With Roseville home prices on the rise and buyer demand strong, some sellers may be tempted to try and sell their homes on their own (FSBO) without using the services of a real estate professional. It’s one of the most damaging things you can do to your financial future. There’s no way to say it delicately, buyers sue – and typically for good reason. The biggest pitfall of selling your Roseville home is knowing what to disclose and how to do it.
I take a very strong position when it comes to my fiduciary duty to my clients. One thing that I teach my Roseville home sellers is: You should not be talking about the sale of your home. It’s an important business transaction and anything you say can be used against you, really.
Let’s look at a couple of examples.
How are you going to know who is a buyer that can afford your house or is a person coming to take a look at what belongings you have for them to steal.
You tell a Roseville home buyer who stops by to see your home that you’ve already bought another home and you need to sell this one quickly. That buyer may think: Wow! These people are desperate. They’re paying two mortgages! That attitude will reflect in the offer you get.
Just being helpful can get you into a lot of trouble – especially when you don’t really know who you’re dealing with.
Roseville real estate agents are trained and experienced in negotiation and, in most cases, home sellers are not. You must realize that your ability to negotiate will determine whether or not you get the best deal for yourself and your family. If you’re giving away too much information, you’re going to give your house away too.
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to sell the home yourself:
- The buyer who wants the best deal possible. And they think they’re going to get it from you because you’re not paying a commission to any agents. They want the money you’re trying to save in the form of a discount on the sale price of your house.
- The buyer’s agent who solely represents the best interests of the buyer and not you. You have to have protection, especially against a professional realtor.
- The buyer’s lender if the structure of the mortgage requires the sellers’ participation. You’re going to have to talk to your home buyer’s mortgage person. Do you know what to say and what not to? Pitfall ahead.
- The appraiser if there is a question of value – even if there isn’t a question of value, you’re going to have to communicate with the appraiser. Do you know what information to provide the appraiser that will help your house appraise for the right price?
- The buyer’s buyer. If your buyer is selling their house to buy yours, do you know what protections you need to have in the contract to make sure the contract closes fairly? What happens if that buyer changes their mind? Where does that leave you?
There are a ton of things that can go wrong when you’re selling your Roseville house – and at least a few of them will happen. I’ve been selling houses for 20 years. There is still the odd situation that comes up where I need to ask another expert or consult with an attorney. You need to have someone on your side watching out for your interests. And, again, buyers sue. Remember, this is California! It’s a buyer protected state. The laws are designed to protect the buyer of your Roseville home, not you.
All realtors are not the same. As much as people have been taught to believe it, it’s not true. Every realtor runs their business differently, has more or less knowledge than another, more or less experience… The next time you sell a house, ask the realtor how they’re going to protect you.
Moving here from the Bay Area, I’m used to a completely different home buying and selling process. The market there is fierce and as an agent I’ve had to learn to be as well. To find out how I can help you, call me. Let’s talk. There is a difference.