My fiance' and I decided to sell my house "By owner", is this a very difficult thing to do? What are my obligations legally when doing it this way?
2006-06-05 23:58:22 · 6 answers · asked by redwing_nutso 2 in Business & Finance ➔ Renting & Real Estate
I will tell you up front that I am a Realtor® in the state of Arizona.
I will also preface this answer by saying that anything is easy if you know how.
You can sell your home by owner if you like. First your will have to make sure that it’s priced right to sell. Then you will need to get the word out that your home is on the market. Is a sign enough? Will you have to purchase ads on the Internet or in the newspaper? Who will show your home if you are not at home? How will you know if a prospective buyer is actually able to afford your home?
As far as your legal obligations, as I don’t know what the specific laws are in your area I will have to be a bit general. You will need to disclose quite a bit about your property: ownership, structural integrity, HVAC, plumbing, and electrical, homeowners association fees, utilities, and quite a bit more. If you attempt to hide any thing you may be opening yourself up to a lawsuit.
If you are dead set on selling your home on your own, you may want to contact a title company to help you with the reams of paper that need to be filled out.
Good luck on the sale of your home!
2006-06-06 07:03:34 · answer #1 · answered by Stephen Newman 2 · 0⤊ 0⤋
It's not as difficult as it use to be. There are many websites designed just for owners selling their homes without agents to help. There are also agencies and sites that can help you deal with the legal paperwork that comes with buying or selling a home. Your local library should have reference books to help you find samples of "fill it in" forms to transfer deed. You can go to the websites listed to get started.
Also, the previous poster advised you to pay and have your home inspected. That is usually an expense incurred by the buyer and not the seller. The only thing that you have to worry about is that the home passes the standards that you list in your posting. You can also file your own paperwork with the local court house's clerk of the court. Doing that will cut out the lawyer's fee and all you will pay is the clerk fee and filing fees.
Good Luck
2006-06-06 00:05:04 · answer #2 · answered by zaffaris 5 · 0⤊ 0⤋
&*&*&*
Yes, without the knowledge of sometimes complex real estate laws it may be hard to do it correctly.
If you do sell by owner hire a real estate attorney.
Here is a site where you can research "for sale by owner"
How to Sell Real Estate by Owner
How to Sell Real Estate by Owner Book. Would You Like to Learn How to Sell by Owner? Written by an expert who has worked with FSBOS since 1983.www.anotherbook.org/howtosell.html - 20k - Cached - More from this site - Save
2006-06-06 00:03:00 · answer #3 · answered by Anonymous · 0⤊ 0⤋
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2016-10-30 07:28:51 · answer #4 · answered by ? 4 · 0⤊ 0⤋
You are going to need a lawyer to file the paper work for you. don't do anything until you have a lawyer and make sure you spend the money and have the house inspected and make sure you take pictures at the final walk through just in case.
2006-06-06 00:02:00 · answer #5 · answered by Stacy R 6 · 0⤊ 0⤋
i buy houses all the time without any title co,attorney or agents involved BUT im in tx usa ,and here it's very simple ,i draw my own deed transfer and sale purchase agreement ,talk to the buyers bank after you find an interested buyer (,put all closing costs on buyer) ,the bank should tell you what they require with title co ,,,home inspections and such ..it's not real easy here but better than most states just make sure you go to there bank with them
2006-06-06 00:16:43 · answer #6 · answered by iplay4funbut 2 · 0⤊ 0⤋