Save thousands of dollars -- sell your home yourself! Using a broker to sell your home can cost you up to six percent of the selling price -- in other words, if you sell your house for $400,000, you can lose up to $24,000. But you'll save that money if you sell the house yourself, and it's not hard to do! Thoroughly revised and scrupulously researched, For Sale by Owner in California takes you step by step through the entire selling process, from putting the house on the market to transferring the title. Even if you choose to use an agent, this book is a great way to prepare yourself for the home-selling process. Find out how to: -pick the best time to sell -prepare your house for sale -advertise widely and inexpensively -set the sale price -screen buyers for financial feasibility -make all disclosures required by law -negotiate with potential buyers -handle multiple offers -remove contingencies -complete the escrow process The 8th edition of For Sale by Owner in California reflects the most recent changes in the housing market and laws, and now includes beefed-up sections on disclosure obligations, making a house look good and using the Internet to advertise a sale. It also provides all the forms you need, including: -disclosure forms -offer and counteroffer -sales contract -contingency releases -deeds -second mortgage note -and more All forms come with complete instructions for filling them out. A note to those outside California: Even though For Sale By Owner in California provides state-specific forms and information for Californians, there's plenty of material in the book that can help home sellers in the other 49 states as well. Don't sell your home without it! List of Forms Quitclaim Deed Moving Expenses With Tax Consequences Hourly Broker Fee Agreement Sign-In Sheet Disclosure Of Information On Lead-Based Paint And Lead-Based Paint Hazards Protect Your Family From Lead In Your Home Pamphlet Real Estate Transfer Disclosure Statement Natural Hazard Disclosure Statement Credit Information Form Promissory Note Offer To Purchase Real Property Deposit Receipt Short Form Counteroffer Counteroffer To Purchase Real Property Acceptance Of Purchase Offer Counteroffer Revocation Seller's Demand For Removal Of Contingencies Contingency Release Extending Time To Meet Contingencies Release Of Real Estate Purchase Contract Lease-Option Contract

When Is the Best Time To Sell Your House? Introduction Before rushing to put your house on the market, let me suggest that you research the pros and cons of selling your house at this particular time. You may conclude that now isn't the right time and that you'd be better off delaying your house sale, at least for a little while. You will rarely hear a real estate agent say this, of course, because brokers earn their commissions only when a house changes hands. Just the same, if brokers spoke frankly, most would tell you that too many people sell their homes for too little money because they sell at the wrong time or are in too much of a hurry. A. Plan the Timing of Your Sale Put bluntly, there are times when it's unwise to put a house on the real estate market. Why? Because some-times the market is flat and getting a fair price is extremely difficult. I've seen hundreds of houses sell for considerably less than they would have had they been sold a year or two earlier or later. Indeed, in recent years, with fast changes in interest rates and consumer confidence, a few months one way or the other can mean a difference of thousands of dollars in the price of a house. My point is simple. When it comes to selling your house, you are in the driver's seat, if you really want to be. By planning properly, you can choose a good time to sell, set a fair price, and wait until you get it. unfortunately, the reverse is also true: If you don't take the time to really understand how the real estate market works, you can lose a bundle. B. Why Sell Your House? People have many reasons for wanting to sell their house: Job change. You can't -- or don't want to -- commute to your new job from your old house. Personal status or lifestyle change. You get married or divorced, move in with someone (or someone moves in with you), you have a new child, your daughter leaves for college, your spouse dies, your health argues against continuing to live in a house with stairs or in a city with very cold weather, or you've always wanted to try living in Hawaii. Investment or lifestyle upgrade. You're selling your existing home to move up to a nicer one. Your old house isn't that bad, but now you can afford something you like more -- because it's bigger; closer to work; in a better neighborhood or school district; has a pool; is a better investment; or provides something else that's important to you. Financial needs. You can't afford the mortgage payments. This doesn't necessarily mean you're headed for foreclosure or bankruptcy, but it does mean that an unreasonable share of your income is going towards housing payments, and you have other priorities -- like paying your other bills and having cash to spare, taking trips, or helping your children go through college or buy homes of their own. You'd like to live in a place that costs you less per month, or where the cash you take out of selling a more expensive house can make a real difference in the quality of your life. While some reasons are more urgent than others, many situations clearly fit into the "the sale can wait if it needs to" category. This doesn't mean your family isn't cramped since the new baby was born or that it wouldn't be better for your health or pocketbook to move. But it does mean that selling your house next week, or even next month, isn't essential if you are not likely to get the best price. Also, remember that it's often unwise to make major moves or decisions within at least a year or so of a serious emotional shock -- for example, a sudden death in the family, divorce, or job loss -- if the move can possibly be avoided or deferred.

 

Save thousands of dollars -- sell your home yourself!

Introduction 1. When Is the Best Time to Sell Your House? A. Plan the Timing of Your Sale B. Why Sell Your House? C. The Best and Worst Times to Sell a House D. Selling One House and Buying Another E. Benefits of Timing Your House Sale 2. Legal Requirements for Selling Your Own House A. Property Sales Rules B. Encumbrances That May Impede Sale of Your House C. Dealing With Brokers and Other Third Parties D. Legal Prohibitions When Selling Your Own House 3. Tax Considerations When Selling a House A. Calculate Your Gain B. Strategies for Minimizing Capital Gains Tax C. Tax Implications of Short Sales D. Keeping Track of Tax Deductions When Selling a House 4. How to Work With Real Estate Agents A. Services Offered by Real Estate Agents B. How California Real Estate Agents Are Paid C. Standard Broker's Contract: Exclusive Listing D. Modifying the Standard Contract and Commission E. Alternative Real Estate Contracts F. Paying a Broker by the Hour G. Evaluating Real Estate Agents H. Getting Rid of a Broker You Don't Like 5. How Much Should You Ask For Your House? A. Determine Prices of Comparable Houses B. Hire a Professional Appraiser C. Ask a Broker's Opinion D. Learn the Asking Prices of Houses for Sale E. Take the Temperature of the Local Housing Market F. Price Your Own House 6. How to Tell the World Your House Is for Sale A. Advertise-in the Classifieds B. Advertise in Other Media C. Hang "For Sale" Signs D. Distribute Your Own Printed Property Fact Sheet E. Marketing Your House On the Internet 7. Preparing, Showing, and Making Disclosures About Your House A. Handling Phone Calls B. Making Your Home Attractive Before Showing It C. Preparing for a Safe Showing D. Conducting Individual Tours E. Holding an Open House F. Protecting Your Safety and Property G. Obeying Antidiscrimination Laws H. Making All Disclosures I. Complying With Local Ordinances J. Following-Up After the Open House 8. Making Sure the Buyer Is Financially Qualified to Buy Your House A. House Financing Basics B. Evaluating Potential Buyers C. How Bankers Qualify Buyers for Home Purchase D. Seller Financing 9. The House Sale Contract A. Waiting for Offers B. Only a Written Offer Is Legally Valid C. Offer Form Terminology D. Types of Offer Forms E. Understanding the Offer Form 10. Offers, Counteroffers, and Negotiations A. Listing Your House for Sale Doesn't Mean You Must Sell It B. The Offer Conference C. Revoking an Offer D. The Art of Negotiating E. Counteroffers F. Accepting an Offer or Counteroffer G. Revoking a Counteroffer H. Backup Offers and Wipeout Clauses 11. After the Contract Is Signed: Proceeding Through Escrow A. Opening Escrow B. Removing Contingencies C. Title Report and Title Insurance D. Buyer's Final Physical Inspection of the Property E. Closing Escrow 12. What If Something Goes Wrong During Escrow A. The Seller Backs Out B. The Buyer Backs Out C. The Buyer or Seller Dies D. The House Is Destroyed by Natural Disaster E. The Escrow Holder's Role in a Dispute 13. When Your House Is Difficult to Sell: Lease Option Agreements A. Lease Option B. Provisions to Include in a Lease Option Contract C. Modifying and Signing the Option Agreement Appendix Index

"The best all-around workbook guide for do-it-yourself home sellers."

 

"Contains forms and instructions for the entire selling process, from deciding when to sell to closing escrow."

 

"Well organized, and written in a straightforward, clear style…"

 

George Devine is a licensed real estate broker and a widely respected educator in the real estate field. He holds a B.A. from the University of San Francisco, and an M.A. from Marquette University, and has pursued additional studies at San Francisco State University, Seton Hall University and other academic shrines. Currently, he teaches real estate at the McLaren School of Business at the University of San Francisco, where he was named the Outstanding Adjunct Professor in 1991. For several years, George wrote the popular “Real Estate Handbook” column in the weekly Real Estate Guide section of the San Francisco Progress. He is the author of For Sale By Owner and co-author of How to Buy a House in California. Products by George Devine, California Real Estate Broker: For Sale By Owner in California How to Buy a House in California

 

For Sale By Owner in California by George Devine
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