Seven Sins Of Selling Yourself
September 30th, 2008 categories: Honolulu Real Estate 101
Okay they aren’t sins, but I got you to read the post! Forbes on-line has a very interesting article regarding 7 things to consider when you are thinking about selling your home yourself (without an agent or broker representing you). All seven issues should be weighed before you place an advertisement and put the sign in front of your home. I found the comment concerning negotiating to be powerful.
“Remember that you may be up against professionals who are keep (sic) negotiators and know the sale process very well. As such, they may suggest all sorts of terms and conditions that sound reasonable but really aren’t in your best interest. Even an unseasoned real estate agent is likely to be aware of the implications of various terms and conditions - will you?”
CLICK HERE TO READ THE ENTIRE FORBES ARTICLE.
An issue that is not covered (okay maybe obliquely) has to do with ongoing liability once the sale is closed. In Hawaii, sellers are obligated to disclose material knowledge concerning the property, neighbors and neighborhood. A buyer has two years from discovery of an undisclosed issue to come after the seller. A good broker can help by making sure all of the proper disclosures have been made. Furthermore, if after the fact there is an issue, most reputable firms maintain errors and omissions insurance. This insurance can be called on to help a seller. Seriously, if you are thinking about representing yourself in the sale of a Honolulu condo or house, then my recommendation is to bring in a professional. You have way more to lose by accepting the liability of the sale.
OTHER POSTS WORTH READING!
Honolulu Rental Rates
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
Pricing Your Home
Long Term Investment Makes Sense
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