To sell by owner or not???

[Vanessa Perez]

Hello all! My mother is looking to sell her property in the M-Street area (corner lot) in Dallas, Tx. It's most likely going to be a complete teardown in as is conditions. She is looking to get the most for her home for personal reasons. We thought she had sold her home when we signed a contract after negotiating at a fair price, only to find out half way in that the "investors" weren't serious and tried to lower the price at a ridiculous amount. Contract was terminated. She wants to try to sell by owner because of her situation (agent fees would not allow for what she needs) The location is great so I'm pretty confident there will be multiple offers. The market is really hot in Dallas right now so it would be the time to do it. What would be the best way to go about doing this ourselves? We don't want to have to be in the same situation with people who aren't serious. Who should we offer it to? Or is it too risky and list it for more? If we increase the price to make up for agent fees, we may not have as many potential buyers. 

[Joseph B. Davisson]

In the original post you mention what the propriety owner "needs" when discussing the sales price of the property. Keep in mind that the value of the property has nothing to do with what the owner needs and is based on the market. The market doesn't care about anyone's needs. If it is a true land play the MLS isn't going to do you much good, drive the area and look for builders signs in front of new construction in the neighborhood. Ask them what they would pay for your lot, or ask an agent to look on MLS for what they paid for the lot where they are building. Builders farm this area and know exactly what the dirt is worth. Have an expert review a contract before you sign. Better yet, have someone write the contract you provide it to potential buyers. The buyer is free to offer whatever they choose, but at least you set the starting point of the negotiation.