How to sell by owner? (Aurora, Naperville: for sale, real estate, foreclosures)

[majka]

Any idea on how to sell our townhouse by owner. Good point is the good school district in Willow Springs. But having four children we are not able to buy a house here with our price range.
Do you think that Zillow is enough to promote our house for sale?
I thought maybe on city-data there is someone interested about our t-home since there are a lot of people searching for houses.
Any other idea, we don't want to hire agent because simply our house is not worthed to do so.

By the way, we are searching to buy a house in Aurora and I am pretty confident that Aurora with Naperville school district it's going to be our next place to live.
Thanks everyone.

[TempesT68]

It's very difficult to sell by owner in this market. I'd highly suggest hiring a realtor.

[chet everett]

There are dozens and dozens of foreclosures in town homes and condos so you face an uphill battle to get anything out of a sale.

Sometimes the real estate agents that specialize in an area will have a file of investors that want to buy places at a steep discount for investment or perhaps even purchase places themselves.

Another angle to pursue is to ask friends and neighbors if they are interested in taking over your place for a given payment.

If you do not have a realitisic price you will get no interested parties.

Even if the price is very low people will still need to have the cash or access to financing. With so many foreclosures you may not find anyone can ft financing.

If you can set a realistic price and financing is possible then it may make sense to get the place listed, but if not I fear that no matter how much effort you put into publicity youngest will not get any offers...

[linicx]

It was hard to sell by owner four years ago, too. It was a waste of time and money for me.

You have to advertize where you will be seen. Realtors buy 1/2 page and full page color ads in the Sunday papers. They contantly buy column ads in the weekly and daily ads. They post signs with fact sheets in the yards. A realtor sold my house in 3 days.

The realtor brought a signed contract in 3 days because my house had curb appeal and it was de-cluttered and staged. It was updated for the least amount of money and the most amount of labor where it was the most afffective - meaning it returned a higher sale price. If you want to know what I did to get my house ready contact me by DM.

If you are not ready to spend the money and take the 6 months to do the work then call a realtor.
The majority of families move between the end of May and mid-August. Very few families with children move in the winter months or during a school year.

[rfr69]

Originally Posted by majka

Any idea on how to sell our townhouse by owner. Good point is the good school district in Willow Springs. But having four children we are not able to buy a house here with our price range.
Do you think that Zillow is enough to promote our house for sale?
I thought maybe on city-data there is someone interested about our t-home since there are a lot of people searching for houses.
Any other idea, we don't want to hire agent because simply our house is not worthed to do so.

By the way, we are searching to buy a house in Aurora and I am pretty confident that Aurora with Naperville school district it's going to be our next place to live.
Thanks everyone.

Your not going to sell wtihout being on the MLS period so you will need to at least spring for the couple hundred bucks it costs to really do FSBO with the sign, mls and a fwe websites they put you on.

I've had my townhouse on the market for 8 months with a realtor and have had 2 showings both at the start and neither of those people were even really considering my neighborhood realtor just kinda showed it to show it.

Also, townhomes can be harder to sell than SFH though probably easier than a condo.

You can get some good deals in Aurora but Naperville school district so thats a good areas to select, thats actually the very same area I'm trying to sell my place in.

Many realtors are hard up for business so you can negotiate commission. I worked out a deal where the buyers agent gets 2% and my realtor is only going to take 1.4%. Basically there's still some incentive for the other realtor to show my place and my realtor is taking a pretty small cut, if he brings the buyer he's not going to charge me the full 3.9% only teh 2% the buyers agent would have gotten.

Its a really tough market, especially when you dont have MLS or a realtor marketing your place. Try to work a deal with an agent. Obviously my guys is not as motivated to sell my placeas if he were getting a full commission but I dont have to sell at all so if it sells it sells if not it doesn't.

your defiantely not going to sell just being on zillow though.

[majka]

We have a realtor who help us to buy a house. She(the RE) advised us to rent a house instead of selling it. Actually, we knew right from the begining that renting our t-home it is going to be a must option.
Selling t-home with RE means approximately 15k below the original price of the house . if we sell by owner and even going below 5k it's still acceptable because we won't have two mortgages which of course means headache.

Now, I am not that familiar with all this RE business but I will ask my Realtor about that investors options who buy houses. I don't even know if this is possible for our t-home, I will ask her.

I know how frustrating must be to sell even buy the house. We liked one house and have been there three times in a week almost ready to give an offer, it is a short sale...well all this is a game the banks game. I believe that people in general just want ether buy it or sell it and be happy!

[rfr69]

Originally Posted by majka

We have a realtor who help us to buy a house. She(the RE) advised us to rent a house instead of selling it. Actually, we knew right from the begining that renting our t-home it is going to be a must option.
Selling t-home with RE means approximately 15k below the original price of the house . if we sell by owner and even going below 5k it's still acceptable because we won't have two mortgages which of course means headache.

Now, I am not that familiar with all this RE business but I will ask my Realtor about that investors options who buy houses. I don't even know if this is possible for our t-home, I will ask her.

I know how frustrating must be to sell even buy the house. We liked one house and have been there three times in a week almost ready to give an offer, it is a short sale...well all this is a game the banks game. I believe that people in general just want ether buy it or sell it and be happy!

Don't mean to be pessimistic but don't even bother dealing with investors. There's so many foreclosures and short sales that can be had for dirt cheap unless your willing to give your house away they can find a cheaper option in a foreclosure.

[Chuckity]

Originally Posted by linicx

Realtors buy 1/2 page and full page color ads in the Sunday papers. They contantly buy column ads in the weekly and daily ads.

I don't know any agent who spends their advertising budget in print. Print is dead for the most part.

Originally Posted by majka

I know how frustrating must be to sell even buy the house. We liked one house and have been there three times in a week almost ready to give an offer, it is a short sale...well all this is a game the banks game. I believe that people in general just want ether buy it or sell it and be happy!

The seller's bank most likely won't even LOOK at an offer that's contingent on sale - which is what yours will be unless you don't need to sell your townhome to get a new mortgage.

[majka]

Of what we already learn from our RE is that foreclosure would kind of destroyed us. She said that if we end up our t-home foreclosure and bank would figured it out that we have another house than they would probably want us to pay all that money back which means 2 mortgages and we would end up with bad credit score and who knows what else. Right now our credit is excellent.

[majka]

Most likely we are going to end up with two houses and t-home is going to be rented. All this is going to be OK if someone is willing to pay for rent and stay as long as possible. Although, we will be happy to sell it even if we have to loose couple of thousand dollars.