Real Estate Search and Sale LLC

FSBO Part II

Time to create a timeline and budget for your home sale. 

Microsoft Project is an ideal tool for reaching your goal, as many tasks will occur both consequtively and simultaneously.

Before you grab your clipboard, consider that you are in a serious position of potential liability.  If there is a problem with the home, such as a leak in the basement, and you don’t either make the necessary repair or disclose to the client that there is a current leak in the basement, you may be liable for ALL damages and legal fees.  You may also want to get a home inspection prior to putting the home on the market, so that you will have a better idea of the current condition of the home.

Grab your clipboard and your home seller check list and walk outside.  Keep walking.  Go all the way to the street and turn around.  This is how the potential home owner is going to view your home through their criticle eye.  This is called curb appeal.  If you can’t get the shopper out of the car don’t waste your money on the interior of the home.

Now work your way back in the house.  Go through each hall and room, continuously referring back go the home seller checklist.  Make sure that you write down everything that has to be cleaned, organized or repaired.  RESIST the tempation to perform the work as you are taking note of each task. 

Now determine how much time and expense it will take to make each repair.  Make a note as to who will perform the work.  Do you have a reliable handyman? If you are planning on doing the work yourself, you should keep in mind that you are going to have a lot of other responsibilities.  You may have to manage the contractor; pick up materials; learn how to market your home; organize and clean.  You may also want to budget time for eating and sleeping.

Be sure that you read over the checklist thoroughly!  Then look over it again.

Who will keep the house clean and the yard groomed when it is on the market?  If you are going to hire a maid and lawn service add this into your budget.  Do the calculations and add 15% to the time and 15% to the money that you think that you will need to get your home ready.

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