Selling by Owner? Is it worth it?

Asked by Fabiana, Somers, NY Wed Feb 13, 2008

I purchased my home in Westchester, NY exactly a year ago. Now, my husband has job opportunity to move to upstate NY. We put in over 100K in improvement this part year. We will have a loss on sale. Should I try to sell it by owner in order to save the commission money? I sold by owner two time before but while the market was OK. My experience with the brokers in Westchester has not been the best one. Any tips???

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Keith Sorem, Agent, Glendale, CA
Wed Feb 13, 2008
Fabiana
I agree, I would rent it out. If you are considering buying in your new town a short sale would not be a good idea. Discuss with your lender re-negotiating the loan. Due to the hardship of your husband's job change you might have a good shot.

You might want to read my blog.
0 votes
Sandy Nelson, Agent, Olympia, WA
Wed Feb 13, 2008
Have you considered renting the home until you have more equity in the home? It seems that you'll loose money whether you sell by owner, or list with a brokerage.

Sandy
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Mr.P, , Arizona
Wed Feb 13, 2008
You put in over 100K in the first year?

How much extra money will your Husband earn with the new job? ( minus ) How much money will you lose selling the house now? ( equals ) Maybe the job is not worth the move?

As for going FSBO.
Create the fear of loss, price it to sell, offer a competitive buyer broker. You have done this before. Give it thirty days.

One last thing. " We put in over 100K" ......If you did this work yourself?.......Make sure you are up to code.

Good luck
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