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Why For Sale by Owner is a Risk You Don’t Want to Take

Last updated on November 4th, 2021 at 11:51 am

You might think that selling your own home without the help of a REALTOR® is a safe and beneficial option due to the eradication of commission. However, what you don’t know is that selling your home privately may actually put you at risk. These risks can be significantly severe and even include theft. A common misconception is that the only job of a REALTOR® is to fill out paperwork and put up a sign. This is most definitely not true and the expertise and the knowledge that a REALTOR® from the Geoff & Bobbie McGowan Team brings is invaluable.

The Risk of Theft

If you are planning to sell your home by yourself, then you are going to have to deal directly with potential buyers. It may be difficult for you to sift out the serious buyers from the time wasters and even more seriously from the people that may be out to scam and steal.

It is highly likely that your home will be empty during the day as the occupants of your household will be at work or at school. This is information that you will readily impart to a buyer without even thinking about it. For example, if they ask to view your property at 2 PM you may simply reply by saying “I’m sorry, but nobody is home during the day, could you come by in the evening?” That simple sentence has told this stranger that your house is empty all day long, making your home vulnerable.

Furthermore, it is likely that a potential buyer would want some details about the property before arranging a viewing. These details could include the security devices within your home. If you give this information, you are again leaving your home vulnerable, however if you don’t, you may lose a potentially serious buyer. This process is a dangerous tightrope to walk, but one that a REALTOR® can walk with ease.

The Risk of Losing Value

If you are not marketing your home in the correct way and also vetting potential buyers to make sure that they really are viable candidates, then it is likely that offers to purchase your home will not be forthcoming. When this happens, your property will be sitting on the market for a prolonged period of time, this will make buyers think that there is something terribly wrong with the property.

You may be forced to drop your asking price far below the true value of your home that could significantly affect the future of you and your family. This is especially troublesome if you have already purchased another property and end up carrying two mortgages.

Don’t take the risk. Protect your investment and your peace of mind by calling Geoff & Bobbie McGowan to sell your home in Ottawa.