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

videos on everything related to retiring

early getting out of the daily grind and

getting the most out of your life

consider subscribing right down here in

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


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

halfway through the video so far and if

you're enjoying you know getting some

value from this hit that thumbs up

button if you haven't subscribed yet hit

the sub button - okay back at it now

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