For Sale by Owner

The final chapter in the For Sale By Owner series.

We officially listed our house on Zillow on May 29, after a few frustrating attempts with the MLS4SalebyOwner website, I was able to get the house listed on the MLS on June 26. Within hours we received five phone calls and three offers. We quickly accepted the best offer. The buyer’s Realtor

came by our house to have us sign the appropriate paperwork. The entire process went fairly smoothly. Being a seller is definitely easier than being a buyer and not having to go through both processes at the same time has made it all the more easier.

We received a full price offer for our house and only had to make a small concession after the inspection to have a wall heater replaced (which probably just needed to be reset) but all in all we felt very good about that part of the process.  Additionally, there were a few additional cosmetic things we considered doing, but ended up not having to. We did not get new blinds on the windows, so most of the windows were not covered at all. The bath tub in the main bath needed to be refinished. We considered having that done, but procrastination paid off. The new owner accepted this as one of the items they would have to take care of.

The only real issue arrived when we went to sign the closing documents. There is a list of fees that the sellers are assigned to pay. My husband was on the lookout for charges that he thought might be erroneous and sure enough he (thought) found one.  Under the section labeled “Reductions in Amount Due to Seller” there is a fee labeled, “Portion of Owner’s Policy Paid by Seller”. We still do not really know what this fee is for. 

The closing agent said it was an insurance policy that protects the owner in the case of a title dispute. But the title company was already paid $766.50 for doing their part and getting a title history and making sure that the property title was not being challenged.  Apparently, this fee is listed in the initial offer and acceptance paperwork and can be negotiated. Lenders require title insurance, even if the title has been deemed “free and clear”. Usually the seller pays this fee. It was about $1000. I guess it pays to read EVERYTHING. And what I would really like to know is who receives this fee? Has a title ever been challenged after a legal sale? Has anyone received compensation from this fee for title dispute?

On a final note, I will be picking up the check today. Now, what should we do with this money?

For Sale By Owner

Two years ago we moved to a townhouse, now we need to sell our first home. My husband wants to do a for sell by owner. The house has been empty since May 5, on June 27 I finally got the house listed on the MLS. It has not been simple. Lucky for us, our daughter sold her home by owner a few years back and she kept track of the details in her blog - Laura's Blog.

First we had to get the house cleaned and ready to show. That took us several weeks. I was still working full time and we could only work on the weekends that we did not have other obligations. Every time we went back to the house I found more things that needed to be cleaned and put in order.

Then we needed to get pictures. I took several with a tablet, but they were not very good. Finally my daughter came by and helped. When I thought we finally had several good pictures, I sent them to a MLS For Sell By Owner service and learned that the, For Sell By Owner sign that I put in the yard could not be in the picture. Then, I sent the marketing information and learned that the words "family" and "children" are not allowed to be in the description. Every task took at least two attempts to accomplish, but most took more. Even securing the key box required a trip to the hardware store.

Now that the house is listed on the MLS we have been receiving one call after another. We have several offers and no clue as to how to respond. I would like to accept the first offer and get it done with, the husband wants to question every offer and figure out what scam the buyer or Realtor is trying to run . We would also like to sell the house to a new family not an investor. So far the calls are about 5 to 1, investor to actual home owner buyer. Do we have another housing market bubble forming? The entire experience is stressful and tiresome.

The MLS service we chose is MLS4owners.com. This is the same company my daughter used and they offer a good selection of services and have been very responsive to my emails. Hopefully the next update will have all of the details of accepting an offer and selling a house.

Let The Blogging Begin

This is something that I have wanted to do for a long time but I always felt too busy. I recently quit my job of 16 years and I am starting a new adventure and I plan to make blogging one of the many new adventures that I am embarking on. 

I am planning on blogging about several projects.

First, the new job. I am hoping to get back into the preschool classroom and I am hoping to promote an outdoor nature play program. There are a few options that I am pursuing, but I would like to have the summer free before I go back to work.

Second, we are selling our first house, that we bought in 1986. It is empty and waiting for a new family. My husband wants us to "Sell by Owner", so far the house is listed on Zillow and we have held one open house that was attended by six people, in three groups. I am working on getting it listed through a MLS group that helps the for sale by owner, owner. More on this later. 

Third, I am working on a kitchen remodel in the new condo. I have already selected a designer and have put down a deposit with a local kitchen remodel company. I am still waiting to be added to the schedule - there is a lot more to the story.

Fourth, can you really lose weight by walking? One of my ongoing goals is to remain healthy and stay active (one of the reasons I would like to teach preschool again). I have high cholesterol - around 280, usually my good cholesterol (HDL) is above 60 and the ratios are fair, but I refuse to use medication. Both my parents have Type II Diabetes and my main goal is to prevent this for as long as possible, I hope drinking wine is the secret to success.

I also enjoy cooking and reading and like almost every blogger out there, I am interested in photography and art. There will probably be a lot of posts about family, community, education, and faith.