Selling Your Own Home - A Step-by-Step Guide | by Helen Manning and Thealzel Lee

Front: Selling Your Own Home

A Step-by-Step Guide Helen Manning and Thealzel Lee 1989 Helen Manning and Thealzel Lee ...

Preface

Selling a house privately can be exciting, nerve shattering, frightening and a lot of fun. We did it and saved thousands of dollars. With our help, we know that you can do it too....

Chapter 1: Setting the Price

How much? Let's face it, when you are looking for a house, you do not consider a mansion if you only have buying power for a cottage. Prospective ...

Chapter 1: Finding The Asking Price

1 Comparable Home #1 (1) ...

Chapter 2: Prepare Your Home For Sale

Curb appeal, or can you tell a good house from its cover? The term that the professionals use to describe how good a house looks from the outside is ...

Chapter 2: Spick And Span — Clean And Tidy

Get rid of those cobwebs, freshen up the paintwork, clean off those tiny fingermarks, dehumidify the basement, repair the leaky faucets, fix that hole in the roof and mend those cracks in ...

Chapter 3: If You Can Afford it, Get Outside Help

When in doubt, ask the experts! The Home Inspector your own private eye! Our experience tells us that ...

Chapter 3: What your home inspector should do for you

Examine all systems of the property: Structure settling problems &...

Chapter 3: Home Inspection: How much should you expect to pay for this service?

Our research shows that the cost of the service is based on the value of the property to be inspected. In large urban centres the inspection will cost between $200 and $500, depending on ...

Chapter 4: Use a Lawyer

Your right hand! A private home seller's best friend is a good real estate lawyer. Choose that lawyer carefully. It is essential to have a ...

Chapter 5: Examine Your Mortgage

You could gain an investment! Very few people have the full amount to pay for a property when they buy it, especially in these ...

Chapter 5: Repaying The Mortgage

There are two ways to repay a mortgage: Method 1 The Demand Mortgage The mortgagor repays specific ...

Chapter 5: Financing Your Sale

To take back or not to take back! Under most conditions the best way to sell your property is without passing on the mortgage known as a cash deal. A ...

Chapter 6: Obtain a Standard Form of Agreement to Purchase

Sign here please! A standard form of agreement to purchase is available from your lawyer or most stationery stores. This is the piece of paper ...

Chapter 7: Compile a Fact Sheet on Your Home

Your home's vital statistics! he prospective buyer needs to know many details about a property before the decision to purchase a property can be ...

Chapter 8: Timing

The right place sells best at the right time! ...

Chapter 9: The Action Plan

Follow the critical path! Follow a detailed plan of action when you decide to sell your property. Plan time to research the market, complete ...

Chapter 10: Finding the Prospective Buyer

The countdown begins! You have researched the market, so you know that your property is competitively priced. You have completed all the ...

Chapter 11: It Takes Time To Sell a House

Was Rome built in a day? Do not give up if the house takes more time to sell than you had hoped. Real estate agents will tell you that ...

Chapter 12: Showing Your House

If it shows well it will sell well! Walk over the whole house and tidy up the odds and ends before prospective buyers arrive. When they ...

Chapter 12: Pointers For An "Open House"

Showing your house during open house periods is really not very different from showing it at anyother time except that you cannot use appointments to control traffic flow. Thus, ...

Chapter 13: Dealing With Agents

The guys in the black hats! People who sell their own houses privately do so to avoid the cost of realtor's commission. Though we all have the legal ...

Chapter 14: Identifying the Serious Buyer

Snagging and landing a live one! If prospects viewing the property appear interested, you should calmly attempt to sell it to them. ...

Chapter 15: Negotiating Offers: section 1

Let's get down to some serious business! Congratulations! You have reached another mile-stone someone has made you an ...

Chapter 15: Negotiating Offers: section 2

Consider The Items In The Offer Each individual item in a formal offer should be checked carefully. The ...

Chapter 15: Negotiating Offers: section 3

Property must be free of all encumbrances The term encumbrances refers to mortgages, court judgements, mechanics' liens, and caveats, all of these ...

Chapter 15: Negotiating Offers: section 4

Closing Date On what date do you wish the purchaser to close the deal? A period of thirty to ninety days traditionally elapses between the ...

Chapter 15: Negotiating Offers: section 5

The Sign Back To sign back, means to make changes to the original offer by crossing out the items in question. The changes are then written in and all ...

Chapter 16: The Closing

It's champagne time! You did it! The purchaser signed back the offer with no other alterations. The deal has been made, the parties involved are in ...

Conclusion

Sounds like fun? Selling your house privately can be a most rewarding and lucrative experience. But remember, it does involve commitment and ...

Glossary of Real Estate Terms: A-C

Abstract The written history of your property that you can view at your local registry office. Agreement Of Purchase And ...

Glossary of Real Estate Terms: D-H

Deed The legal document that is used to transfer ownership from vendor to purchaser. Deposit ...

Glossary of Real Estate Terms: House Styles

Bungalow A one floor building with a basement. Cape Cod Storey and a half home with ...

Glossary of Real Estate Terms: I-M

Instrument A legal document; the deed is an instrument. Joint Tenancy Multiple ownership of a ...

Glossary of Real Estate Terms: Mortgage

A loan by a lender (mortgagee) to a property owner (mortgagor) where the property itself is provided as security (collateral). Amortization ...

Glossary of Real Estate Terms: M-T

Multiple Listing Service (MLS) The distribution of listings by real estate boards to its membership. The vendor is charged an extra commission for this ...

Checklist Of Condition Of House

Here is a checklist of conditions to use when you sell a home: ...

Back: About the Authors

Manning and Lee have been involved in the real estate market as gifted amateurs for the past twelve years. They have successfully sold homes privately and subsequently decided to pass on this ...