How do you make an offer on a real estate property if the property is for sale by owner? Is a lawyer cheapest

Answer 1

Actually a lawyer is a good way to go, our's charged us $275 for all the paper work.......Don't get an agent involved, they will expect a commission, 3%....Another way, is to call a title company....They will also direct you and they don't charge anything.....Best of luck

Answer 2

No, the lawyer is not cheap at all. In fact, it is the most expensive.
When you present an offer, you often receive a counter offer. Very often, this could come back and forth many times. If you use a lawyer to do this, it could cost you a fortune.
If you have legal knowledge, or have a good understanding of contract law, you should do it yourself. Buy a "Sales and Purchase" agreement from a local stationary store and carefully write down your offer. Please be advised that an interim agreement is a blinding contract. Once your offer is accepted by the Vendor, it is blinding on both side. If it is counter offered by the Vendor, the deal is called off; unless you accepted the counter offer.
Another way to handle this is to get a realtor to do this for you. In Canada, most realtors pay their Company a deal fee - usually about $200. If you offer them a few hundred dollars, they might be happy to help you out.

Answer 3

First of all, there is a reason a person is selling a house FSBO. It means they don't want to deal with Realtors. However, you should ask the seller if he or she is willing to co-op with an agent.
In a changing market like we have today, some sellers may consider a broker co-op. Many Realtors try to stay away from FSBO deals, since they involve more liability.
As far as dealing with attorneys, it's not a bad idea. Yes, their fees are not low, but would you really let that hold you back from owning your dream home?
The last option you have is to work with a Realtor who would find you a nice home through local MLS. There is a good chance that you will find a better house than the one you are considering.
Hope this helps and good luck house hunting.

Answer 4

The best way to submit an offer to a FSBO is thru a real estate agent, and most of the time Realtors get compensated by the seller. An attorney may not be able to get paid by seller helping you with the transaction, if so, he will protect the seller's interest rather than yours.

Think like this: Will you go to an attorney to do your income tax, or seek the advice of a certified accountant to do so?

Answer 5

Your offer had not been accepted and contracts were not exchanged so you don't have a leg to stand on. A vendor has every right to withdraw a property from sale if a better offer or situation comes along. I am sure the original owners of the property were happy to have their house back. Just consider that before getting your knickers in a twist and threatening legal action. Just forget this one and move on.

Answer 6

How is she going to contact the realtor sweettoni if the property is a 4 sale by owner. Contact the homeowner directly and make them an offer.

Answer 7

The owner is probably selling "by owner" because they don't want to pay a realtor fee. If you bring one in, the seller will likely turn down your offer unless you plan to pay whatever fees the realtor charges. You can't "make" them do anything unless they accept your terms.

You can talk to the seller and see if you can agree on terms, but then would be wise to have someone who knows what they're doing put the offer in writing, with proper protections for you.

Answer 8

No... a real estate agent is probably cheapest, as you can make the seller actually pay your agent if you write the deal up that way.

Answer 9

Make an offer directly to the seller, have an attorney draw up a contract. DONE.

Answer 10

I would go with the Lawyer since there is no Realtor.