Home Selling Blueprint

As a real estate investor, I buy and resell houses all the time. Here is my basic selling checklist. If you are considering selling your own house, you should find this a big help.

1) I get the house looking and functioning its best to attract buyers.

2) I determine a realistic asking price for the house. Since my houses are always the "best on the block", I admit I push the price up as far as I think I can.

3) I decide if it makes sense for me to offer any creative selling strategies (such as lease option or owner financing).

4) I decide what terms I want - sales price, earnest money deposit amount, down payment amount, date of possession, splitting of closing costs, other property to be included, and contingencies. It's not just about price!

5) I set up communications to protect my privacy and save time, while still giving buyers the best possible access to me and my house.

6) I develop and implement my marketing plan to attract qualified buyers and give them the best possible impression of my house.

7) I contact my team - title company and mortgage broker - to help me sell my house.

8) I have all the documents I need so I'm ready to receive offers.

9) I know where to get help if I need it along the way. I can to talk to my title attorney and mortgage broker. I can refer to my bookcases of real estate educational material I've gathered over my years of investing. I can network with other successful investors.

10) I meet and talk with buyers. I provide marketing materials to help sell the house. I direct potential buyers to my mortgage broker to get qualified for a loan.

11) Once I have a contract, I deliver it to my title company along with the earnest money deposit. I keep in regular communication with the buyer, the lender, title company, appraiser, and inspectors to keep the escrow process on track. If my buyer doesn't have an agent, I guide them through the escrow process, especially if this is their first house.

12) Just prior to closing, I schedule a walkthrough. I get a copy of the HUD-1 settlement papers and review for accuracy the day before, so there are no last minute issues at closing.

13) I go to closing, sign papers, turn over the house keys to the new owner, and hopefully collect a nice big fat check!

As you can see, it's not brain surgery. But you might want to consider getting a detailed step-by-step "FSBO" crash course to guide you through the selling process as smoothly as possible