PRIVATE SALE

[adamturner]

Hi there all,

Just looking for some more great advise...


I live in BC, and Im about to sell my home privately. What exactly does this entale?

What should I be watching out for?

Im sure all comments will be a huge help for me.

Cheers

ADAM TURNER

 

[LeighF]

First step....get a lawyer

 

[Thomas Beyer]

QUOTE (adamturner @ Jun 25 2009, 11:19 PM) I live in BC, and Im about to sell my home privately. What exactly does this entale?

What should I be watching out for?

WHY ???

My advice: Do not do it.

This works poorly at best in boom times .. it will be a frustrating experience in sluggish times.

It works ONLY if you have a lot of time to do showings, great exposure with loads of traffic that drive s by your sign and if your price is well below market !

Do not do it.

Hire a competent realtor .. negotiate an appropriate fee .. and get worldwide exposure through MLS.

 

[adamturner]

QUOTE (thomasbeyer2000 @ Jun 26 2009, 07:37 AM) WHY ???

My advice: Do not do it.

This works poorly at best in boom times .. it will be a frustrating experience in sluggish times.

It works ONLY if you have a lot of time to do showings, great exposure with loads of traffic that drive s by your sign and if your price is well below market !

Do not do it.

Hire a competent realtor .. negotiate an appropriate fee .. and get worldwide exposure through MLS.
We already have a couple that wants to buy the house, and is already prepared to leave me with a $2000.00 deposit.

These people approached us twice, are very keen and love the house.

So the house is pretty much already sold.

Legaly I dont know what exactly to do.

Hoping to here back from ya Thomas.

Cheers

 

[Thomas Beyer]

QUOTE (adamturner @ Jun 26 2009, 08:57 AM) We already have a couple that wants to buy the house, and is already prepared to leave me with a $2000.00 deposit.

These people approached us twice, are very keen and love the house.

So the house is pretty much already sold.

Legaly I dont know what exactly to do.

Hoping to here back from ya Thomas.

Cheers
I see .. yes, get a lawyer before you sign a contract.

or get help from a realtor for a small fee .. and use a standard contract.

 

[Dan_Eisenhauer]

You are the rarity if this deal does come together.

If you know nothing about selling, then I suggest you take Thomas` advice and get a lawyer. You will need to address the following:

* Purchase price
* Down payment ($2,000 sounds low, but is legal)
* Closing date (called completion date in BC)
* Method of financing
* Date for financing to be approved by purchaser (within 2 weeks is ample time)
* Is there to be a ppty inspection? Approved by what date?
* Are there any inclusions... drapes, curtain rods, appliances, etc?
* If there are tenants, are you giving vacant possession or not?
* Any additional items you and the purchaser agreed to

Generally, an agreement spells out who does what and when, and what happens if those conditions are not met. Take that info to your lawyer and have him/her draw up the contract with all the boiler plate clauses in it.

If this deal does not come together and you are thinking of going FSBO, take Thomas` advice again, and forget it. FSBOs do sell from time to time, but rarely in a tough market condition. If they did well, the companies that show home owners how to sell privately, such as CommFree.com, would stay around. But most FSBO companies have a short lifespan. I predict CommFree.com will be gone by this time next year.