I've posted a "For Sale by Owner" add on craigslist, and have received multiple responses. However, most were requesting Land Contract

Asked by iamblessed1968, Lansing, MI Wed Sep 11, 2013

options. Though very motivated to sell, being I'll soon be alone in a (5) bedroom house, I'm unable to grant the request, due to personal reasons. Land Contract may be their only known option to someday own a home. Is there another way?

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8
Nick Sakalis, Agent, Syosset, NY
Wed Sep 11, 2013
Be cautious when dealing with people answering Craigslist Ads.
0 votes
Jonathan Hya…, Agent, Trussville, AL
Wed Sep 11, 2013
I have become very skeptical lately of Craigslist responses. So many scam emails throug that forum. Beware.
0 votes
Rob Stogsdill, Agent, Grand Rapids, MI
Wed Sep 11, 2013
If you are not in a position to do a land contract just tell them you can't. However there are also alternative ways to market your home by yourself although as a Real Estate Agent I also have to let you know that I can take care of all of that and field the calls for you and it could cost you far less than you might think. Give me a call when you get a chance and we'll talk.
0 votes
Thanks. Shortly after posting the question, I contacted an agent and received a response shortly after. We'll see how it goes, and I'll keep your name and offer, close by. Thanks for the advice.
Flag Wed Sep 11, 2013
joe reed, Agent, Wyoming, MI
Wed Sep 11, 2013
I've talked to a lot of FSBO and almost all of them have people contacting them to do a land contract. Unfortunately using craigslist and other websites like that to market your home, that's just the nature of the beast. When using those websites that's the kind of buyer you are advertising to. Like everyone else I am going to suggest using a Full service Realtor to market your home. When using a Realtor you are then going to be advertising to other Realtor's who are working with pre-approved buyers or serious cash buyers. It's all in the marketing, you can do it cheaply but you get cheap buyers looking for a basement bargain or spend about 6% of your home value and have it pay off and most likely have it pay itself back above far beyond the cost of listing it with a FULL service Realtor.
0 votes
Brek Schutten, Agent, Grand Rapids, MI
Wed Sep 11, 2013
There may be a few options. You should definitely check with the buyer about their reason for needing to do a land contract. If a bank won't give them a loan, there has to be a reason and that should make you concerned. One alternative to a land contract would be a lease with the option to purchase. If you would like more information on how to make this work. Let me know and I'd be glad to help out. Thanks!
Web Reference:  http://www.BrekSchutten.com
0 votes
J, Agent, Greensboro, NC
Wed Sep 11, 2013
Cha ching...you've been targeted my friend. I would suggest seeking out credible and reliable sources of information to obtain a better grasp of the situation at hand. You will not be able to make a valid and justified decision until you are clear regarding these type proposals. Good luck to you!
0 votes
Annette Law…, Agent, Palm Harbor, FL
Wed Sep 11, 2013
I am....,
You have very quickly come to identfy a common charactistic of those buyers who are not working with a real professional. They can not qualify for a mortgage....or are cash buyers who have no money. The latter group wears many suits.
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Is there another way?
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....Blessed,
There are nearly 20 ways to sell a home and 15 or more ways to finance a purchase. Which way is most beneficial to you requires uderstanding your situation and/or reasons.
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Too often a home seller encounters real estate sales folk who have only one way to sell a home. These sales people see every seller as a nail and the seller is destined to be hammered. You need to contact a multi-dimensional real estate professional and discuss your situation. There are many solutions available...none of which I am willing to detail here.
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I will advise, youi can not know what's available until you have that consultation. You most certainaly will not get an actionable list from strangers on the internet.
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If you are serious, pick up the phone and call a real estate professional in Lansing Mi who responds to your question and provides you a telephone number.
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Under no circumstances should you sign anything until a professional or attorney has reviewed the agreement and detailed the risks and what is being cloaked.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes
Thank for the advice. Greatly appreciated.
Flag Wed Sep 11, 2013
Anna M Brocco, Agent, Williston Park, NY
Wed Sep 11, 2013
For maximum exposure why not simply list with a broker....
0 votes
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