There are advantages and disadvantages you should consider when selling your house FSBO in Louisville. We will explain what costs you should expect with an FSBO listing in Louisville and why you should consider using a direct buyer like We Buy Houses in Kentucky to purchase your house.
Costs to Expect With an FSBO Listing in Louisville, Kentucky
Before we lay out the specific costs you should expect with an FSBO listing, it’s important to understand the time that goes into listing a house FSBO in Kentucky. The time it takes to do some of these tasks can cost you money.
Marketing and Staging
When you sell a house for sale by owner, you will be responsible for all of the property’s marketing, staging, and listing. It can be costly and time-consuming to properly stage the home and take pictures that showcase what the home has to offer.
Phone Calls and Scheduling Showings
With an FSBO listing in Louisville, you are responsible for answering all of the phone calls related to the property. You will likely have to filter through spam calls and unreliable buyers to connect with qualified, serious buyers. This is not only time-consuming, but it can also be costly if you have to constantly take time out of your day to return phone calls and schedule showings.
When you sell your house FSBO, you will have to accompany the buyers as you show them the house. This can be uncomfortable when taking potential buyers to each room in the house where you currently live. Additionally, some showings may come up when you least expect them, which can be difficult to navigate when you’re responsible for showing the house.
There is no way to avoid having a buyer ask a question about the house. The difficult part of selling your house FSBO is that you will be the one having to answer those questions. Professional agents have the experience to answer questions appropriately. It can be difficult to answer a buyer’s questions the right way, especially if a difficult question is being asked.
How you see your home may not be the same way a potential buyer sees your home. You will need to separate the emotional attachment you have for your home from the answers you give. Hiring a listing agent—or using We Buy Houses in Kentucky to sell your house—will avoid these uncomfortable questions altogether!
Negotiating and Counter Offers
When you sell your house FSBO, you will see the offers firsthand. This includes many lowball offers from potential buyers. This can be difficult for many homeowners because they feel their house is worth more than the low offers from the buyers.
Negotiating and counter offers go hand in hand with the emotional attachment you will have to your home. This can cause the negotiating and counteroffer process to go awry. You will need to be able to remove the emotional attachment you have to the home to negotiate and counter offers.
You will need to disclose any known issues about the house to your buyers. This may mean spending money on hefty repairs before the buyer purchases the house. Buyers can choose to have the repairs made before the closing date or will take off money in the house’s sale price. Either way, this can come out of your pocketbook and cost more money than you planned.
Earnest Money and Escrow
Selling your house FSBO in Louisville requires you to handle the earnest money a buyer pays when making an offer and beginning a deal. The amount of earnest money can vary, but it will typically be between 1% and 3% of the purchase price of the house.
As the FSBO agent, you are responsible for taking the earnest money and setting up an escrow account. To do this, you will need to hire an attorney to retain the earnest money and set up the escrow account for your buyer.
Proper Paperwork Filing
An FSBO listing requires you to prepare and file the proper paperwork for the deal. This can be difficult and time-consuming if you’re unsure where to begin. You should be extremely detail-oriented to do this job. Any errors in the paperwork can delay closing, which can leave your buyers frustrated or choose to withdraw their offer.
Skip the FSBO Listing With We Buy Houses in Louisville, Kentucky!
At We Buy Houses in Kentucky, we make it easy to sell your house. All of the challenges that come from selling a house for sale by owner are eliminated when using We Buy Houses in Kentucky.
No Need to Make Repairs
You can sell your home as-is without needing to make repairs. We will purchase your home as-is and require no expensive, lengthy repairs that a buyer may require when selling your home FSBO in Kentucky.
No Need for a Pre-Approved Buyer
When you sell your home FSBO in Kentucky, the buyer must be pre-approved. At We Buy Houses in Kentucky, we are ready to purchase your home. You don’t need to wait for a buyer to get pre-approved!
You Choose the Closing Date
We will close the deal on a date that you choose. Unlike an FSBO listing, where you will be at the buyer’s mercy for a closing date, we will work around your schedule to choose a closing date that works for you.
All Cash Offer in 7 Days
Once the deal is done, you will receive your all-cash offer in as little as 7 days. There is no waiting for a buyer’s financing to go through or a contingency to be met. We will purchase your house with all cash in as little as 7 days.
No Inspection Required
A buyer may request an inspection for an FSBO listing in Kentucky, but at We Buy Houses in Kentucky, there is no inspection required for us to purchase your house! If your property meets our criteria, we will purchase your house as-is with no inspection and no repairs.
Contact Us Today!
Skip the hassle of an FSBO listing in Louisville by contacting us. All we need is a little information about you and the property, and we will schedule a time to meet with you and make sure the property fits our buying criteria.
As long as the property meets our buying criteria, we will present you with a written no-obligation offer. You can let us know the closing date that works for you, and we will meet you at a local title company and pay you in as little as 7 days!