When most people decide to put their home on the market for sale they will generally go through a real estate agent for help. Real estate agents are hired to market and sell homes. But it is not the only way that a house can be sold.

More People Are Doing It Themselves

With the market slumping and prices falling more and more people have decided to try selling their home by themselves, using a For Sale by Owner. Selling your home by yourself can be a positive or a negative experience. Knowing what to expect and how to handle certain situation will help make the experience more successful and less stressful.

Why People Use For Sale By Owner

People turn to a For Sale by Owner option for different reasons. The most popular reason is an attempt to save money on real estate commissions. If money is tight or a homeowner owes the bank close to what their home is worth then the percentage of money that a real estate agent takes from the sale of the property can leave the homeowner belly up after the sale. Some people may feel like they can not afford to hire a real estate agent or they do not want to relinquish any of the profit from the sale of their home to anyone else.

Property owners also may decide to try a For Sale by Owner when a real estate agent has failed to sell their home in what they consider a timely manner. If a listing through a real estate agent has been unsuccessful, homeowners may decide to try to do it themselves.

In the next installment we will look at some more aspects of selling your home using a For Sale by Owner.

Property Options Australia
Property Options Blog © 2006 - 2009

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Too often, real estate investors put their money into a property based on what someone has told them, such as the value will rise or a discount is offered. All too often, investors make a purchase without first establishing a clear strategy, or they purchase the wrong type of investment property to meet their specific goals.

In addition, there are times when an investor will have a strategy they are working with that is reasonable, but then they are distracted by a fresh deal that does not suit their overall goal, or purchasing a property in need of restoration without the means to complete the work.

It is critical that you plan your investment strategy before you purchase your first investment property. When drawing up your plan, you must take into consideration the amount of time, money and expertise that you are willing to put into each property.

Create A Strategy That Works For You

Too often investors try to create a strategy for investment that is too broad. For example, there are investors who will buy individual pieces of real estate in a number of different countries. Although they may be getting good deals, managing finance, legal and tax issues can be difficult.

Instead, it may be better for you to aim for two or three investments at a time, making it easier to watch the overall market. It is best to be an expert in a couple of markets, than to be spread too thinly over a large number of investments.

Be sure to include an efficient exit in your investment strategy. It is extremely important to know how long you plan to hold each property, as well as what it will take for you to sell. Your strategy plan should detail how soon you plan to sell in order to effectively estimate your overall profits.

To sum it up, your investment strategy is very important right from the start - you
must consider:

• How will you invest your money, such as commercial, multi-unit, etc.?
• What are your goals, such as profit and timescale?
• How much time do you want to put into your investment for renovations, etc?
• What is your exit strategy?

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Property Options Blog © 2006 - 2009

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When You Are Ready To Seal The Deal

When you find a property that you want to buy there are some important things to remember:

• If you have a real estate agent that you are working with you must conduct all of your negotiations through that agent. Do not go to the homeowner separately and try to strike a deal.

• If you attend an auction be aware that all purchases are final. You will not be allowed to negotiate the contractual terms or have building inspections done after your bid is accepted. You must have everything done before you place your bid. Once your bid is accepted it is too late to do these things.

• Always get a building inspection and pest inspection done before you buy a new property. It may seem like just another added expense to pay but you will find that it is well worth the time and money to have these done. Knowing what you are getting into before you make a deal by having these inspections done can save you thousands of dollar and a lot of headaches in the future. If you know that the house that you are interested in purchasing has problems you may not want to buy it after all. Or you may be able to negotiate a much lower purchase price as a result.

• Get pre-approved for your loan before you start looking at houses. This will save you a lot of time and energy in the long run and will help you to determine how much house you can afford. That way you will not be looking at homes that are not within your reach financially and you will know how much money you need to have saved for a down payment.

• Decide what type of financing you want to get, whether fixed, variable or a combination of both.

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Purchasing a new home is a big step and is not something that should be taken lightly or flippantly. There are several important factors that you should consider when you are looking for that perfect home. Making a list of your goals and priorities and writing down important information can help you to stay organized and focused on what is really important to you. The following list should help you to organize your thoughts and narrow down your search so that you get the house that you really and truly want.

Making A Pre-Purchase Checklist

The first step in making your pre-purchase checklist is to determine what stage of life you are in right now and what your future plans are.

• Are you currently single?

• Are you in a relationship that may lead to marriage?

• Are you thinking about having children soon? If so, how many do you want?

• Are you done raising children?

• Are you willing to commute?

After you determine the preceding factors you can narrow down your search even more by thinking about the following criteria:

• Do you want to live in the city or in the suburbs? Or would you rather live in the country away from the hustle and bustle of everything?

• How close do you want to be to modern amenities and conveniences such as retail stores, hospitals, grocery stores and other services

• Do you want to be close to family or friends, or would you rather live farther away?

• Do you have any hobbies or interests that are area based?

When you are looking for a home having as much information as possible will help you greatly in your property search. In the next installment we will continue to look at more helpful tips to consider when looking for a new home.

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Some Packing Tips

• Make sure that none of your boxes are bending in or buckling out. Your boxes also should not rattle.
• Clearly label each box to show what is packed inside and what room it belongs in. This will help immensely when it comes time to unpack at your new property.
• Organization is the key to an easy and stress free move. If your box is going to be put in storage clearly mark the box to indicate this.
• Do not mix items from different rooms in your boxes. This will make unpacking later very confusing. Put only kitchen things in your kitchen box and only bedroom things in your bedroom box; pack things together that are supposed to be together.

Packing up your belongings to move to a new home can be very disruptive. To ensure as smooth a move as possible consider the following suggestions:

• Do not pack up things that you use on a daily basis right away. Instead start by packing up seasonal items and items that are not used very often. Your essentials should be the last things that are packed.
• Use common sense. Don’t pack breakables with heavy items.
• Never pack medicines, cleaners, polishes or soaps with food.
• Use corrugated boxes to pack your dishes and pack each one separately.
• Use wardrobe boxes for your clothing that needs to be hung up.
• Get some picture boxes to pack your pictures in.
• Remove all your light bulbs from any lamps before packing them up.

When you are packing up things that have many parts, such as curtain rods with screws, make sure that you pack all the parts together. This will make it easier to find them when you are unpacking and setting things up. A good way to do this is to place small items, such as screws or nails, into a plastic bag and tape the bag to the item that it belongs with. Also be careful when packing up electrical equipment. Carefully label all of your wires for easy assembly after you move.

Things Not To Pack

Some items should never be packed and sent off with a moving company. These include items such as money, jewelry, and valuable papers, such as deeds, wills, investments, stocks or bonds. Keep these items with you on your moving day.

You also will not want to pack up anything that is flammable, especially aerosols and anything that is perishable.

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