How To Sell A House By Owner In Kentucky

Selling by owner is an excellent option for people looking to save money upon the sale of their Kentucky homes. Although, besides the savings, you’ll be able to share first-hand knowledge about your home’s best features and what it’s like to live there with prospective buyers. That’s just an advantage that real estate agents won’t have. 

The other perk to selling for sale by owner, aka FSBO, is that you’re in control of the entire process and how much effort is put into selling your home. When working with an agent, there isn’t any certainty they can get the job done or to the standards you’re looking for. 

However, in all honesty, selling a house by yourself isn’t easy. Unless you have a real estate background, there may be a bit of a learning curve. Because it’s not every day, you go out and sell a house.

To help you navigate selling by owner, we’ve compiled some great information and answers to common questions to help you make your home sale a success. 

Guide To Selling A House By Owner In Kentucky

House For Sale By Owner Sign

What Kentucky For Sale By Owner Sellers Need to Know

You’ll need to know a few things about selling a house by owner in Kentucky before getting started. The first being what your responsibilities will be. Having an idea of what those include will be helpful, so you’re not caught off guard. Below is what your role as a FSBO seller will consist of:

  • Preparing the house by making necessary repairs, cleaning, decluttering, and staging,
  • Correctly and competitively pricing your property.
  • Marketing your residence by writing a captivating listing description, taking high-quality photos, posting the listing on different sites and social media, printing ads, and sharing by word of mouth.
  • Vetting prospective buyers to ensure that they’re qualified from a financial standpoint. Accepting an offer from an unqualified buyer can lead to the sale falling through. Kentucky, in particular, is known to have 14% of mortgage applicants rejected. 
  • Negotiate the final price, contingencies, repair concessions, and other aspects of the purchase agreement. Not good at negotiating? Check out these helpful tips.
  • Properly file all necessary paperwork for a real estate transaction in Kentucky. 

Needless to say, this process is quite involved, but there are some benefits of selling by owner that make it worth all the hard work.

The Benefits of FSBO in Kentucky

For most people, the biggest benefit to selling by owner is the savings. Realtors charge commissions when they are involved with the selling process. The average commission rate is 5% to 6% in Kentucky, usually split between the buyer’s and seller’s agents. That may not sound like much, but let’s look at that using the average sale price in Louisville, which is around $250,000. That would equate to $12,500-$15,000 (5%-6%), which is a large chunk of change. 

However, before you get too excited about all these savings, not having a listing agent and selling by owner could save you 2.8% based on the Kentucky average, not the full amount. The buyer’s agent will still need to be paid. But if you can find a buyer without an agent, you will be able to save an additional 2.7%, which is the average buyer’s agent commission in Kentucky.

Other key benefits would include direct control over how your house is sold, pricing strategy, showing schedule, and the negotiating process. But keep in mind that selling by owner does have its risks. Research has shown that FSBO houses typically sell for about 6% less than ones listed with a realtor. Furthermore, homes listed by owner often take longer to sell and are more likely for a contract to fall through after accepting an offer. This is why learning about the process would be extremely helpful. Continue reading to get your FSBO questions answered, so you’re better prepared for what lies ahead. 

FSBO Questions Answered

Before you dive into selling your house by owner, you need to get some questions answered. You may be surprised to find out that Kentucky requires things to be done a certain way, so we’ll cover some of the most popular questions when it comes to selling FSBO. 

Do You Need a Real Estate Attorney?

Yes, you do! Kentucky is actually one of several states that require sellers to hire a real estate attorney. They will advise you with the paperwork and legal aspects of the transaction, which is reassuring and helpful to avoid a scam. However, they will not help you find a buyer or negotiate a great deal; that will be up to you.

Are FSBO Yard Signs Allowed?

Yes, as long as the home is not on the MLS. If the home is listed on the MLS, you can’t put a FSBO sign in the yard. Make sure if you do end up buying a sign to get one that looks nice and is sturdy to handle the weather. 

How to Price Your Home to Sell in Kentucky?

Besides home repairs, figuring out a pricing strategy will be one of the most important and challenging things you’ll do when selling your home. Listing your house too low may result in money left on the table. Pricing too high could cause the listing to go stale, which would force a price drop and loss of valuable attention new listings get. 

To get a better idea of what your home is worth, look at what other houses are selling for in your area. 

You can also find out what your house is worth by hiring a home appraiser to evaluate the property. They will give you an unbiased opinion and compare your home to others sold in the area to provide you with an accurate listing price.  

What Are My Disclosure Obligations?

In Kentucky, there are several disclosure obligations:

These disclosures are usually requested during the escrow process.

How to Sell Your Home By Yourself in Kentucky

Although you’re selling your house by owner, you do have several ways you can go about it. Traditionally, you would follow the responsibilities mentioned above and wait for an offer to come in. But there are other ways you can technically sell by owner that you may not have thought about. Let’s take a look at all your FSBO options.

Selling Your House Online in Kentucky

There are two ways you can sell your house online in Kentucky. One is by posting your listing on FSBO sights and social media. A lot of people have been able to find buyers that way. 

Another way is to sell your house online to an iBuyer. iBuyer’s are large home buying companies that work in several markets buying houses from homeowners. Usually, you don’t have to list the place to sell to an iBuyer. The only downside about iBuyer’s is their service charges and take-it-or-leave-it approach. They look at buying your home as a business transaction, which can come across as a little cold for some people. 

Selling Your House As-Is in Kentucky

Another selling option you have available is selling as-is. This is extremely helpful if your home needs major repairs has unfinished construction, or significant damage from a fire, flooding, storms, or termites. Repairs and renovations can be very expensive and time-consuming to complete. If you’re in a situation where you need to quickly sell your house, you should look into selling as-is. The only downside, most buyers are looking for move-in ready homes, so you may have a hard time finding a buyer to purchase your place as-is. 

man selling his house fast for cash in Kentucky

Selling Your House Fast and For Cash in Kentucky

The last way you can sell your Kentucky home by owner is by selling it to a local cash home buyer. You wouldn’t have to list the property, make any repairs, deal with buyers and their agents, host open houses, or worry about the contract falling through. Cash home buyers purchase houses in as-is condition and don’t charge realtor commissions or service fees; they will even help pay closing costs. But you’re probably wondering “how do I find the best home buying company in Kentucky?” 

Easy! Time Worthy Property Solutions is one of the best home buying companies in Kentucky and has a 5-star Google rating. They can make you a cash offer for your home within 24-hours of contacting them and close in as little as 7 days or longer if you need. They are even willing to work with your schedule and the time frame you’d like to close and move out. 

Selling to Time Worthy Property Solutions is an excellent option if you want to avoid the hassle and uncertainty of selling a house by owner in Kentucky. 

Paperwork Needed to Sell Your House By Yourself in Kentucky

However, you end up selling your house by owner; remember there is paperwork involved. Kentucky requires these items for a real estate sale:

  • Two Forms of ID
  • Copy of Purchase Agreement and Any Addendums
  • Closing Statement
  • Signed Deed 
  • Bill of Sale
  • Affidavit of Title
  • All the Kentucky Disclosure Forms
    • Seller Disclosure of Property Condition
    • Lead-Based Paint Disclosure
    • Flood Zone Statement

Other documents you may need:

  • Loan Payoff Information
  • HOA Forms and Guidelines
  • Survey Results or Survey Affidavits
  • Home Inspection
  • Proof of Repairs or Renovations
  • Home Warranty Information
  • Copies of Relevant Wills, Trust, or Power of Attorney Letter. If you’re selling an inherited property.
  • Relevant Affidavits like Name Affidavits or Non-Foreign Affidavit
  • Closing Disclosure
  • Correction Statement and Agreement

Many of these closing documents are legally binding agreements. Any errors can cause issues to the sale and cost you thousands of dollars in fees or unplanned expenses to re-list your house. 

To avoid expensive mistakes, make sure to hire a real estate attorney. Although a lawyer can cost $500- $5,000, they have experience handling closings and will be there to answer any questions. 

Final Takeaways

Selling FSBO is not for the faint of heart; however, it can be done! If you can put time and effort into selling your Kentucky home, you should be able to make it a success. While you’re doing your research, make sure you find out when the best time of year is to sell in Kentucky. Many homeowners question why their houses won’t sell, and usually, the time of year is a significant factor. 

If you’re at all unsure if selling your house by owner is for you, you can always sell to Time Worthy Property Solutions instead. Their home buying process is very simple, and homeowners love being able to sell their homes quickly and as-is

To find out more about Time Worthy Property Solutions, their company, and how they can help, visit their website or give them a call today. They’re happy to answer any questions you may have and explain why selling to them vs. by owner would be a better option for you. 


Kevin is a real estate investor dedicated to helping homeowners sell their properties quickly and without the stress and hassle of a traditional listing.

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