5-day Home Sale

This week we will be selling our home using the 5-day sale method. I ran across the book that describes it on Amazon.com just completely out of the blue. (Though I truly believe that everything happens for a reason.)

We decided to use this method because we know exactly when the house will be sold, and the price from these sales is usually just as good as you get with a Realtor.

The summary is this: you advertise thoroughly Wednesday through Sunday, have the house open for inspections on Saturday and Sunday, and people leave a bid if they are interested (even if it is only $0.01). Sunday night, you call through those who left a bid, from highest to lowest - you tell them the current bid and ask if they want to advance the bid or drop out. you keep going until there is only one bidder left. The bidding is non-binding on both parties, but the idea is that both parties will go through with it (and if the winning bidder drops out, the second bidder is probably only $500 lower).

You do have to put in a lot of work to get the house ready, assemble information on the house, take calls, and man the house for inspections (like an open house) on Saturday and Sunday. Definitely more work than would be involved with a Realtor, but for us it is worth it to get our house sold on our timetable.



I will let you know how it turns out, and I have attached a link to the book in case anyone is interested in this method. As he says in the book - might as well try this method first, then fall back on the Realtor sale if you are unhappy with the results.