Thinking about doing FSBO

[Account Closed]

In a seller's market like we're in, this can save thousands of otherwise Forfeited Tax Free Home Equity in real estate commissions. 

What the average consumer is completely oblivious to is that after 2 yrs of homesteading a property, they generally don't have to pay capital gains tax on their net at closing in home appreciation, from what they bought the property for and what they sell it for in FL.

(Up to 250k  for a single person and $500k for a married couple that they don't have to pay tax on) 

To put this into perspective,  how much does the average person have to gross on their paycheck to see a Net paycheck amount of $1,000?    Maybe $1250 to $1350 gross to bring home $1000?

As a Florida Mortgage Broker and Investor, I know how easy it is to sell property FSBO, it ain't rocket surgery!

 Start with these 4 steps:

1. contact a Real Estate Attorney who will gladly help with the writing sales contacts and will close the sale for you.  

2. contact a Mortgage Broker & Bank Loan Officer to refer potential buyers to so they can get pre-approved if they don't already have a legit qualification Letter  

3. contact one of the sign post companies to come out and plant the typical real estate post in the yard to hang your FSBO sign

4. have a FSBO sign professionally made with a rider sign underneath By Appointment ONLY with your cell number.

5. put together a flyer with pictures and info, sales price, etc. to email potential buyers

Initially, you'll get all the neighbors calling, acting like potential buyers to see what you are asking for the property.  This can be good, as they may have family or friends who my be interested

Then, you'll get realtors calling saying they have a buyer (usually its a friend they use), but often this can be a round about way of them trying to get in the property and meet you in effort to get you to list with them.

Then you will get the people who call...saying, "I'm a cash buyer"   This is usually what comes out of the south end of a north bound bull! 

Tell the "cash buyer" to either put up or shut up and beat it!  (Note: Generally a cash buyer is trying to steal the property anyway)  Make them send you a Bank Letter showing their available funds BEFORE you let them in your house!

Same with all the others, NOBODY gets in without a solid Pre-Approval Letter.  I don't care what you say your credit score is or how many homes you have purchased or that you got approved online with Bank of America ...Bla...Bla..Bla...  you ain't coming in my property without sending me a preapproval letter in Advance!  

If not, there is a line of buyers in back of you, so step aside...next! ha

...REMEMBER the old saying....BUYERS ARE LIARS!  Tell them all to either put up or shut up and step aside!

[John W.]

In my experience, I would rather sell D or C homes FSBO on zillow and think listing with an agent is counterproductive. If you have a nice home in a desirable location that would likely go to bid war, it might be worth listing with an agent. Or at the least taking professional looking pictures and doing a flat fee listing on MLS, and willing to pay Buyer's agent 3% so you don't eliminate a large part of the market.