For Sale By Owner Tips & Guidelines 

FSBO Tip:  How Much Should You Ask for Your Home? 

First, you will need to conduct your own market analysis and develop a reasonable asking price for your house. You can get a great deal of information off of the Internet.  For example, you could check your county assessor's office for the value of your home and surrounding homes.  The assessor's value will be lower than the actual market value, so you will need to determine what a fair asking price will be.  Sources of information include the local newspaper or local realty guides.  Of course, you can always get an appraisal which will give you sound information.

FSBO Tip:  Notices and Legal Considerations for "For Sale by Owner" Sellers

In many states, the seller is required by law to give the potential buyers a property disclosure statement.  These disclosure statements generally pertain to the condition of the property or location. Depending on your state's laws, disclosures may be as simple as how old the house is and whether there are problems existing within the house that the potential buyer should know about. Whether the property is the subject of a legal dispute, is located in a flood zone, located on an earthquake fault, is within a Superfund area or near an airport are other matters that may need to be disclosed.  There may be other issues, depending on your local laws.  For example, some states require that you disclose whether someone died in the home, particularly from murder or suicide.

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Houses built before 1978 may have lead-based paint. Federal law requires the sellers of FSBO houses to disclose this information and provide details to the potential owners about past lead tests, or offer the opportunity for the buyers to do their own testing. Many buyers and sellers choose not to perform the lead tests, but the seller should at least provide the buyers with a lead paint pamphlet that is available for free of charge from the Environmental Protection Agency.

You might also need to disclose whether there is copper plumbing and you might need to provide a termite inspection report.

FSBO Tip:  If Selling Your Own Home, Raise Its Curb Appeal

Obviously, if you are showing your home to potential buyers, you want the interior as clean and fresh as possible.  But you need to look at the outside, too.

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The property’s exterior, or "curb appeal" can greatly affect potential buyers' decisions to take a look at the inside of y our house. If buyers see a cluttered, unkempt yard, they are most likely to assume that the inside of the house has nothing better to offer. If you want to sell your home, it behooves you to take a look around and clean up your house’s general appearance.

Curb appeal applies to both the front yard and back yard. Buyers will eventually want to view the back yard as they are shown the rest of your house. Here are some tips on improving your home's curb appeal:

1. Mow the lawn and pull all the weeds.
2. Rake leaves and dispose of them immediately.
3. Pick up any debris and throw it out.
4. Trim bushes, shrubs or overgrown trees. Tree branches that are near your rough should be trimmed, as they can cause damage.
5. Store your lawn mower and maintenance tools  so your lawn does not look cluttered.  
6. You can brighten your house's appearance by cleaning all windows, siding and decks.
7. Clean the gutters and make sure that they are affixed properly.
8. If you have a dog or other pets, make sure you pick up their waste regularly.
9. If you have children, make sure that their toys are not cluttered all over the yard - store the toys out of sight.  Make sure you wash away any chalk marks or other "kid art" that's on the sidewalk or drive.

FSBO Tip:  Spruce up the Interior

Now that you have buyers wanting to tour the house because you have so much curb appeal, you need to focus on the interior or y our home.  Making the inside of your home appealing to buyers can be done by simply maintaining a clean and clutter free appearance, killing any odors and possibly making a few minor repairs. For example, you may have been meaning to fix the doorbell which hasn't been working for a few months.  If you are selling your own home, it's time to fix it.  You also might want to paint the interior and have the floors professionally cleaned.

FSBO Tip:  Showing Your Home to Prospective Buyers

Although showing your home isn’t very difficult, it can be time consuming because as the seller, you will have to flexible to meet people's schedules. You should plan on same day requests to show your home and last minute requests, when the real estate agent or buyer is calling you from your front porch. Granting these requests can make a huge difference between the buying and selling of your home.

Answer all questions as politely, truthfully and accurately as you can. Be impersonal but polite when showing your house.  Your potential buyer is interested in the house, not necessarily interested in you, your family and your hobbies.

"For Sale By Owner Tips & Guidelines" contributed by Wendy Robinson