Top 7 Ways to Save Money Selling Your Own Home

In light of the current economy and housing marketing, if you’re like most sellers, you’re hoping to save money selling your own home. Chances are, you’re not looking at making the tidy profit you anticipated a few years back. You may even be upside-down on your mortgage, and facing the possibility of having to bring money to the closing.

The good news is that there are several ways you can save money by selling your own home - no matter what the economy is doing. Here are seven tips to help you start the process:

Be sure to have your property inspected before you start marketing it. If there are repairs needed before your home will sell, you want to know now - not when you’ve managed to find a buyer. This is where "time is money" comes into play.

Learn how to sell your own home rather than relying on a Realtor. There are dozens of good resources available to help shorten the learning curve. Look for guerrilla marketing tips you can use to get the word out about your home, rather than spending hundreds or thousands of dollars in advertising. Every penny you save brings you that much closer to breaking even or even showing a profit.

Use the internet to help you save money selling your own home. It’s free or inexpensive to advertise your home online using sites. You should include extensive photos in your ad so potential buyers know exactly what your home is like before they contact you. This will save you both time and money.

Consider listing your home on eBay. The fees are lower than what you’d pay a Realtor or broker, and you’ll put your home in front of potential buyers and investors all over the world. If you can find someone who’s sold their home successfully using eBay, it would be wise to ask for pointers and advice during the process. Don’t hesitate to offer a small consulting fee for their time and expertise - it’ll still be less than paying a commission.

Tap your network. It’s been said that everyone you know knows at least 250 other people. Let everyone you know know that you’re trying to sell your home. You may even want to consider offering a bounty of sorts to your contacts who send interested buyers your way.

Make selling your own home part of your everyday lifestyle and habits. Create some postcards advertising your home, and carry them with you wherever you go. Include pictures, your contact information, and the important facts about your home. You can also modify your email signature to include information (and even photos) about your home. You never know who you’ll reach, and it only takes one buyer to make it possible to save money selling your own home.

Price it right. This may be the most important step in selling your own home. If your home is overpriced, you won’t get enough buyers interested enough to even take a look. On the other hand, you clearly don’t want to give your home away. Be thorough and unbiased in your pricing research, and set the price right the first time around. Homes that are overpriced are doomed to sitting and sitting - and eventually being reduced.

It is absolutely possible to save money selling your own home - and in a market like this, it’s not necessarily much more hassle or work to sell it on your own. You just need to know what you’re doing, and to be open to trying tactics you may never have considered before.

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