5 Things You Should Know About New York City FSBO Property Listings

FSBO property listings are one option for homeowners in New York City. “Let’s sell it ourselves and save all of those real estate agent commission fees for ourselves!” Sounds great, right? When it comes to FSBO listings for sale by owner, going it alone isn’t always the right move. The process of selling a home is much harder than it would appear. A 90 percent failure rate for FSBOs trying to sell their own home should give you pause, especially with such an important decision. 

When you’re ready to select the method you’ll use to sell your home, which is likely one of your most significant financial assets, it’s essential to have realistic expectations. We will explore five things you should know about New York City FSBO property listings.

Time and Toil

One thing you should know about New York City FSBO property listings take a lot of time and hard work. From scheduling appointments with professionals, such as inspectors and appraisers, through open houses and showing the property over and over, you may come to understand why real estate agents earn such high fees for their services.

Lower Offers

You should also know that New York City FSBO property listings tend to sell for less than if you had worked with an agent. Agents are on top of their game and understand how important it is to screen potential buyers and market the home properly. They also have excellent people skills. Because they aren’t emotionally involved with the house, negotiations tend to have a better outcome. While your actual advertising efforts are critical in the results, so too is how the home presents during the showing.

Repairs

Repairs are not something you can escape with New York City FSBO property listings. While you may not be aware of disclosure laws, learning this lesson the hard way could land you in legal hot water. Even if you don’t make the repairs, the buyers are likely to counteroffer with extravagant discounts from your asking price for doing the work themselves.

Legalities and Paperwork

Paperwork. Quite often, sellers decide to work with a professional because the thought of doing all of the paperwork is overwhelming. Homeowners with New York City FSBO property listings take on a huge responsibility in making sure every contract and form submitted is legit. Failure on this front could mean a deal falls through and will cost you even more.

Holding Costs

You should also know about holding costs and how they can eat away at the profits of New York City FSBO property listings. Sadly, not having realistic expectations about what it takes in today’s market to sell a home could leave the property lingering on the market. you’ll be left with the mortgage payment and all other expenses to keep the property in saleable condition. Even an agent cannot tell you an exact closing date when listing a property on the New York City market.

The most important thing you should know about New York City FSBO property listings is that there is another option. Selling directly to Triboro Property Solutions is 100 percent successful for sellers. When you work with Triboro Property Solutions to sell your home, you still get to save the commissions for yourself! Triboro Property Solutions pays cash so that the closing can be in a matter of days. 

We will go over all of the details of your property and any extenuating circumstances that may be pushing you to sell, helping you determine how much you would profit with a traditional home sale or a direct sale to Triboro Property Solutions. At Triboro Property Solutions, our goal is to help you make the most profit on your most important investment, your home. Feel free to ask Triboro Property Solutions any questions you may have with no obligations. Send us a message or call Triboro Property Solutions at (877) 411-4OWN (877-411-4696).

Jonathan Ettricks

Combining a sincere dedication to service with his deep love for New York City, Jonathan Ettricks consistently exceeds his clients' unique goals whether they are buying, selling or investing. He offers a consultative, hands-on approach and more than 10 years' experience, which means that each client feels understood, educated and empowered throughout their real estate journey. Regardless of budget or need, everyone receives Jonathan's signature level of service, professionalism and respect. Jonathan knows that trust is a foundational element of a successful transaction, and he earns his customer's faith with his unwavering honesty and integrity. Clients also benefit from his elite communication and organizational skills, and from his lifelong familiarity with the city's many neighborhoods and enclaves. Above all else, Jonathan aims to simplify the ever-changing and complex market with straightforward guidance and benevolent support. Jonathan's commitment to serving others was forged during his parochial school education and his subsequent 20 years in public service, including a long stint working for The New York City Council. Jonathan earned his bachelor's degree from Saint Francis College and his J.D. from Hofstra University.

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