Jump to content
Chapala.com Webboard

How To Sell Our Home On Our Own


Musicdoc

Recommended Posts

We're trying to find a way to sell our home ourselves, or at least find options.  Are there agents Lakeside that help with the paper work? 

Have any of you done this and have any suggestions.  Dale's mother is ill and we need to return to Florida to

look after her.  Many thanks for you time and trouble.

P.S. We did try a real estate agency.  They showed it 6 times in 6 months to 6 people

Musicdoc.

 

Link to comment
Share on other sites

What kind of feedback did you get from the RE agent?  Any mention of price, condition, etc.? Things that you have control over. Obviously things like location, neighborhood you have no control over. That is where I would start.

Good luck.

Link to comment
Share on other sites

We are coming down to look at properties soon from California.  Let us know what you have to sell.  It would be a long shot with us, since we were thinking about renting for a bit first.  In any event, sorry about your sick parent and good luck with your sale.

Link to comment
Share on other sites

Although the market has picked up considerably, location is still a very big factor and pricing needs to be aggressive.  You and I discussed your sale when we attended your excellent Christmas concert and we discussed things like pricing and liabilities.  For example, kitchens and baths are very important to expat sellers and pricing needs to be consistent with the location.

Generally, unless a market is a very strong seller's market, people don't have a lot of luck trying to sell on their own.  Also, potential buyers mentally subtract the usual real estate commission from what they are willing to offer.

The biggest mistake a seller can make is to start off with too high of a price and then assume the potential buyers will make offers.  People look at properties based on price ranges and the herd thins out considerably as the price goes up.  The real estate market here, and in general, is shaped like a pyramid with the bulk of the sales coming in the lower price ranges.  Here that is definitely under $300K U.S. and in Riberas, for example, the magic number is considerably lower.

Most sellers also have a problem knowing how to show and sell a property because they are too emotionally attached to it.

I can't speak for Mexico but in the U.S. the primary tool for getting buyers is a strong internet presentation.  

Link to comment
Share on other sites

Add the fact that unless you are willing to offer financing, a good portion of Americans are cash poor. The days of them using their homes for piggy banks and borrowing against equity are gone ( for now) So, consider offering owner financing. Listing it in pesos is tricky as the value to the dollar fluctuates daily.

I doubt you'd find a Realtor willing to 'help" you with paperwork, they get commissions as part of the selling function. You could probably self market and sell yourself with the help of a Notario to settle the transaction. You'd just need to get a legal sales contract in Spanish drawn up and probably have a translation done if your buyer is English speaking. You'd still need to figure out escrow accounts and how to fund.

Realtors are reluctant to flood the market with advertising, it cuts into the commission. Maybe you could offer to pay out of pocket to advertise yourself, flood the papers and internet with ads. 

Offer a CASH bonus to other Realtors to get showings, make sure you are priced to sell, because it is a buyers market given that so few have the kind of cash they had access to 10 years ago.

Our home has been on the market for a year, priced to a point where we'll lose money selling, have made tons of improvements on a 5 year old home and have zero offers, not even ridiculously low ball offers, which tell me they don't even have low ball money.  The volume of credible buyers is way down, media continues to bash Mexico fueling fears, political issues also cloud the market. Maybe if things in the US get uglier, people will pull stakes, but that doesn't seem to be the reality right now.

Just my two cents. 

Link to comment
Share on other sites

37 minutes ago, pappysmarket said:

Before offering any owner financing I would suggest taking to your attorney for advice on how to avoid problems.

Absolutely! The terms of the transaction must be spelled out exactly. Number of payments, amount per payment, interest rates, due dates and penalties up to and including eviction and forfeiting any and all payments. It is not something to be taken lightly and is a separate agreement from the purchase agreement. Drawn up by an attorney and notarized. An ironclad, legally binding agreement with all conditions of the loan covered. Also including who is responsible for all repairs to the home during the term of the loan, as well as utilities , taxes, etc. In some states in the US. know as an "agreement of sale" contract.  

Link to comment
Share on other sites

4 hours ago, Al Berca said:

Only six showings in a six month period and no offers indicate that there are some issues that might need to be addressed.

Tried to PM you, but got a message saying you can't accept messages.

Link to comment
Share on other sites

I know one person who currently is trying to sell on her own, and is  holding DAILY open houses (and getting some interest). BUT --- she has former (years ago) real estate experience, AND she has the house very aggressively priced.

Can't imagine why any real estate agent would help you with paperwork if they were not involved in the listing and/or sale....... but since a notary has to do the final stuff anyway, you might go and ask one or two (or a lawyer, altho' he will be an intermediary) for help in that area.

Also, you might make it clear to all agents you will pay a selling commission only if one registers their client with you, and is able to make a deal on your behalf.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...