Selling your home is complicated enough without trying to do it yourself. Plus, there are some serious pitfalls associated with marketing your home as “For Sale By Owner.”
1. Liability — The liability for the sales documents falls on you. This includes any unintentional errors in the contract, omissions on the disclosure forms, or problems with the inspections. If all the required paperwork is not done correctly, then the buyer may try to capitalize on your mistakes.
2. Time — Everything from staging, pricing, marketing, and beyond is entirely your responsibility. You must handle every call, text, email, and showing to ensure your house sells in a timely manner.
3. Exposure — Real estate professionals have many resources to market your home quickly. Without access to tools such as the MLS, you are left using secondary resources, thus limiting your exposure.
4. Safety — Opening up your home to strangers may put you and your loved ones at risk for theft, vandalism or personal injury.
5. Cost — It’s not cheap to make sure your home is only seen by qualified buyers. Unless you have the time to actively market your home, you may have to schedule personal time off from your work for showings.