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AR Estate By Owner Frequently Asked Questions (FAQ) |
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Buyer's FAQ · Seller's FAQ · ArEstate By Owner Homeseller's FAQ
Buyer's FAQHomeownership remains one of the highest goals for many people because of its many benefits. Along with owning your own home comes a sense of security and belonging that cannot be found anywhere else. For many, homeownership represents personal and financial success. There is much personal satisfaction in living in a home that you own. A home is still a valued investment which can have many financial advantages and tax benefits. The amount of interest you pay on a home loan and the real estate property taxes you pay on your home are among the few major federal tax deductions. Owning a home is the primary way most people build wealth.Weather you are buying your first home, upgrading to a newer home, buying a vacation home, or buying an investment property, the first step will always be to get pre-qualified. Q. Are the listings on your site also on the MLS? A. No. Our property sellers agree to keep their properties off the MLS while listed here. This guarantees that you won't pay an inflated price to compensate for agent commissions. Q. Do you provide Arkansas real estate forms? A. Yes. You can access them by clicking Arkansas Real Estate forms. Q. What is the first step in buying a house? A. You need to get pre-qualified prior to looking at homes. This way, you will know how much home you can afford. Q. Once I am pre-qualified, how do I get in to see the home? A. Simply call the seller and schedule a time when you can come view the home. Q. Since I am not working with a realtor, is buying a home hard? A. Absolutely not. It is actually much easier. You are cutting out the middle man so you can negotiate directly with the seller on the price, seller paid closing cost, items included, etc. You won’t be wasting your valuable time on waiting for offers and counter offers to be accepted or declined. Q. How can I protect myself against the home being in poor condition? A. You can find links for home inspectors that will inspect the home from just a pest and dry rot inspection to a full home inspection. Any inspections that need to be made will normally need to be ordered and paid for by the buyer. Q. What if the inspection report comes back with repairs that need to be made? A. You can then negotiate with the seller on what the seller will fix prior to closing or possibly take a lesser price for the home so you can make the repairs yourself. The results of the inspection may also help you determine if this is the right house for you. A home inspection can be worth thousands of times more then the few hundred dollars you spent on the actual inspection. If you plan on having a home inspection done, remember to include the results of the inspection as a contingency of the final sale. Q. Who orders the appraisal? A. Your mortgage lender will be the person that orders the appraisal. Q. What if I have a realtor that I am already working with? Can I still work with them? A. Since ArEstateByOwner.com is strictly a “For Sale By Owner” website, we ask that if you want to work with a realtor, then you need to raise the sales price of the home enough for the realtor to get paid. The sellers of the homes on ArEstateByOwner.com are selling their home themselves for a reason. They don’t want to pay high commission fees so if you elect to still work with a realtor, then raise the sales price, or pay out of your own pocket the 3% commission or whatever is negotiated between the buyer and realtor in order for them to get paid. The buyer does have the option to ask the seller if they are interested in paying a realtor commission fee out of their net proceeds, however it is not to be expected and this would defeats the whole purpose of selling by owner. Seller's FAQThese FAQ's answers many questions commonly asked by property sellers.Q. Of course the question that everyone wants to know the answer to! Why Blue and Gold? A. There is reason to our madness! As much as we love the Red, nearly everything in Northwest Arkansas (all of Arkansas for that matter) is Red and White or Red and Black. We did not want our signs to get lost in crowd. We want our signs to be unique, eye-catching and stand out so that more potential buyers are attracted to the signs and the seller’s property. ;-) Q. What kind of service is ArEstateByOwner.com? A. ArEstateByOwner.com is a real estate internet marketing service that also incorporates the traditional real estate practice of physical yard signs. We are dedicated to bringing buyers and sellers of real estate properties together while avoiding high real estate broker/realtor™ commissions. Q. What do I get when I subscribe to your service? A. You will receive an online listing and web presence for your home with as much space as you need to describe it. A professional yard sign, access to change your listing 24/7 and the ability to upload as many as 7 photos of your property. See the what's included page for more information. Q. How much does it cost? A. The standard listing price is $175. If you advertise your property in a newspaper and mention ArEstateByOwner.com, you can save $30. Investors: Quantity discounts are available! Please call 479-721-3485 or write info@arestatebyowner.com for more information. Q. What pictures should I use for my seven alloted pictures? A. From our experience seven pictures are plenty for displaying any house. We recommend; 1. Exterior Front, 2. Exterior Back, 3. Back Yard if possible. 4. Dinning Room, 5. Living Room, 6. Master Bedroom, 7. Kitchen. Of course some houses may have several features/rooms/landscaping that are unique about the house that can be very good selling points and may require addition pictures. Addition pictures can be added for only $5.00 each. Also note that Virtual Reality Tours (VR Tours) will be available soon and this service gives any listing a very unique touch. Q. How long does it take for my listing to be active? A. That depends on the method of payment. If using a credit card, your listing will be immediately accessible. Check or money order payments can take up to a week. Q. How long will my listing remain active? A. Your listing will remain active for a term of 180 days (6 months), until your property is sold, taken off the market or listed with a realtor™. A renewal fee of $25.00 after the initial term will keep your site active, until your property is sold, taken off the market or listed with a realtor™. Usage of ArEstate By Owner signs are available to the home seller for as long as needed. Q. Can I simultaneously list my property with a real estate agent? A. No, if you decide to list with a real estate agent please notify us immediately. Send an email to cancel@arestatebyowner.com and we will come pick up your signs. You may advertise in any other medium you wish while your property is listed with us. Q. Can I make changes to my listing after it has posted? A. Certainly! You can make any changes you like by logging in to your account at any time. You can change descriptions, change the photos you have uploaded or announce upcoming open houses. You are in control of your listing, all changes are real time and will appear immediately. Q. Who owns the signs? A. The signs are the property of ArEstate By Owner. We will handle pickup, installment and delivery, but you are responsible for any damage or theft of the yard sign (see our policies). Q. What is the difference between using your service (selling by owner) and using realtor services? A. When selling by owner you are marketing your property, taking all phone calls, showing the property, running the open houses, negotiating directly with the buyer and handling the paperwork independently (some sellers hire an attorney to do this part when selling 'by owner'). You can tailor your plan of action to your own needs. One thing to remember as you plan to sell by owner is that you are also paying for all the marketing/advertising up front. In contrast, when you list with a realtor, not always, but typically, they generally market the property for you, or at least put it on the MLS system. You are relying on them to advertise the property in the papers, take phone calls, show the property, run open houses and many realtors are involved in the negotiation process and paperwork process. ArEstate By Owner suggests thinking these things through. Visit our Resources and Informations pages for more information. Foward any questions to us. We welcome all questions. Q. How do potential buyers know to use your site? A. ArEstate By Owner offers the marketing tools you will need to sell your home. We attract thousands of visitors looking to buy homes in Northwest Arkansas. Some of our visitors come to us through our newspaper ads, some via our direct mail campaigns, some come from search engines, some are referred here by word of mouth, and others just see our signs. The bright and attractive Blue and Gold signs are becoming a common and familiar sight for potential buyers. ArEstate By Owner Homeseller's FAQThese FAQ's are for those who are currently marketing their properties through ArEstate By Owner.Q. I was editing my listing, left to find some information, came back and when I tried to save I was redirected to the login page. Why? A. For security purposes, after 60 minutes of inactivity your account is automatically logged off. This is done so for your protection. All you need to do is re-log back on and start editing again. Q. Is my property priced right? A. We are not trained to answer that question. It is important that you consider this carefully. An appraisal is when a property owner hires a company to offer them information on what their property is worth (A bank will hire an appraisel during mortgage or refinance procedures). Some of our customers report to us that they use web sites and similar houses that are for sale to compare prices. Q. In the Control Panel there is a group of checkboxes labeled "List Line Notes". What are they? A. These are short messages that appear on the search by price, neighborhood and open house pages. They also appear on your property's detail page. Please note that you are allowed only two notes at any given time. Q. Can I view my property's detail page before making it visible to the public? A. Yes. After you've filled out your property listing information, click the "preview" link in the Manage Listing menu. Use your browser's back button to return. Q. Is there an easy way to direct people to my listing? A. Yes. We have provided a URL (Universal Resource Locator, AKA web address) shortcut designed for use in newspaper ads and other limited spaces. Your URL shortcut is http://www.arestatebyowner.com/?x=. You may drop the "www." for brevity: http://arestatebyowner.com/?x=. Q. How do people generally handle the legal aspect of selling a house when they don't have a realtor doing the paperwork, it all seems so confusing and risky? A. From our homepage click on the "Arkansas Real Estate Forms" tab, you can download general Arkansas Real estate forms for your convenience. You can also view Steps for Buying and Selling a home on by clicking on the "FSBO Information" tab, which is also on the homepage. Buying and selling a home is a serious and large financial endeavor. Some customers hire a real estate attorney to assist them with the legal aspects of buying and selling homes and writing offers for the buyers & sellers for a small service fee. Q. My house has an accepted offer, can I post SOLD/Accepted on my sign? A. Please do not put any kind of tape on the signs. Our signs are very costly and tape ruins them. Please call/email us and we will remove the signs ourselves so damage to the sign does not occur. When your property has an accepted offer, simply call us/email us and we will arrange to pick up the sign at a time which fits your needs and/or closing date. We ask to have the sign at least a week before closing, which eliminates the potential of new owner damaging it or disposing of it. Don't worry, if we pick up the sign a bit before closing, yet closing falls through, we will replace it for free. If the situation arises where we are not able to remove the yard sign fast enough and you continue to receive calls and you no longer want callers, please carefully remove the post from the ground and place the sign on the side of your house. Please contact us and inform us that this has been done, so that we will know where to look for the signs. Q. My house has sold, how do I remove it from the site? A. Simply login and change your properties' status to sold, alternatively you can also email cancel@arestatebyowner.com and we will remove the listing for you and come to pickup your signs. Please make sure that all signs are available in your yard for pickup. Q. My question isn't addressed here. How can I get an answer? A. Email info@arestatebyowner.com for answers to questions not yet addressed here. We welcome all questions. |
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Arkansas's "For Sale By Owner" Solution |
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