For Sale By Owner In Michigan – A Big Growing Trend Helping Motivated Home Sellers And Buyers
One of the biggest advantages when you list your house for sale by owner in Michigan is that you know you are going to get the profit, not a real estate agent. The real estate agent may charge up to 6% commission of the total price, which can severely reduce your bottom line.
Although it is not wrong to use a real estate agent, in this weak economy many people are trying to save money they would have had to pay a real estate agent. And as a buyer, why pay more for the property when working directly with a seller gives you more negotiation room to lower the price?
Selling by owner in SE Michigan (Southeast Michigan) is booming, as we’ve been noticing lately, and a quick look at newspaper and internet ads across the state shows pretty much the same thing.
Michigan Homes for Sale by Owner
Michigan homes for sale by owner, in short, are the preferred way for many people to sell their home in this declining real estate market.
Selling your own home offers a number of advantages over a traditional real estate listing through an agent. These are the most prominent:
Homes for Sale in Michigan by Owner Owners
- You are in full control.
- You set the price and negotiate the closing.
- You decide when, where and how you will advertise.
- You control open houses, showings, etc.
- As a buyer, you can find Michigan homes for sale by owner at cheaper prices because the middleman (and the fee) are out of the picture.
- For Sale By Owner or FSBO is advantageous for both buyers and sellers as it puts them in direct contact with each other.
- Homes for sale in Michigan by owner generally means lengthy negotiations are reduced because there are no more third parties. The buyer and the seller are in direct contact with each other. Offers are made and accepted or rejected much more quickly.
- Gone is the game of phone tag with an agent waiting to see if an offer has been made or an offer has been accepted.
- Negotiations are more productive because potential sellers and buyers are motivated to agree on terms.
- Buyers can get direct answers to questions about the property from the party who actually lived in it.
Quick tips for buyers:
- Check local newspapers for FSBO For Sale By Owner listings SE Michigan listings are easy to find in major newspapers and on the Internet. Visit mlive.com or subscribe to the Ann Arbor Observer.
- Do your research on the property. FSBO sellers are required to offer full disclosure of information about the property, but just like with a real estate agent, this is not always the case. Or let us place you in a home. As investors, we have unique programs to get you a great home in Michigan, even if you have poor or damaged credit…in the city you want to live in and with a monthly payment you can afford.
- Consider hiring a buyer’s agent or using real estate investors like us if this is your first purchase to help you with negotiations and legal matters.
For Sale By Owner in Michigan
Quick tips for sellers
- Do your research. Find out what the market is like for FSBOs in your specific area. Search for similar Michigan homes for sale by owners in your neighborhood and similar communities. Check out the compositions on websites like http://www.zillow.com. Additionally, real estate investors, like us here at Buy-Sell-Michigan-Real-Estate, can also help home sellers by buying their homes for cash or terms if they’re really motivated to sell.
- If you are considering an owner sale in southeastern Michigan, consider hiring a real estate appraiser. Appraisals can be cost-effective and will give you professional advice on the market value of your home with a one-time upfront cost. Real estate investors like us are also connected to professionals who can do a good job of determining the fair market value of a property.
- FSBO listings (in newspapers and on the Internet) offer cheap and affordable advertising for your home in various locations. FSBO advertising also offers targeted advertising directly to buyers looking for FSBO properties.
- Prequalify home buyers. Require potential buyers to be pre-approved for loans in the amount required to purchase their home. Or if you can’t find anyone who can get you pre-approved, talk to creative real estate investors like us who can get buyers to finance your home if you’re willing to put in the work.