READ BEFORE YOU GO FSBO……Many homeowners are convinced they can handle the responsibilities of selling their own home and save thousands in the process. Many more homeowners discover that it's not quite as easy as it sounds. So, before you place that For Sale By Owner sign in your front yard, ask yourself these five questions.

1. Do you really have the time to devote to an all out home selling effort? Buyers will want complete accessibility to your home which necessitates you being available all waking hours throughout the week. You'll need to provide a host of marketing materials, place ad work and provide potential buyers with information, including a disclosure of your property's condition.

2. How good are your negotiating skills? Buyers assume that a FSBO property is an invitation to low ball an offer. As the seller you have to take yourself away from the emotional side and act strictly as a business person. Low ball figures automatically say your home isn't worth much. Can you handle that?

3. Are you ready for the legal ramifications? Do you know your state laws regarding real estate? The legalese of contracts, contingencies and agreements can leave you scratching your head and possibly losing out on a sale.

4. How well versed are you in financing? Do you know the right questions to ask the buyer to make sure they are qualified to purchase your home? If not, your home could sit idly on the market during prime selling season waiting for a buyer who simply is taking up your time. And there are differences in loan types that can greatly impact the selling process.

5. What do you know about inspections, title searches and escrow? Are you aware of the laws surrounding these items? Choosing the professionals who will do the best job calls for research. You cannot simply go to the phone book and throw a dart.

There are a number of things in life you can and should do for yourself. But when it comes to a matter that could end up costing you a lifetime of heartache, it's best to get the assistance of a professional.

Copyright PropertySource Network 2006