How Do I Sell My House Without A Real Estate Agent?

If you are thinking about selling your home, then you may be asking yourself, "how do I sell my home for the most possible money?". Well, the answer to that is incredibly simple...Sell it yourself without using a real estate agent.

When most people think, "I want to sell my house", they immediately think that they will need to hire a real estate agent to sell the home for them. While this might have been true in the past, technology and the internet has made it quite easy to sell a home on your own. If you follow the steps listed below, you should quickly be able to close the deal and sell your home for the maximum amount of profit.

List Your House Online With FSBO Websites

The first step to selling a house without a real estate agent is to list the property on one of the many for sale by owner real estate websites. The majority of these sites charge quite small fees to list your property, which can save you a lot of money compared to the very high commission rates charged by real estate agencies.

Creating a listing on these sites is quite easy, and only requires that you sign up, choose how to pay for the listing, and then upload pictures, a description, and any other relevant information.

You can then just sit back and wait for people to start to show interest in buying your home.

Receive Enquiries & Talk to Potential Buyers

After creating your listing, you will most likely start to receive enquiries from potential buyers quite quickly. At this point, you can start a dialogue with them and eventually invite them over to tour and inspect your home to see if it's right for them. You will most likely start getting offers from at least some of the people who came to look at your house, and if you do not get any offers immediately, don't worry. Still, if you have many people come to look but none that wants to make an offer, then you may need to lower your asking price.

Negotiate A Deal with Interested Parties

Once you have received a few offers, then you can start negotiating directly with the potential buyers. This step is vital, as you can try to play the offers against one another in order to get the highest possible price for your home. You should not just take the first offer that comes in (unless it is really good), but instead you should be patient and wait to see just what kind of a deal you can negotiate.

Have Contracts Drawn Up By Your Local Solicitor

Once you have negotiated a price with the buyer and come to an agreement, you will then need to hire a lawyer or a solicitor to draw up the contracts. Under no circumstances should you attempt this step yourself. A solicitor will have experience in these contracts and will be able to make sure that the sale is done completely within the framework of the law. This will help you to avoid any potential problems or headaches that could arise down the road.

Settle Your Property in No Time & For Half of the Cost

One thing that is constantly heard from people who have sold their homes using a for sale by owner website is that the entire process went very quickly. If you are truly motivated to sell your home, then you could complete the entire deal within a matter of days. As soon as you have come to an agreement with a buyer, all you need to do is have the contracts drawn up and signed, making the process quick and easy. In addition, you can feel happy knowing that you made the maximum amount of profit possible by not having to pay the incredibly high commission fees charged by most real estate agents. So why not try to sell your home online and see just how easy it is and just how much extra money you can make by avoiding real estate agents and selling your home privately.

Contributor Profile: Contributed by http://www.nocommissionrealestate.biz – a no commission real estate agency in serving the greater part of Australia.

Ways Your House Can Earn You Money

Housing (Photo credit: james.thompson)

When financial times are tough, we have to make our assets work for us. A house is a large investment and it is important to ensure that the money that has been invested in it is working as hard as it can. Of course, we invest a lot emotionally into our homes as well, but sometimes it helps to view the house from a different perspective, and think of the fiscal benefits our homes could provide. 
By viewing a house as a moneymaking machine as well as a home, ideas for generating extra cash will soon come flooding in. Here are a few to start off with: 

Almost everything is rentable 

Perhaps the most familiar moneymaking scenario is renting out the spare room to a lodger. There are many types of lodgers out there looking for a room. Whether it is a student during the current college term, out-of-town workers looking for Monday to Friday accommodations, or tourists seeking somewhere to spend a few days or even a single night, there is plenty of flexibility in the room rental model. 
It may seem hard to believe, but the rental concept can be extended to cover many other things related to the home. There are people out there willing to pay good money to rent the driveway (for parking), the garage space, and even the back yard of a house (to pitch a tent for a party). Websites exist that can help hook up homeowners with people looking to rent various parts of the house or property. There are even people who will be looking to rent the lawnmower or gardening equipment for a couple of hours. If you are looking to generate some income, take another look at your home and its contents with fresh eyes - instead of being a money pit, it could be making money. 

Buy another house 

We have established that houses can often be efficient moneymaking vehicles, so if there is room in the budget, why not buy another? Admittedly, not many people have spare cash around these days, but those who do are certainly not getting great returns from savings accounts or CDs. It will usually be a far better idea to put any extra money into investments that pay good returns. With property prices at historic lows in many areas and rentals in high demand, becoming a landlord is increasingly popular for those with money to invest. Choose property in attractive areas where rental demand outstrips supply. There are many US houses for sale in premium locations that would make prime vacation rentals and yield a healthy return on investment. 

Film star homes 

Spectacular, unique, well located, or just plain quirky homes are always in demand as film locations. TV and film companies are willing to pay good money in return for the use of a home as a film set. Registering with a locations agency can be a relatively simple process and if your home has that ‘star quality’, the house could be earning hundreds of dollars a day just for looking good.
 

Remodel for great returns 

Another sure-fire way of making money from a home is by increasing its value through remodeling. Home improvements such as unique designer kitchens, luxury bathrooms, extra bedrooms, new flooring, garden rooms and conservatories, landscaped gardens and driveways will all help to boost resale profits. This long-term route may take time to reap rewards, but can be very financially beneficial. 
So remember, home is where the heart is, but when money is tight, home can also be where the cash is. 

Related articles

• A Beginner's Guide to Depreciation in Property Development (savealittlemoney.com)
• 5 Remodeling Tips to Increase Your Homes Value (50plusfinance.com)
• 4 Ways to Save Money on Expensive College Textbooks (50plusfinance.com)
• New Ways to Tame the High Costs of College Textbooks (savealittlemoney.com)

Save Money at Home in 10 Easy Steps

(Photo credit: Wikipedia)

Prices are going up on almost everything these days and many people are looking for ways to save money on the things that they buy. While you may not be able to have an impact on the prices of goods, you can take steps to save money in your own home. Following these 10 steps can help you minimise the amount of money that you spend and save money overall.

Start By Refinancing Your Mortgage

It's more than likely that the single largest payment that comes out of your bank account each month is for your mortgage. It's also quite likely that you've got used to it being around - kind of like a well used reclining chair. But mortgage rates fluctuate, a lot. Even if you could shave off half of a single percent, you could save an awful lot of money each month!

Avoid Standby Mode

One way that you can save money at home is to avoid standby mode on your appliances and electrical devices. Many people leave their televisions and computers on standby mode when they aren't using them. While this seems like it might save you some money on energy, it actually does not save you money in the long term. If you want to save money, consider turning off the item completely.

Switch to Energy Efficient Lighting

One of the ways that people waste money is by using lighting in their homes that is not energy efficient. By switching over to energy efficient light bulbs, you can save quite a bit of money on your electric bill every year. While you may have to pay a little bit extra to get the light bulbs, you will save money over the long-term.

Avoid Air Conditioning

Many people leave their air conditioners on all the time when it's hot outside. If you can avoid leaving your air conditioner on all the time, you can save quite a bit of money on your electric bill. Instead of leaving central air on all the time, consider turning it off more often. If you turn off the air and turn on the fan, you can stay cool without the big costs. You may even want to consider installing a window air conditioning unit in the room you spend the most time. This is often much cheaper than leaving your central air conditioning on all the time.

Look at Your Utilities

Much of the money that you spend each month goes toward utilities. Spend some time focusing on what types of utilities you have. Consider whether you can switch over to utilities that are cheaper. For example, if you can switch your heating over to natural gas, you may be able to save money on your monthly bills. Switching over to solar panels could save you quite a bit of money on your utility bills over time.

Cut Down on Energy Waste

Another way to save money on your monthly expenses is to eliminate the energy that you waste. This can be done by improving your home and making it more efficient. Use caulk to seal up windows and put weatherstrip around the edges of doors. This can keep air from going in and out of the home and make it easier to heat and cool your home.

Reduce Water Consumption

Save money by cutting down on the amount of water that you use. Install low-flow shower heads and toilets when possible. Don't leave the water running when you brush your teeth.

Cut Coupons

Saving money on your groceries is another way to minimise your expenses. If you cut coupons and use them when you shop, you can save hundreds of dollars every year.

Do Regular Maintenance

Focus on doing maintenance on your house regularly. If you keep your home up to date with maintenance, you'll be able to avoid major repairs down the road.

Avoid Fees

Stop paying unnecessary fees to your bank, your credit card and other things. Avoid fees like insufficient funds fees and transfer fees and you can save quite a bit of money.

Bonus: Stick to a Budget

If you are willing to stick to a budget, you can save money on your expenses overall. Those who don't stick to a budget end up spending a lot of extra money over the course of a year.

Before Buying A House Try A Financial Dress Rehearsal

Image via WikipediaYou have heard it all before, don't waste your money on renting, buy a house and pay yourself. Owning a house is one of the greatest pleasures you can have. Your place, with your name on the deed, there is no better feeling. I have owned two homes in my life and would highly recommend it. 

But what I wouldn't recommend is all the money it costs to own a house. You can never fully plan for all that will go wrong in your home. Whether it's the water heater leaking, the roof leaking, or the constant upkeep; sometimes you may wish you were back in that no maintenance apartment.

When buying a home there are many things to be considered. You need good credit. You need a down payment. You have to know the housing market so you don't over pay. That's just for starters, the real challenges begin when you move in.

I am the type of person who can sit down and write up a monthly budget with no problem. The numbers come easily after doing it for so long. I know my expenses and my income. It's easy to do because I know what I need to budget for. When you buy a home you are faced with the unknown of what to get ready for. Things will eventually break or need maintenance. It's not, if it will break, but when will it break.

Many people buy that first home and really don't know what they are getting into financially. So why not do a dress rehearsal to see how it could all fold out.

Make a list of all the new expenses you will have when owning your home. Find a perspective home you would probably purchase and use a mortgage calculator to figure out the payment. Add to it what the insurance, taxes, and expenses of owning that home. Take that number and subtract your current monthly rent. Are you able to save that amount every month for two years. If you can't save that amount every month, then you are not ready to buy a house.

Most people believe they can afford the monthly payment and all the extra expenses. It's true some people will be able to afford it, today. But in five years from now, what will be the expenses? They will surely be more. With a home being larger than your apartment, you will have the expense of more furniture and electric. Your yard will be bigger and your responsibility to maintain. What about a nice pool for the kids to swim in during the hot summer days. Don't forget the chlorine and other maintenance items.

You finally have that nice house all fixed up and decorated, but it's empty, it needs the sound of little feet running through it. Now the children start to arrive. Now your costs are rising and seem to never end.

A house is a big expensive financial burden that can sneak up on you with unforeseen expenses. Before you take the big leap into purchasing one, sit down and make a list of what it will REALLY cost you every month and year. Actually put the money aside with a phantom house budget and see if it will really work for you.

Do I Rent or Own When the Kids Are Gone?

I have been thinking about where I'm going to live when all the children are off on their own. What are my choices? Stay where I am, rent ,or downsize to smaller home. We are presently in a 5 bedroom house that my wife and I have raised 6 children in. We have always been comfortable here. The kids have plenty of room and I have a den where I hide from all of them.

Presently 2 have already left to lead their own lives. Another is renting an apartment at college. Two are living at home while attending college. The last is 10 years old and I don't want her to ever leave.

I want to make the decision as soon as 5 years, but can wait till as much as ten years from now. There are several factors to consider.

Do I need the money from the sale of the house to live on? 

My initial plan before the advent of the real estate crisis was to sell my home for a tidy profit and use the proceeds to create a nice income producing investment. That's down the drain for the foreseeable future. In ten years from now I will still be working so still that's not a problem.

Will I be able to handle all the costs of home ownership? 

The general consensus is a home is a good investment and renting is a waste of money. I have done the math and have figured that if I sold my house today, less all the mortgage payments, taxes, new roof, etc. that I have spent, I am at a net loss. So, when crunching the renting versus buying numbers, make sure to include all the costs. You also may want to factor in possible gains if you had invested the equity in your home in something else.

Do I need the mortgage interest tax deduction? 

There are no clear-cut answers because every one's tax situation is different. I have recently refinanced so I am paying more interest at the beginning of the mortgage term. If your at the middle or end of your mortgage you will be paying less interest thus the deduction will mean less to you.

Do I have the personality for renting? 

I have always been in my own home. Will I or my wife be able to to stand the close quarters that renting gives? We are use to the quiet and privacy of being in a home. I have been in the apartment rental business all my life and have seen the variety of tenants that can drive you crazy. You have to be of a certain temperament to live so close to others.

Some people take great pride in owning a home. They like having a garden and putting their own stamp on the house with custom paint, wallpaper and built-ins, which is something you can't do with a rental. If you're a pet owner, you may have trouble finding a rental that will accommodate Fido.

On the other hand, renting gives you the freedom to pick up and visit your children or grandchildren for a few months between leases and not have to pay the mortgage on a house you're not living in or worry about watering the lawn. Another upside to a rental: If you don't like the neighbors, you can move out once the lease is over.




Additional Posts On Renting:

7 Reasons To Not Buy A House

Related articles

• Why Renting Can Be Cheaper (benjaminste.in)
• Own-ward Bound? (time.com)
• Data Porn: Visualizing Our High-Rent Woes Justifies our Rental Lifestyle (sf.curbed.com)

Am I to Late?.

Image via Wikipedia

I am starting this blog with the purpose of chronicling my journey through the financial world. Its a beginning. I am starting late but with a purpose to catch up. I have always liked reading about fiances, now is my chance for the reverse.

I don't have anything saved for retirement. I was counting on selling my home and using that money. But after the housing bust, my house is worth half of what it used to be worth. I realize its going to take lots of cash. So here I start. First get my debts paid off. Get organized on a budget and no more credit.

Why the name "50 Plus Finance" because I am 52 years old. I am going to do it right this time. I have tryed many times to get my life in order but life has happened setting me back to square one. Whats going to be different this time? Good question. Lets find out together.