you might be asked - I would find out what you're lawyer thinks is a good way to answer them (obviously you don't want to be dishonest, but some information can be worded in a better way so you don't scare your buyer away).
That's all I can think of for now other than to remove clutter and do any "little" repairs before showing your place. Small, inexpensive changes, do help! We have a little galley kitchen and the tile was plain out ugly. DH spent $50 on new tile, and changed it himself and the kitchen looks like a new kitchen.
LOTS OF LUCK!
SO HELPFUL! Thank you so very much!
|
| Posted 7/15/06 11:05 PM |
| |
|
