How to sell our own house
How I Sold My Own House: For Sale By Owner Tips & Technique
hi good to see all your smiling faces
again welcome back
how much is your home worth two hundred
three hundred four hundred maybe five
hundred thousand well let's assume 350
what if I told you you could save over
twelve thousand dollars just by selling
your home yourself today I'm gonna help
you through that process
slap hands bump this let's go now my
name is Kai and I play in the real
estate market I retired at 27 live
mortgage free and my income property and
literally just sold another property of
mine yesterday at the time of this
filming now if you want to see more
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this corner button or that big red
button just down below alright let's get
right into this so what I'm gonna do is
I'm gonna break this all down into the
steps the selling process doing it on
your own without a real estate agent and
then we're gonna circle back and I'll go
to the more the details of the whole
process around the paperwork and what
you and the tasks that you are taking
over by not hiring a real estate agent
and what you can do protect yourself too
because there are some some illegal
things that you want to make sure that
you look at but all in all it's super
easy alright so here are the steps let's
break it down the first step do I get
the home ready declutter I cannot
emphasize this enough declutter less is
more when you're selling a home you
don't want to make it look like it's
lived in but the same time you don't
want to make it look too Spartan where
it looks empty so along with this what I
would recommend is going on a Pinterest
you want to design the home so when
people walk in there's a like an initial
WOW factor it's like that first
impression when you meet somebody right
away you either have a positive note or
negative know clearly if you're selling
your house you want to leave a positive
first impression so when I open the door
it's like wow whatever style your home
is go onto Pinterest Google go to house
H o use easy calm
and check out the different designs for
whatever you have ranch-style cottage
modern contemporary mid-century modern
whatever it is pick and choose and
borrow or steal the different themes and
different ways that they set up each
room number two it's fixing basic things
and touch-up now every single home once
it's lived in certain things will need
to be replaced or need to be fixed so
most recently my previous home I had to
change like the tub spouts a a few
things change the garbage disposal clean
out the gas range because it's getting
all mucky and filled with food and then
I had to get the air conditioning and
the furnace checked by professional all
that stuff is pretty standard and then
you want to touch it up too so you want
to make things look nice like if you
haven't wiped down your baseboards for a
while have them cleaned out the window
sills maybe or even repeat the window
sills where the blinds come down and
then chip away at the paint little
things like that adds up it really makes
a difference when you start showing your
home number three taking photos okay
outside of making it look really nice
from the basic fixing and then making
sure that looks good for potential
buyers is taking photos you got to
remember when a buyers coming into your
home maybe less so in a seller's market
but still it's important is that they're
going through everything with a
fine-tooth comb a lot of for sale by
owners they take these really crappy
photos from their phones where the
lighting is wrong they don't edit it
that's not cleaned up well and so hire a
professional if you can't do this or you
don't know how to do it or you don't
want to learn how to do it it's about
150 to 200 dollars and you get a
professional coming to your home they
help you stage it and in the Edit photos
and give you these perfect great-looking
photos here were ones I took back before
I decided to get into photography and
here are the newer ones where I was able
to take good photos after I staged a
home and I edit them edited them edited
edited edited ended I added them I had
them edit number four install some sort
of smart lock garage key code pad or
even which is a little at least secure
just a lock box outside the front door
you probably are an
don't want to be at the house every
single time somebody's gonna walk
through the house with their agent it's
nice to have some sort of smart lock or
a grudge keypad which I would highly
recommend between those two that's
attached to some sort of central Wi-Fi
system so you can get updates and you
can change the code from your phone it
costs maybe about one hundred two
hundred dollars and depending on how
fast you sell the home you can even
uninstall it and return it back to the
store not Stang I recommend that it's
totally doable and that way you can see
when people are walking into your home
and you can also see which codes are
being used so if you give it to XYZ
realtor from ABC real estate agency you
can see that they use that code and then
you can you quickly delete it you can
change it you need to take care of that
all that stuff on the same point if you
want to be super secure what you can do
is you can install ring which will show
you a photo of who's coming inside the
home number five now this is the one
that we're all talking about that for
Sale By Owner how do you get it listed
this is where you hire an online company
or it could be a local agency doesn't
matter whoever can list your property on
the MLS in your local MLS which stands
for I'll put on the screen right here
Multiple Listing Service I believe I
could be wrong but it's more important
not just be on the MLS it's extremely
critical to your success to sell home to
be in the local one whatever is in your
city or your town that's the one that
all the agents are gonna be looking at
the agents from the buyers side
different companies have different types
of packages and amenities that they can
sell to you I personally use out but I'm
not sponsored by them by any means but I
was really happy that my service with
them savy Lane Savi lanes comm and you
can order you know depend on the package
you'll have a for sale sign a physical
one outside in the front yard they'll
create a flyer for you they can even
provide you a lockbox and give you free
consultation with a real estate agent in
that area all right at the same time
when you hire this company to list your
property you also want to be able to
start getting the description together
getting the measurements like the size
the rooms how many bedrooms how many
bathrooms that type of stuff I'm ready
because you have to input that into the
system so that people can search for you
now this is the stuff but where most
people don't want to deal with but
honestly it's with the age of the
Internet it took me maybe a total five
minutes to get all this information and
that you do rough estimates rough
measurements - for the description part
you want it to be well-written and I'm
not a great writer so I jump on to
Zillow wherever and take a look at other
listings
I don't plagiarize but I definitely
borrow and copy some of the verbage that
people use to describe their other
properties you can do the same thing all
right and then number six phone calls
and appointments now once it's listed
your start getting phone calls from
agents usually it's phone calls or text
messages setting up times to check out
the property number seven if you do
choose to you can do open houses out of
the properties that I sold I never
hosted an open house and it might have
had something to do with the market that
I was in I had success without having an
open house I don't feel like open houses
are super successful anyways most people
are online shopping and then a touching
base with their agent to set up an
appointment so but it doesn't hurt
that's the thing it doesn't hurt to have
an open house it just takes more time
and planning and I didn't really want to
do that but it's totally that's there
for you if you choose to and that's
pretty much it you need to do now we're
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we're looking at the actual steps once
we start finding the buyers so what's
gonna happen is that you're gonna get an
offer you either choose to counteroffer
or accept their offer and then you go
through a series of different forms you
don't have an agent but the buyer has an
agent and the buyer or the agents buyer
has the responsibility of doing things
legally they're a legit agent they will
cover the bases because they want to
close a deal so they in essence become
your agent - you don't want to treat
them like your agent but you can
definitely get the correct forms and ask
them questions throughout the process
and obviously they're incentivized
close the deal because you have to pay
their Commission the basic forms that
you need is that you need to do a seller
disclosure the site that you usually
list through can give this to you just
disclosing what you know about the
property there's no extra liens on it
there's no major construction flaws or
anything like that our state we have a
lead paint disclosure basically saying
that all the paint that you used in the
home was within the last X number of
years and from your knowledge does not
continue lead paint so once you have the
purchase offer and agreement all signed
you get an inspection done which the
buyer's agent will schedule and once the
inspections done 3-4 hours is that you
get a repair addendum and the repair had
been done this is where the buyer comes
back to you like hey fix the garage door
opener fix the garbage disposal it's a
chip in the wall that type of stuff so
you don't have to accept it you can also
do a counter sellers addendum and you
can go back and forth here and see what
you do want to fix and when you face
usually I typically fix 80% of the
things there if they're not too crazy
not to outrageous once that's done
you'll get an appraisal and one thing of
note here you'll fail the appraisal if
your smoke alarms aren't within 10 years
and in a lot of states if you don't have
a carbon monoxide sensor in 15 feet of
the bedrooms or the sweetening area and
that's pretty much it let's just wrap it
up you get a purchase agreement you go
back and forth with the counteroffers
once those are signed and good to go you
go through the section and then you go
through the pair addendum and then you
go through the appraisal and then after
that you're good to go
and then what ends up happening is then
the buyer's agent will send all the
paperwork and all the stuff over to the
title company for closing it figures out
how much you owe for taxes how much you
owe on your current mortgage and then
what do you over to the HOA and they'll
consolidate all that and typically the
fees that you're gonna pay to the title
company it's two things
it's the actual service cost of closing
for you which ranges between five
hundred to a thousand dollars and then
the actual insurance the title insurance
for you so usually closing costs around
a thousand or two thousand dollars and
this is forwarded to you before you sign
- so you can review it boom
so see its overall it's a really easy
process it's not that hard and I don't
believe that you need a real estate
agent as long as you're willing to do a
little bit of work a little bit of
upfront planning and it could save you
literally tens of thousands of dollars
it has saved me over fifty thousand
dollars in Commission fees so just a
couple of side notes that's really
important for you is make sure that you
offer a fair or whatever the market rate
is is for the buyer's agent otherwise to
be honest they're not going to bring the
clients to you I've experimented with
this before and always it just seems
once I bring that bump up that
percentage close or really close or
right on par with market that's when I
start seeing a lot more buyers coming
through the property otherwise they just
want to show your property right now
that rate is around two to
two-and-a-half percent depending your
market and then the other thing to the
legal side of stuff is that you have a
lot of forms a lot of stuff coming in
and now what I highly recommend is if
you don't feel comfortable reading
through the forms you don't know where
you're looking at consults a friend who
is in the real estate game or even use
the online sites that listed a lot of
times they provide depending on the
package yet legal advice or they can
scan over the documents for an extra fee
it is worth it just have somebody review
it and making sure that it's all right
and good to go so you don't overlook
anything now you've found that helpful
and you know a life looter yet hit the
sub button right here if you got
questions I'm sure you do because we
went over a lot just leave a questions
down the comments down below and I will
answer all of your questions I promise
sell your own home don't use an agent I
love you all I'll see you guys all in
the next video peace
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