Today’s post comes from one of our many satisfied sellers!
The decision to sell my house privately was one that came with both excitement and trepidation. On one hand, I was intrigued by the possibility of bypassing the traditional real estate agent route, potentially saving thousands on commissions. On the other, I was aware of the complexities that can come with selling a property. I would like to share my experience with you, not just as a seller, but as someone who was once in the same shoes you may be in right now.
The Decision
The decision to sell my house privately was primarily a financial one. With the rising costs associated with hiring a real estate agent, the savings were a significant draw. I realized that the money I saved on commission could be put to better use, such as investing in my next property or offsetting moving costs. Plus, the idea of having complete control over my sale, from setting the price to negotiating with buyers, was quite appealing.
Preparing the House for Sale
The process began with preparing my house for sale. This involved de-cluttering, minor repairs, and a fresh coat of paint to give it a neutral appeal for potential buyers. I decided against staging since my house was no longer going to be presented through traditional MLS channels. Instead, I chose to highlight the lived-in, cozy aspect of my home.
Setting the Price
To set the right price, I did extensive research on homes sold in my neighborhood, considering factors like square footage, age, and condition of the properties.
Marketing the Property
When you decide to sell your house privately, you become your own marketer. I listed my house on popular online property portals, used social media to spread the word, and even made some yard signs. The process was surprisingly enjoyable, as it allowed me to showcase the features of my house that I loved the most.
Negotiations and Legalities
Negotiating with buyers was a learning experience. It taught me the art of diplomacy and gave me a profound appreciation for the intricacies of real estate transactions. I also sought help from a real estate attorney to handle the legal paperwork, a mandatory requirement in Ontario. This ensured the entire process of selling my house privately was legally sound and protected my interests.
Closing the Sale
The closing process was straightforward. With the assistance of my attorney, we coordinated the transfer of funds and ownership with the buyer’s legal representative. When I handed over the keys to the new owners, it was not just the end of my journey to sell my house privately, but also a celebration of a successful and empowering experience.
Looking back, the decision to sell my house privately was one of the best I’ve made. While it required more involvement from my end, the personal and financial rewards were well worth it. I saved on commission, sold on my own timeline, and gained valuable knowledge about the real estate industry.
To anyone asking themselves, “Should I sell my house privately?” I would say, “Absolutely!” With the right planning, legal guidance, and a proactive approach, selling your house privately can be an empowering and rewarding venture.