2006-08-25 07:42:59 · 20 answers · asked by JustWondering 1 in Home & Garden ➔ Other - Home & Garden
if i put a for sale by owner sign outside, what do i do after that? who handles the paperwork? don't I have to pay for all that?
2006-08-25 07:48:21 · update #1
Be prepared to be pestered to death by real estate agents wanting to list your property, if you dare to put a "For Sale By Owner" sign outside your home!!!
2006-09-01 16:24:51 · answer #1 · answered by gedanini3@yahoo.com 2 · 0⤊ 0⤋
Don't let anyone scare you, you can do it.....I just sold my home without an agent.....
I just placed a FSBO sign outside....The calls came in and we set up an open house...We got an offer for the full asking price, on the first open house....Keep in mind we did price it lower than market, because we were saving on the Realtor commissions...
The lady who made the offer, showed us a letter of approval from her bank, stating she had been pre approved for a mortgage loan...This helped a lot! Don't waste your time with people that can't show you this, it will slow down the process if they still have yet to be approved for the loan....
Next, we went to our attorney, he wrote up the contract....She looked it over with her attorney and we made some minor adjustment to the contract....She agreed to pay her closing and we agreed to pay ours....After 30 days we were able to close and everyone was happy....
Long story short, please hire a real estate attorney to advise you and help you through this process, his fee was $350 for preparing the contract, which is much cheaper than hiring a real estate agent....Just make sure to keep the lines of communication open with the buyers, and please be patient, it does take time....
Good luck and if you have any questions feel free to email me at alatorre03@yahoo.com
2006-08-25 09:16:30 · answer #2 · answered by Anonymous · 3⤊ 0⤋
I'm a Real Estate agent and have and still am Active since 1979. I would say if you have not bought and sold much you will be money ahead by listing and selling thru a Good agent. On average now its said 18% better off even after paying Commission.
2006-08-25 08:52:31 · answer #3 · answered by Scott 6 · 0⤊ 1⤋
1) Don't call an agent in
2) Tell any interested buyer to state their offer in writing along with a refundable deposit. Ask them for their Attorney's name and telephone #.
3)Submit both their letter of offer and deposit check to your attorney.
4) Their attorney will order an Engineers and termite inspection of your home.
5) If all goes well - both the buyers and you have a 3 day attorney review period, prior to making any final decisions. During the review period - either party can decide not to go forward.
6) Contracts are then drawn up by both attorneys.
There is no need for a realtor other than to qualify buyers who look at your home.
2006-09-01 17:44:25 · answer #4 · answered by Kasha 3 · 1⤊ 0⤋
Unless you have nothing else to do and have an Esq. after your name, you are asking for alot of headaches. There is a reason that Real Estate Agents get commissions. They know what they are doing.
2006-09-01 13:51:18 · answer #5 · answered by HOLLY I 1 · 1⤊ 0⤋
In my state, I did sell my own home, the title company and the
purchaser do all the paper work, and THEY pay for it.
That is a very good selling point. Also, the home inspector was
hired by the purchaser.
and Yes, I did sell less costly, but I did not have to pay the
commission fee.
good luck
2006-09-02 04:05:59 · answer #6 · answered by Anonymous · 1⤊ 0⤋
For sell by owner. Make sure you have contracts and go from there. Post the house on MLS and advertise in "For Sale By Owner" magazine. Also put your house on www.craigslist.com in your area.
Good Luck.
2006-08-25 07:54:56 · answer #7 · answered by voandginger 4 · 0⤊ 0⤋
Good question. I would say it would depend on what state you live in. Some states require documentation in much detail not to mention disclosures about your property. My advise if you are not wanting to pay the typical reality 6% interest (CA) for listing your property you may want to brush-up on what it takes at your local library or advise from a local title company.
2006-09-01 09:05:21 · answer #8 · answered by Fresh choice 4 · 0⤊ 0⤋
Market it yourself....or make friends with a real estate person who does it for you for free..ha!
..Dont pay your mortgage and your mortgage company will buy it in 2-3 months.....
...seriously, try
www.For Sale By Owner.com
2006-08-31 07:50:27 · answer #9 · answered by Rada S 5 · 1⤊ 0⤋
We sold our house on our own. When you get an interested buyer and have agreed on a price, both of you go to an escrow company and they will handle the whole thing and the cost will be far less than using an attorney.
2006-08-30 09:32:08 · answer #10 · answered by Elleniac 1 · 2⤊ 0⤋