If you are looking for “how to sell a house by owner”, then you might have observed that such options are quite limited. Selling a home for sale by owner or FSBO does not allow you to create a listing on the local multiple listing service MLS without a realtor. In this case, some FSBO sellers who want to save money look forward to using free websites such as Craigslist to post their homes for sale.
Selling a house on Craigslist may be a good option for you as several types of buyers use Craigslist and might be attracted to your eye-catching listing.
Things to know to sell a house on Craigslist
The sellers can easily avoid paying a hefty 6% realtor commission by selling their homes by creating a listing for sale by the owner on the listing sites Craigslist. You think that selling your home on Craigslist is free, but it is not that easy. When you list your property on the website, you will have to be responsible for every home selling process step such as creating pricing, clicking photos, establishing communication, having negotiations, managing all the paperwork, etc.
Sometimes, using the services of an experienced and local realtor is better cost-wise. The impact they make on the sale price usually covers the commission they charge. You can also find low-commission agents who provide top-rated and full-service and allow you to save thousands.
Here are the things you need to know before you start using Craigslist to sell your home.
- You can post the listing of your house on Craigslist. It is not just free but easy too.
- Traditional buyers and agents often find local MLS and other real estate websites or the transaction of houses.
- Craigslist is a good option for sellers who have distressed homes and have quite a few properties to invest in. The sellers who want to sell their property without paying listing agent fees also use this platform.
- Investors may offer the sellers a non-contingent cash deal.
- Be aware of the scam problems on Craigslist. It may take some time and effort for you to deal with it.
- Going through the route of FSBO is time taking and a complicated process, hence not everyone’s tea.
How to sell a house on craigslist?
You can sell a house on Craigslist by creating a post in just a few minutes. Here is how to sell a house on craigslist?
- In the first step, you need to navigate to your local Craigslist page.
- When you reach, choose the option, “Post to Classifieds.”
- Now look for the option- “Housing Offered.”
- Now, you need to select the type of property you want to list. Choose “for sale by owner” if you are doing it alone. Go for “Real Estate by Broker” if you have an agent with you.
- In the next step, select the community which is closest to you.
- Now comes the time when you will be directed to the listing details page where you need to fill the fields.
- After punching in the required information, you can also add eight photos of your property.
- Lastly, you need to confirm the ad when you receive an email from Craigslist.
The best part of the Craigslist is that you have full listing control which is missing in the case of traditional flat fee MLS service. If you want your house to go off the market, then you can easily delete the listing too since there is no listing agreement. You will be able to reach buyers as there is a pool of cash buyers and investors who want distressed homes on Craigslist.
Since you are carrying out the entire sale on your own, you don’t need to pay the agent fee. In the case of unrepresented buyers, you also get to save buyer’s agent commission too.
Best tips for selling a house on Craigslist
Here is what will help you in closing a sale deal on Craigslist.
1. What is the price of your house?
The first step for knowing how to sell a house by owner is to ensure is knowing the correct value of your home. This is the biggest challenge in the FSBO. The seller must know that if they price their home too high, they will never find a buyer. Also, if the price is too low, then you will not enter a good deal.
To accurately price your house, you can take the help of the home value estimator. You can also choose to run your own comparable market analysis or CMA. Explore the recently sold homes in your area, compare the properties, find similar features, and more.
2. Take interesting pictures
It does not cost much to get professional photographs for your home. It will help your house sell faster and get more money. Else, use the tips below:
- Take photos on a bright sunny day.
- Before taking the pictures, clean the house well.
- Remove all the junk items. Make the area look spacious and airy.
- Open the blinds and drapes.
- Take several shots of the house and then pick the best ones.
- Take many pictures of the bedrooms, kitchen, outer area, living room, and more.
- Your pictures should clearly show the home’s condition. It should also reflect what the potential investors need to fix.
3. Safety tips
Due to the window shoppers and scammers, you need to differentiate who is the real buyer. Here is how to sell a house on craigslist safely:
- You must avoid the buyers who do not give their details and ask for a certain deposit. There are some buyers who insist on using some fake escrow company. Be aware of them too.
- The people who send messages from malicious suspected email addresses or international numbers must also be avoided. If they send you vague queries and include links in their texts, then they might be phishing.
- Ensure to protect your identity and use your craigslist email address.
- Also, do not give your financial information such as your bank account number.
- Do not sign a contract without reading it the same well. In fact, you must call the real estate attorney and ask the person to review the contracts.
- Ask for identity proof of the buyer while dealing with them. The buyers may also like to show you pre-approved letters, proof of prequalification, etc.
- Serious buyers are modest and offer earnest money, which is 1 to 3% of the buying price. Though sometimes it is 10% too.
This was all about how to sell a house on craigslist. If listing your home on Craigslist seems daunting to you, hire a professional. Also, if you are in a hurry, then for sale by the owner may not work for you as it takes up a lot of time and is stressful too. Look for other options that provide professional support as well as save commission money.