Interested in Selling your home "By Owner"? This guide can help you learn the steps and requirements for successfully selling your own home without a real estate agent.

Selling your own home is an attractive option for many homeowners because of the high premiums real estate agents command. For individuals who have sufficient time and are willing to take responsibility of advertising, showing and completing the paperwork required, selling a house by owner can provide higher profits that can be used for their next home purchase, or put towards other financial goals.

If you want to sell a house by owner, you need to know all the steps required to effectively sell your home and be dedicated to the potentially long process. Beyond the time requirements, you will also need available funds for basic advertising expenses. So, how do you know if selling your home yourself is a good fit for your situation? Typically, if you are independent minded, have access to the Internet and are motivated to do the work necessary to sell your home, you can sell your home “by owner”. However, if you do not have adequate time due to other responsibilities, need to sell your home quickly, or you no longer live close to your home, having a real estate professional sell your house may make more sense. http://www.youtube.com/watch?v=b0qoU0M_wIc&feature=fvsr

Professionals in the real estate market often discuss “staging” a home for sale. This term simply means making your home as attractive to potential buyers as possible through decluttering, repairing, and setting up the home for optimal impact to prospective buyers. http://www.homebuyinginstitute.com/staging/

Specific steps you can take outside include enhancing curb appeal by planting flowers, using mulch and making your lawn and sidewalk shine through frequent trimmings. Also consider trimming lower limbs in trees that block a clean view of your house.

Inside your house, remove personal items such as pictures and all excess clutter. The goal is to create a space that buyers can imagine themselves living in. If necessary, rent a storage unit to remove excess furniture, equipment and unnecessary items to help your house appear larger and more spacious. Rearrange the furniture in a conversational format and if you have a fireplace, make it a focal point in the room. http://www.homebuyinginstitute.com/staging/

Repair any broken or worn items throughout your home such as kitchen faucets, door knobs and light fixtures. Put a fresh coat of paint on any walls with dated colors or areas that look worn. When selecting paint colors opt for a neutral palate in lighter colors to appeal to more buyers and make the home reflect more light. http://www.homebuyinginstitute.com/staging/ Make repairs to the roof and any items that could cause concern during a home inspection. Paying for repairs before an inspection can cost less than repairs made under house closing deadlines.

Look at recent sales of homes in your neighborhood and area. Recent house sale information is typically available at your local courthouse or through Internet-based services like Zillow. Use the price list to help you price your home. Try to get a similar per square foot price. If you want your home to sell quickly, consider pricing it under the going market rate and if you feel your home has more features or is in better condition, consider pricing your home a little higher. Also review homes that are currently on the market to know your competition.

Advertise your home. Place a sign in your yard along with a flyer box that has professional looking handouts for potential buyers to browse. Place pictures of the home’s best features on the sheet to help entice buyers to schedule a tour of your house. Also put a few signs on the roads and primary intersections around your house that use arrows to direct individuals to your home. List your house for sale on real estate sites such as ForSaleByOwner, Zillow and your local Craigslist.http://www.zillow.com Contact a real estate company to have your home added to the MLS listings, but make sure your contract is only for the listing and does not provide any sales commission.

Show your house to potential buyers quickly upon request and consider offering an open house to help draw a larger number people to view your home at a time that is convenient for your schedule.

Require anyone submitting a bid on your home to have pre-approved financing, or proof from a bank of sufficient funds to pay for the home in full. Once you accept a bid, draft a formal ‘intent to buy’ contracts. Sample contracts are available for purchase online and in your local bookstore. Make sure to use a contract that is applicable for your state and specify the specific items that will stay with the home, deadlines for closing, inspections and contingencies for delays.

Find a closing agent and proactively work with them to complete all paperwork, schedule inspections as required in the intent to buy contract and by law. http://www.forsalebyowner.com/education/index.php/step-3-paperwork-a-closing On the closing date, allow the buyers to perform their walk through of the home and then go to the closing agent and sign all forms needed. Turn over the keys and any paperwork and receive the proceeds from the sale of your home. You have now successfully sold a house by owner.