Category Archives: For sale by owner tips

Are you searching for a new home in Minnesota? Looking at houses for sale by owners can be a good start. It will save you time and possibly money because for sale by owner (FSBO) allows you to buy the house directly from the owner instead of through a real estate broker or agent. It benefits the seller, too, as they don’t have to worry about the listing agent taking 5-6% off their final sale price at closing. This means they can keep more profits from the sale.

Here at Real Estate Corners, we offer solutions to help home sellers sell their property quickly with our FSBO package. Our licensed real estate agents will list their homes on the local Multiple Listing Service (MLS) to expand their reach. The MLS is a valuable marketing tool for Realtors because it allows us to promote or find properties for our clients.

However, only professionals like us can access and post on it, making our FSBO service necessary for sellers who want to use the MLS to market their homes. Once a house is listed on the MLS, the listing also appears on hundreds of other real estate websites, including Trulia.com, Realtor.com, CBBurnet.com, Redfin.com, and EdinaRealty. Imagine the amount of exposure sellers can get with that!

We can help you, too!

At Real Estate Corners, we go beyond supporting homeowners who want to sell their homes and get them listed on the MLS. We help buyers like you in finding houses for sale by owners. The best thing about our service is it’s free. Plus, you can earn up to $4,000. Here’s how our buyer’s services work:

• Option 1: Have you found a house you want to buy? We can represent you as the buyer. With this option, you will get a 1% cash rebate of the selling price up to $4,000 at closing.
• Option 2: Are you selling your house and looking for another one? We can help with that, too. Our licensed real estate agents will represent you as a buyer, and you will get a 0.5% cash rebate of the selling price (up to $4,000) when we close the sale.

There’s no catch

We understand your needs differ from other buyers when finding houses for sale by owners in Minnesota. We take different considerations to mind, including your budget, family size, community, location, and lifestyle. Our goal is to identify your needs to ensure you will find the perfect property that suits your requirements. At the same time, we guarantee a smooth buying process that lets you profit, too.

We can provide our buyer’s services at no cost because we profit from our listing service. So, don’t hesitate to ask us to help you find an FSBO home.

House-hunting made easy

At Real Estate Corners, we simplify the process of finding and selecting houses for sale by owners. Use our property search tool here to find some prospects from the sellers we’re helping. We work closely with home sellers who signed up with our FSBO package to connect them with qualified buyers like you and speed up the selling process.

Is it worth buying an FSBO home?

The housing market inventory grew by 35.2% in May 2024. It’s a significant increase from the numbers in May 2023. With more homes for sale, mortgage rates are expected to decline, making now a good time to hit the market.

The best way to become a new homeowner is by buying houses for sale by owners. In 2023, NAR found that 10% of homes sold were FSBO. By partnering with us, you can find the right FSBO house that fits your budget and requirements. Use comprehensive search and various filter options to find a suitable property. We can also represent you as the buyer when you make an offer.

How to find FSBO homes?

Many buyers search for houses for sale by owners through various channels, including online listing websites like Trulia, Realtor.com, and Zillow. You might even find them on local classified ads and social media platforms. Attending open houses and local property auctions in Minneapolis could also lead you to FSBO properties that meet your requirements.

Here are a few tips to find and buy an FSBO home:

• Narrow your search
  
  Various factors can make it challenging to buy a property listed as FSBO. Since you’re doing it yourself, be careful when choosing a home to invest in. To find the best investment, explore multiple areas in Minnesota instead of restricting your search to a single area. This will allow you to find houses for sale by owners that align with your desired amenities, budget, and needs.

• Visit the area
  
  This is a must before buying any property. Get to know the neighborhood and get a feel of the locality. An FSBO listing might have nice pictures, but sometimes, they can be deceiving. It never hurts to verify things for yourself and check the house in person.

• Get approved for financing.
  
  As an FSBO buyer, you could either pay in full in cash or consider financing, such as short-term, permanent, or seller financing. If you go for financing, you must prove to the seller that you’ve been approved and can secure the funds promptly.

• Make an acceptable offer and request a home inspection and appraisal.
  
  Before making an offer, analyze the properties that have been recently sold in the neighborhood within the past 3 to 6 months. This will also help the buyer determine if they are selling at a competitive price. Additionally, take the time to hire a licensed home appraiser and inspector. An inspector can help you avoid a potentially problematic property that’s expensive to repair. Meanwhile, an appraiser can determine the home’s true worth and help lenders decide on fair financing.

Save time with Real Estate Corners.

At Real Estate Corners, we save you from the hassle and effort of finding houses for sale by owners with our buyer’s service and property search tool. Are you interested? Call (612) 483-1230 to speak with one of our licensed real estate agents.

If you are about to sell your house in Minneapolis using a for sale by owner strategy, then you need to stay on top of the latest developments and changes in the real estate industry. One of the key points to familiarize yourself with is the lawsuit settlement by the National Association of Realtors (NAR), which resulted in a new set of rules that could impact future real estate transactions.

The settlement

On March 18, 2024, the NAR decided to settle a lawsuit by agreeing to pay $418 million in damages. As part of the settlement, two new rules were introduced that affect both buyers and sellers.

1. Real estate agents representing buyers are now required to present a formal agreement. This agreement is designed to clearly explain the buying process to the clients and disclose the fees that the agents will charge for their services.

This change is expected to have minimal impact on Minnesotans opting to sell their homes in Minneapolis through the for sale by owner route, primarily because FSBO transactions typically do not involve buyer’s agents who would be affected by this new requirement.

2. The NAR settlement also affects how commissions are displayed and negotiated. Traditionally, when a seller listed their home for sale, they would work with a real estate agent who would include a set commission for the buyer’s agent in the MLS listing. This commission was typically split between the seller’s agent and the buyer’s agent.

This practice had some drawbacks. Some argue it incentivized buyer’s agents to only show homes with higher commissions, potentially limiting buyer options. Others believe it encouraged sellers to set unrealistic asking prices to accommodate the commission.

The new agreement brings more flexibility. Realtors are no longer required to display the commission split on the MLS listing in MN. This opens the door for more direct negotiation between agents, sellers, and buyers. The seller might pay a lower commission upfront, or the commission might be shared differently between the buyer’s and seller’s agents.

No worries on our part

Here at Real Estate Corners, we still follow the NAR rules while ensuring our clients still have control over selling their homes in Minneapolis through for sale by owner. Our flat-fee MLS service and FSBO package are still affordable. If you choose our full representation service, you get the same advantages, too.

So, if you’re selling your home, don’t hesitate to call us at (612) 483-1230. We’ll provide all the support you need to succeed without shortchanging you.

Whether you’re hunting for your dream home or selling one, you’re likely to encounter the Multiple Listing Service in MN. Known as MLS, this database is a vital marketing tool for real estate agents and brokers to locate homes that match their clients’ needs. It lists all properties currently for sale in specific geographic regions of Minnesota and is maintained, created, and managed by participating real estate professionals.

Our experts here at Real Estate Corners can list your property on the MLS for a fixed price to enhance its visibility and increase the chances of a quicker sale. And if you’re buying a new home while you’re selling your current one, we can assist you with both transactions — we can help you sell your current home and find you a new home to buy. We offer rebates to buyers and sellers who use our services! If you choose Real Estate Corners to represent you as the buyer of your new home, you can receive a 1% rebate of the selling price at closing. And if Real Estate Corners helps you find a new home and represents you as the buyer, you’ll get a 0.5% cash rebate (up to $4,000) upon successful closing.

Do you really need the MLS?

The short answer is yes. Listing your house on the Multiple Listing Service in MN can help you sell your home quickly. Without this listing, many potential buyers might never see your property.

Don’t worry. Our FSBO package starts with a minimal flat fee and maintains your listing on the MLS for six months, with no hidden fees and the freedom to make unlimited changes or edits.

When you list your home on the MLS, it also appears on major real estate websites such as Zillow, Realtor.com, and Trulia. Our team at Real Estate Corners actively forwards email and phone leads to you and assists with home showings. We also feature your ad and listing on our website and offer a no-cost cancellation at any time!

List your property today

Call (612) 483-1230 to learn more about our Multiple Listing Service solutions in MN. We’ll help you get started here at Real Estate Corners, whether you’re buying or selling a house.

Navigating contracts and paperwork in a for sale by owner transaction in MN can be challenging. As an FSBO seller, managing listing documents, contracts, and insurance papers on your own can become an overwhelming task. This is precisely why we suggest partnering with a flat-fee FSBO company like ours for support.

At Real Estate Corners, we will put your property on the Multiple Listing Service with our flat-fee MLS Service. We are not traditional real estate agents who ask for a 6% commission from a successful sale. Instead, we charge a small fee for our service, which simplifies marketing your home to thousands of prospective buyers. Additionally, we offer professional advice when navigating FSBO contracts.

What is an FSBO contract?

An FSBO contract lays out all the critical terms and conditions, including how you’ll close the deal, the deadlines you need to meet, and any contingencies that allow for a smooth sale. Whether you’re selling or buying a home for sale by an owner in MN, the responsibility of drafting this document might fall on you. Our flat-fee FSBO MLS listing company is here to help you dot the i’s and cross the t’s. And if you need it, we can connect you with a top-notch real estate attorney.

Must-have items in an FSBO contract

Contingency clauses are necessary in an FSBO contract because they provide a safety net allowing parties to withdraw under specific conditions. These clauses typically cover financing, inspections, appraisals, and the sale of the current home. Essential components of the for sale by owner contract in MN should comprise:

• Confirmation of a clear title
• The full and legal names of all parties involved
• The agreed-upon purchase price
• A defined deadline for the transaction
• Detailed property descriptions
• An outline of closing costs
• Mandatory property disclosures
• A designated area for signatures

Let Real Estate Corners remove the complexity from drafting for sale by owner contracts in MN. Our expertise ensures a seamless process for both buyers and sellers. Contact us at (612) 483-1230 for professional advice and support.

Are you on the market to buy your dream home in Minnesota? Looking at the homes for sale by owner listings in MN is a good start. At Real Estate Corners, we have an up-to-date selection of properties that are also posted on the local Multiple Listing Service (MLS) to help sellers promote their houses to buyers like you. We also work with buyers to eliminate the stress of finding the perfect property and negotiating with sellers.

Although we can help you find a home, we also want you to consider these factors for a more rewarding and faster search:

Check the local laws

Are you coming from another state? Take the time to review real estate transaction laws in Minnesota, as they might be different from what you’re used to.

Consider getting an attorney

Homes for sale by owner transactions in MN involve significant legal paperwork. The good news is that a seasoned real estate attorney can take care of most of these for you. If you need one, feel free to ask us, and we will recommend a trustworthy lawyer to support you.

Arrange a professional home inspection

A thorough inspection can uncover any potential problems in the property. It’s important to carefully examine the inspection report and inform the FSBO seller of any required repairs or consider renegotiating the offer based on the findings.

Use our service

At Real Estate Corners, we specialize in assisting buyers interested in homes for sale by owners in Minnesota. We can act as your buyer’s agent and offer a cash rebate after a successful closing. Here’s a breakdown of how our rebate system works:

• Option 1: If you’ve already found the ideal home, let us represent you as the buyer. Upon the successful completion of the sale, we offer a 1% cash rebate of the sale price, with a maximum of $4,000.

• Option 2: If you’re selling your current home in Minnesota and also looking to purchase a new one, we can assist in both selling and buying. When we represent you as the buyer for your next home, you’re eligible for a 0.5% cash rebate (up to $4,000) after the sale closes successfully.

Choose the option that best suits your needs, and benefit from our expertise and financial incentives. Are you ready for a rewarding home-buying experience? Talk to us today by calling (612) 483-1230.

The journey to buy homes from sale by owner in MN can be complex, especially in a fluctuating housing market. Whether you’re a first-time buyer or looking to invest, navigating the Minnesota market requires knowledge and planning. Here’s a seven-step guide to streamline your process of buying an FSBO home in Minnesota.

Step 1: Check your financial health

Assess your financial readiness before diving into the search for homes for sale by owner in MN. Calculate how much you can afford, check your credit score, review your debt-to-income ratio, and ensure you have a steady employment history to present to lenders.

Step 2: Prepare for future costs

Even before you commit to a purchase, it’s wise to start saving for the down payment and closing costs. Homes for sale by owner in MN typically require a 20% down payment, and buyer closing costs in Minnesota range from 2% to 5% of the property’s total purchase price.

Step 3: Get mortgage pre-approval

Securing a mortgage pre-approval is essential. It not only determines your borrowing limit but also includes a letter indicating your seriousness as a buyer to the FSBO seller.

Step 4: Search for FSBO homes

While many people rely on real estate agents to access the MLS, reputable FSBO flat-fee MLS listing services provide similar access. Spend time visiting potential homes and attending open houses to find the right fit among the homes for sale by owner in MN.

Step 5: Make an offer

Once you’ve found your ideal home, make an offer that includes your proposed price, proof of funds, preapproval letter, purchase terms, and contingencies. Be prepared for the seller’s response—whether it’s a counteroffer, acceptance, or rejection.

Step 6: Get ready for appraisal and inspection

When your offer is accepted, you can arrange for a professional inspection to identify any issues with the property. An appraisal will assure your lender of the property’s value and help ensure adequate loan funding.

Step 7: Finalize the deal

The final step is closing the deal on your chosen home. This involves settling closing costs, completing paperwork, and receiving the keys.

Seeking assistance?

For guidance in purchasing homes for sale by owners in MN, consider consulting with experts at Real Estate Corners. Contact them at (612) 483-1230.

Deciding whether to use a realtor or sell your house on your own can be a challenging decision. The local real estate market is thriving, providing a unique chance for homeowners to benefit financially. Minneapolis homes for sale by owner are becoming increasingly popular and can offer significant financial returns. But you might be wondering: Can you really sell your home without the help of a realtor?

Why Minneapolis homes for sale by owner are on the rise

In this age of hyperinflation when every dollar counts, it’s not surprising that more and more homeowners are opting to sell their homes by themselves. By eliminating the realtor’s commission—which can range from 5-6% of the total sale price—homeowners can potentially save thousands of dollars.

In addition to maximizing profits, selling your home by owner also gives you full control over the entire process. From setting the initial price to negotiating with potential buyers, you have the freedom to make all the decisions without anyone else’s influence. How does this impact you as a property owner? It means more savings, more control, and ultimately, a smoother selling process.

Real Estate Corners: Empowering homeowners with a flat fee MLS listing service

At Real Estate Corners, we specialize in providing a comprehensive yet affordable flat fee MLS listing service. By choosing to list with us, homeowners in Minneapolis can save significantly on commissions while gaining the benefits of extensive exposure to a vast network of potential buyers. Our mission is to help you maximize returns on your investment while maintaining full control over your home selling process.

So, for homeowners looking to sell their Minneapolis homes for sale by owner, Real Estate Corners offers a one-stop solution for all your real estate needs. Explore our website today and contact us to learn more about how we can help you achieve your home-selling goals.

The process of selling a home can often be a complex and emotional experience. In fact, multiple surveys reveal that the selling process was so stressful for 36% of home sellers that it brought them to tears. As a homeowner looking to list your property in the homes for sale by owner MN category, you may be seeking a more straightforward and cost-effective solution.

Fortunately, it is here to simplify your home selling journey. By connecting you with flat fee brokers near you, we aim to alleviate the stress and streamline the entire process. In this blog, we will explore how working with flat fee brokers through Real Estate Corners can help you enjoy a hassle-free home-selling experience.

Avoid hefty commissions

Agents often receive around 6% commission on the sale price of your home in the conventional real estate model. While this percentage may appear small, it can quickly add up. Opting for a flat-fee broker eliminates this uncertainty from the home-selling equation. With a predetermined fee, you’ll know exactly what you’re paying, regardless of the negotiations with potential buyers. This approach ensures that you maximize your profits while maintaining control over your expenses.

More control, less stress

When listing your property in the homes for sale by owner MN category, maintaining control over the process can significantly reduce stress. Flat-fee brokers offer a transparent and simplified approach to selling your home, allowing you to be more involved in the decision-making process. This level of control not only empowers you as the homeowner but also alleviates the anxiety often associated with traditional real estate transactions. By working with a flat-fee broker, you can rest assured that your needs are prioritized, leading to a smoother and more enjoyable home-selling experience.

Don’t wait any longer to simplify your home selling experience. Explore the homes for sale by owner MN listings on Realestatecorners.com and connect with our flat-fee brokers today to maximize your profits and minimize stress.