How to sell FSBO in St. Louis
What is FSBO?
The most expensive part of selling a house is often the real estate agent fees. In Missouri, the commission rate for realtors is 5%–6% on average. To avoid these commissions, many home sellers opt to sell their homes FSBO (for sale by owner). FSBO offers home sellers the opportunity to put their property on the market without paying a real estate agent commission. Though FSBO allows sellers to potentially save thousands of dollars, it will require them to take responsibility for the listing, marketing, and closing processes. If you are looking to sell your house in St. Louis without involving an agent, FSBO could be a great alternative. Let’s look at when and how to sell a house by owner.
When should you sell FSBO?
Selling your house “for sale by owner” is ideal for home sellers who want to have more control over the sale and save money on commissions. You may already have your buyer picked out. Or maybe it’s a seller’s market, and you could potentially sell your house faster and for more money than you would normally.
However, FSBO also comes with some risks. Without access to the MLS (Multiple Listing Service), you might not get the same exposure that agents provide, which could lead to less competition and a reduced selling price. Additionally, FSBO requires knowledge of the real estate market and legal processes that buyers and sellers must comply with.
While FSBO allows more seller autonomy and potential for profit, without professional assistance you may be doing more work than it’s worth. You will need to balance the benefits and risks before you make a decision.
How to sell a house by owner
If you're trying to sell your own home FSBO, these are the steps to take in order to get the job done right.
It’s important that you market your house and price it competitively. You should also investigate whether it is currently a seller's or buyer’s market, and prepare the house for sale—clean, repair, and renovate as needed. Consider offering incentives like paying buyer agent commissions to entice potential buyers. You will also need an FSBO contract to sell your house. It is strongly recommended that you hire a real estate attorney to draft the contract.
Lastly, you will need to handle closing process paperwork. Here is a list of documents you will need:
- 2 legal forms of ID
- Affidavit of title
- Bill of sale
- Closing statement
- Purchase and sale agreement, as well as any addendums
- Signed deed
Don’t forget to complete disclosure forms, too. While some of these are optional or conditional, Missouri disclosure forms include:
- Flood zone statement
- Lead-based paint disclosure
- Seller’s property disclosure statement
Keep in mind that when selling FSBO, you are still responsible for all seller closing fees.
Selling to a cash home buyer
Thankfully, if FSBO sounds too complicated, you can still sell your house while avoiding paying real estate agent fees. Selling your house to a cash home buyer is a great way to sell by owner without all the complicated steps. Better yet, with us, you can sell your house for cash! We Buy Ugly Houses® is your local cash home buyer, and we’ve helped sellers for over 25 years get cash for their homes and avoid the traditional closing costs and commissions. And we can help you, too.
The We Buy Ugly Houses® process
Here at We Buy Ugly Houses, we help sellers avoid the traditional sale and get quick cash on their own. You can sell your house to us in 3 simple steps:
- Free consultation: We come to you, so you don’t have to advertise for buyers or deal with listing your property. We love to buy properties in any condition, so you don’t need to do any renovations, either.
- Fair offer: Our local property specialists can give you a fair value offer, sometimes on the same day we come over. You won’t be worrying about what kind of market you’re in, or if you will need to offer any concessions.
- Fast close: We close quickly, sometimes in as little as 3 weeks. If you need more time, we’ve got you. We pay typical closing costs, and we don’t charge any commissions or hidden fees. You get to avoid paying those expenses and can keep all that cash.
Contact us today for a free, no-obligation consultation to get an all-cash offer on your house in St. Louis!