4 For Sale By Owner Problems You Need To Avoid Or Be Ready To Handle
As we’ve discussed numerous times before, selling your house FSBO isn’t always easy. But do you know what for sale by owner problems could arise? Or which problems are best to avoid? Many sellers don’t know about these before they begin the process. For this reason, we’re going to tell you what to watch out for, so you have a head start.
Have you ever had to reschedule an appointment numerous times? On the second or third time, most people start feeling guilty about having to reschedule. However, not everyone is that self-aware. Some people have no problems with rescheduling four to five times (or even more than that). This can not only be irritating when it comes to potential house buyers, but it can also be very inconvenient for you as the seller.
Consider this scenario: Ryan makes an appointment to come view your FSBO home. Twelve hours before the appointed time, he calls to say he needs to reschedule. You set up another showing for a day and time that work best for him. But when that day comes, he reschedules yet again. As this repeats itself over and over, you wonder how many times to let it happen and how you should go about resolving the problem.
Our one-sentence solution to for sale by owner problems like these is this: after the second or third time, make your viewer aware that if they can’t keep the currently-scheduled showing, you will no longer have time to reschedule another showing. This will make them aware that you’re serious about it. And if they’re serious, they’ll make time for the showing.
Let’s picture another scenario for a moment. You’ve completed almost the entirety of the for sale by owner process with a respectable fellow named Cameron. But on the day of the final walkthrough, he backs out. You’re left wondering what do to and how to reverse the entire process.
Most selling contracts generally have contingencies of some kind that allow backing out for certain reasons. Read this article from SFGate for more details and ways to resolve your problems.
If you’ve never done a for sale by owner, you’re probably wondering what to expect from the buyers who like to negotiate. Not everyone is polite in this area, and some folks have a tendency to push things a little too far. This is why it’s important to know exactly what you want and stand firm in your decision.
Consider yourself in this scenario: you’ve decided on the price for your house, and you have a very nice young man named Ned interested in buying. However, he has his own ideas in mind when it comes to the price. And he continually asks you to go lower and lower.
The first time you feel like going lower wouldn’t be problematic. But come the second or third time, you feel like he doesn’t understand the value of your house. So you have to keep turning his offers down. This doesn’t make him happy. Where do you go from here?
The first thing to have prepared is the absolute lowest you’ll go. If you have this, you don’t have to be concerned about being cheated out of your money. Be prepared to kindly but firmly tell buyers like Ned, “no.” The price of your house is your decision, and you don’t want to be negatively influenced by buyers who pester for something else. Be sure to always be polite, even if buyers become irrational in their offers.
This next scenario we’re going to consider is probably every seller’s top fear. Picture this: you’re giving your prospective buyer, Daniel, a walkthrough of the house when, suddenly, he tips over a table with your great-grandmother’s antique vase. The vase shatters when it lands, and it dents your newly redone hardwood floors. Not only has the monetarily and personally priceless vase been broken, but your new hardwood is going to need repairs now, too.
How do you resolve this problem? While there isn’t a one-size-fits-all answer, it’s best to talk to your insurance agent before you start showings. Ask if your belongings are covered in events like these. Since you aren’t leaving your home in the hands of a realtor, the good news is that you’ll be aware of any problems right away. You won’t be left with days-old problems, unlike some of the homeowners in this article from MPR News. The second floor of one home needed a complete remodel after the steam shower was left on after a showing.
Safety tips for for sale by owner problems
As we sum up this article, it’s important to remember something: every time you invite a buyer into your home, you should treat them as a random stranger. You can’t trust anyone, so you should always be on your guard. For your safety, read this article of safety tips from the blog. The more you learn, the better you’ll know how to handle for sale by owner problems!