For Sale By Owner (FSBO) Checklist

1. Preparing to Sell

  • Understand the FSBO Process

    • Don’t go into this without first researching what it takes to successfully sell your home.

    • Understand Indiana’s legal requirements.

  • Get Your Home Ready

    • Conduct a pre-inspection to identify any issues.

    • Make necessary repairs and upgrades.

    • Stage your home to enhance its appeal.

  • Set a Realistic Timeline

    • Create a timeline for preparation, marketing, negotiation, and closing.

2. Pricing Your Home

  • Conduct Market Research

    • Analyze current market conditions.

    • Consider enlisting professional help to perform a Comparative Market Analysis (CMA)

  • Set the Price

    • Choose a competitive and realistic price based on your research.

3. Marketing Your Home

  • Create a Marketing Plan

    • Identify your target audience.

    • Select marketing channels (online, signage, social media).

    • Ask for help from family, friends, and neighbors

  • Prepare Marketing Materials

    • Write a compelling listing description.

    • Obtain high-quality photos of your home.

    • Create virtual tours if needed.

  • List Your Home

    • Post your listing on major real estate websites.

    • Share your listing on social media and local community boards.

  • Order a "For Sale" Sign

    • Place it in a visible location on your property.

4. Showing Your Home

  • Schedule Showings

    • Be sure to offer a mix of open houses and private showings.

    • Use an online scheduling tool if needed.

    • Consider getting a separate phone number to protect yourself.

  • Prepare for Showings

    • Clean your home thoroughly before each showing.

    • Make sure it is well-lit and welcoming.

  • Conduct Showings

    • Be professional and courteous.

    • Give prospective buyers space, no hovering.

    • Highlight key features and answer questions.

5. Negotiating Offers

  • Review Offers

    • Compare multiple offers based on price and terms.

    • Consider contingencies and closing dates.

  • Negotiate Terms

    • Make counteroffers if necessary.

    • Be prepared to compromise on certain terms.

6. Legal Requirements and Documentation

  • Complete Necessary Forms

    • Indiana Residential Real Estate Sales Disclosure Form

    • Purchase Agreement/Sales Contract

    • General Warranty Deed

    • Bill of Sale (if applicable)

    • HUD-1 Settlement Statement

    • Lead-Based Paint Disclosure Form (if applicable)

  • Engage a Title Company or Attorney

    • Conduct a title search and prepare the title report.

    • Ensure all legal documents are correctly completed.

7. Closing the Sale

  • Prepare for Closing

    • Review the closing statement and all documents.

    • Ensure all contingencies are met.

  • Final Walkthrough

    • Allow the buyer to inspect the property one last time.

  • Attend Closing

    • Sign all necessary documents.

    • Transfer ownership and hand over keys.

  • Move Out

    • Clean the property and remove all personal belongings.

    • Update your address with necessary institutions.

8. Post-Sale Activities

  • Cancel Utilities and Services

    • Notify utility companies of the sale and cancel services.

    • Cancel any home-related services (lawn care, security, etc.).

  • Keep Records

    • Maintain copies of all documents for tax and legal purposes.

  • Consult a Tax Professional

    • Understand the tax implications of your sale.