Expert: Jessica Bryan - 4/27/2005

Question
I want to know how to market and sell my house on my own. What must I know and provide to a prospective buyer in the state of Michigan? Must I have a real estate lawyer if I have the needed documents and procedures to sell it? If you could direct me to any web sites I would appreciate it. Thanks.

Answer
Dear Ed;
There are lots of web sites that can help you market and sell your house on your own. One of the best is
http://www.forsalebyowner.com .  As for marketing tips, there are many books and videos that can help you with ideas and suggestions.  I suggest going to your local library and checking out a few good books on the subject.
When you sell your own home the most important thing to remember is to be objective.  This is harder than it sounds.  You have to scrutinize the house like a stranger might.  Perhaps you can invite a friend over to point out obvious deficiencies and areas that need attention. A home that is well kept, orderly, decluttered, neutralized, and well-maintained can fetch thousands of dollars more than one that has not had attention to these details. With a small investment of more time than money you can profit dearly! Once you do some cleaning up, fixing up and sprucing up, you will need to run ads, get signs posted and distribute flyers.  Some people choose to enlist the assistance of companies such as Help-U-Sell to list the home on the Multiple Listing Service.  You pay a small one time fee for this service but it will help get the word out quickly and easily to many REALTORS in the area.  If you don't want any REALTOR involvement then you should forego the MLS.

You should consult a sharp attorney who is very active in real estate transactions to advise you on what disclosures you will need for your area.  You also will need certain forms and should have the attorney look over the contract as well before signing it.  Once you sell your home, you will need to have a deed and lien waiver drawn up and then the entire transaction needs to be recorded.  This is usually the Buyer's attorney who does this though so if you feel confident that you know what you are doing, you can forego the attorney's fees and take your chances.  I would, however, STRONGLY suggest that you pay a nominal fee to have someone look over your work to make sure that you aren't making any errors that can come back a bite you later.  In our litigious society, we can't be too careful!  You might also want to visit the website : domania.com and realtor.com for excellent assistance in getting to know the market and procedures.

Good luck and best wishes.
Jessica Bryan
Managing Broker
House to Home Realty Services