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How to Annotate Real Estate for Sale by Owner

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In this video, Ted Thomas discusses the process of selling property as a "for sale by owner" (FSBO) to avoid broker commissions. He highlights that while many people aim to save 5-6% in fees, selling a property independently is often more challenging than it seems. Ted, who has 30 years of experience in a niche area of real estate, specifically focuses on tax defaulted properties. He explains that tax defaulted properties can include various types of real estate, such as homes or vacant land. The aim is to provide insight into the FSBO concept and the complexities involved in selling properties without a broker.

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Who holds earnest money in FSBO?

When you are involved in a For Sale By Owner (FSBO) real estate transaction, you should never give the money directly to the seller. In most cases, the listing agent will hold the earnest money in their escrow account until closing.

What is an example of real property description?

The property description used in deeds and other land documents will refer to the name of the subdivision and the lot number. For example: Lot 42, Block 3, of North Lakes Subdivision #1, ing to map or plat thereof as recorded in Plat Book 62, Page 9, of the Public Records of Orange County, Florida.

How do you write a property description to sell?

Were here with eight tips for you to write a real estate listing description that sells. Describe the property accurately. Choose adjectives wisely. Avoid red flag words. Include words that add value. Highlight unique features. Take notice of punctuation. Leave out super basic info. Use great photos.

What are the pros and cons of buying FSBO?

PROS: Without an agent, its likely you can sit down with the seller and show them your research to aid meeting at a price that works for both. CONS: They may be inexperienced sellers themselves and that often means they will hold out hoping for higher offers and initially turn yours down.

How do I write a description on Zillow?

Include an opening statement that describes what the buyer is looking for. Incorporate descriptive words that appeal to buyers. Highlight unique home features and neighborhood amenities. Be honest in your portrayal of the home, but dont sell it short.

How do you write an offer letter for sale by owner?

Address the seller and introduce yourself. If you know the sellers name, use that, but you likely wont know the name of the owner of the home. Detail what makes the home stand out to you. Find something in common. Present your offer. Note any contingencies you have. Close with a friendly thank you.

What is a good property headline?

Keep it short, make it benefit-driven, and make sure the tone matches the type of property youre selling. Once you understand those three elements, you can start writing headlines that will grab attention and make people want to learn more about your listing.

What is a good property description?

Property descriptions start with an opening statement followed by a paragraph or two about the home thats up for sale. All copy should be terse, highlighting the homes features and their benefits. For example, a pool is a feature. Entertaining friends, exercising or cooling off on a hot summer day are benefits.

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Annotate Real Estate for Sale by Owner