Is anything in life really free? Well, if you're an economist the answer is no. Time and effort are costs that can't be escaped, even if you get something without having to pay any money for it. For the purposes of this article, we'll think about "free" in terms of money only, just to make things simpler and avoid semantic arguments. So is it possible to sell a home without paying a single penny to anyone? Yes. You can make your own yard sign, create flyers from your home computer and pass them out to potential buyers and post ads on free classified ad websites. You can also hold open houses and advertise them with home-made flyers posted around the neighborhood. If you have no time requirement for selling your home, the above might be all you need to do. After all, it only takes one qualified buyer to sell - so selling is mostly about finding that one buyer. Once you've found a buyer, you can arrange closing with a local title company and the buyer will get financing through the mortgage broker of their choice. There will be fees the seller must pay to the closing company and possibly an attorney, depending on the state where the property is located, so be prepared for that. You can call around and get quotes, though most companies are fairly competitive with their fee structure. If you are on a more limited time requirement, you can consider creating an advertising budget to help you find that one buyer in a shorter amount of time. Low-cost advertising methods you can use include newspaper classified ads, "for sale by owner" website advertising, a yard sign from your local hardware store and some even hire a real estate agent who offers flat-fee MLS listings. A flat-fee MLS listing will usually cost you about $500 plus 3% of the sales price. The bottom line is that there are many free or low-cost options available to you as a home seller, if you have the time and the desire to save money on the sale of your property. |
