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53203 : Real Estate Advice

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  • Home Buying1
  • Home Selling0
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Activity 2
Wed May 20, 2015
Noah Seidenberg answered:
I do not think so but I would let the lender know.
I bet they already know about this.
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Wed Dec 26, 2007
John answered:
Nadia, if you're able to show the home yourself then try listing it on a FSBO site ($300 or so to be in the MLS) or a site like Craigslist or Yahoo Real Estate. It is still a good idea to interview Realtors to get an idea of the market value of your home based on comps that have sold and to know a good Realtor in case you aren't able to sell it yourself. Ask the Realtors how many homes they've sold in the last 6mo, how many they currently have listed, and what their average listing price / close price is. A good strategy would be to list your condo yourself at 3% less than what the market price is. This way, you have an attractive price and are still able to pay a buyers agent if need be. Then use a real estate lawyer to review the offer and counter if necessary. Realtors are licensed but I prefer to have an actual lawyer help with contracts. Hope this helps.

Try FSBO first -- not to save money (although you probably will), but instead focus on selling quickly for the same net sales price for yourself. Read the article I linked to below, it compares FSBO listings in Madison, WI to Realtor listings. It was done by 3 independent economists, not economists paid by the Realtors Association.
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