How do I sell my house myself?

First of all you will need the services of a good Lawyer to handle the paperwork and make sure all the laws are followed. I don't know what the cost of this will be but I am sure you will need to shop around for the best price.

What is this disclosure I keep hearing about?

Minnesota law requires that all sellers disclose in writing to the buyer the relevant history such as water damage, modifications, etc. We at ABC Realty use time tested standard forms for this. You will also need to make sure that what you use is current. An example is that as of August 1, 2006 you, the seller, are required to furnish the airport zone, if applicable, that your house is located in. The laws seem to change every year and you will need to be sure your forms are current.

How much money will I save if I sell the house myself?

This depends on how much marketing you do, if you have someone list your home in the Multiple Listing Service (MLS), and what the cost would have been by using a Realtor. The price you pay a Realtor is negotiable and can vary anywhere from 4% to 8% of the price your house sells for. This includes listing your house on the MLS, advertising, web services, open houses if you do them (not every body does), yard signs and any other agreed to marketing strategy.

What will my closing costs be?

You will need to find a Title company to work with you to determine the fee's involved and they will need to process the paperwork with the governing agencies involved. We use Edina Title and Rochester Title where I have had very good luck with them both in making sure all the work is done in time for closing.

How do I schedule showings for my home?

This depends on what your work hours are, how many open houses you plan and how available you want to be for buyers. Buyers tend to have limited times available to them and you will need to be available when they are. Welcome to the world of Real Estate!

Should I use a separate phone number for advertising?

That is up to you so you can separate the selling numbers from the personal ones. Realtors have a work number which is available for business use and it is a good idea to know if the call is a buyer or personal. You may also want to be sure you have an answering machine available for when you are unavailable.

What are the chances of me selling my home myself?

The National Association of Realtors says that 80% of all For Sale By Owners eventually decide to list with a Realtor. You will need the time, patience, contacts, and finances to learn how to sell your own home, an up hill battle.

This is not a complete list of things you will need to cover but it is a good start!