I am interested in purchasing a house that is being privately sold- I need step by step intructions on how to close the sale-any advice?
2006-12-05 08:36:35 · 6 answers · asked by SW FL beaches are still clean! 1 in Business & Finance ➔ Renting & Real Estate
Understand as a buyer you have the right to have a Realtor represent you in the transaction and the costs are always paid by the seller. The seller is probably trying to sell themselves so they don't have to pay double costs but I am sure they are expecting to pay half of the Realtor costs. You really need to do this because the Realtor will know all the ins and outs of the forms you sign and the laws, as well as prayerfully get you everything you need. Prayers =)
2006-12-05 08:39:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Talk to a Realtor first. We know our stuff. I recently had a client that was interested in a FSBO but as it turns out, the reason it was a FSBO instead of listed with an agent was because he needed all the money he could get. However, his asking price was about $50,000 too high. My clients found another place because they didn't want to over pay. My commission never came into the picture.
Ask your Realtor to find out if the asking price is reasonable and let him/her do the job they know and love. If I can help out more, send me an email through my website below.
2006-12-05 20:52:25 · answer #2 · answered by royal_fiction 2 · 0⤊ 0⤋
1. Sellers LIE so make sure every little detail and "what if" condition is in writing and signed by both of you. The earnest money should be held by an attorney or title company, not the seller.
2. It is possible to hire a Realtor to just help you write up the offer and any counter offers, or if you are in an attorney state, the contract should specifically state it is "subject to" review by your attorney.
3. Pay for a full home inspection. They can run $300 - $400 but are well worth it so you know what you are buying. Refer to #1. Sellers will lie or at least downplay anything wrong. Sure you can sue them later, but in the mean time you are having your furniture damaged by the leaky roof or exploding hot water heater.
2006-12-05 21:25:09 · answer #3 · answered by bathagent 2 · 0⤊ 0⤋
congrats...you've found a house for the same price as the market, but you've cut out the Realtor's commission and agreed to pay it to the seller. That would be the definition of FSBO.....now you've got a problem, you have NO ONE to represent you and make sure you get all the correct papers signed.....get an attorney to represent you. Do not trust the homeowners to sign the proper disclosures. You will end up in court suing at some point.
2006-12-05 17:03:58 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Get a realtor. Its worth the 6%. You can do it yourself but it is very difficult to manage the transaction while working a full time job. Some realtors would even be willing to cut their commission because they would be walking into a situation where there is a seller and a willing buyer. Experienced realtors have the expertise to close the deal. You will not be able to obtain the knowledge that took them years to acquire in a few hours.
2006-12-05 16:42:43 · answer #5 · answered by Joe K 6 · 1⤊ 0⤋
GOOD FOR YOU! You saved yourself a TON of money.... You should get a home inspection, secure your loan of course, then work with a title company. That's really about it...... It's that simple! The key is the home inspection....make sure you get a good one...also, do not be afraid to ask the buyer to make the fixes the inspector notes....
2006-12-05 16:39:32 · answer #6 · answered by favrd1 4 · 0⤊ 0⤋