If you decide to sell your house for sale by owner, also known as FSBO, you may need to understand the requirements and navigate a number of steps to prepare, list, market, show, and close on your property. In some cases, owners of residential properties may only see how much they could potentially save by handling this process on their own without considering how difficult the process may be without a third party agent or broker.
Some property owners may be capable of handling a FSBO transaction successfully, including putting in the efforts required to ensure potential buyers know about the home and are left with a good impression of a nice property at a fair price. For others, though, the legal aspect of the sale and the paperwork required to close the deal may make it almost seem worth paying a real estate agent a commission. If you are in this position, there may be another solution.
Steps Involved in Selling Your Residential Property FSBO
If you are considering going FSBO to list and sell your residential property, it means you may be willing to trade some hard work and stress to possibly save your family tens of thousands of dollars in real estate commission fees.
If you decide to sell your house for sale by owner, there may likely be a lot of work involved except in rare cases if there is already a buyer or things fall into place.
Real estate referral company HomeLight lists some of the tasks you may need to complete during this process, including:
- Researching the local real estate market, identifying comps, and putting a price on the home.
- Learning about real estate disclosure regulations that may apply to your home such as those related to potential lead hazards.
- Renovating and updating your home to better appeal to potential buyers.
- Taking photographs and listing the home online.
- Scheduling showings, giving tours, and planning open houses.
- Taking phone calls from potential buyers and their real estate agents.
- Working with home inspectors to repair any issues.
- Accepting and rejecting offers and negotiating an acceptable price.
According to Entrepreneur, modern tech has made this process easier, especially connecting with buyers and marketing your home. This may make FSBO seem more attractive, especially if you consider how much you might otherwise have to pay in real estate commissions.
If you reach an agreement with a buyer, it is time for the paperwork. Contracts, legal compliance, deeds, and other legal paperwork must adhere to local rules and state laws. Even real estate agents may enlist the help of a real estate attorney for this part of the process, and this is an option you may want to consider as well.
To consult with an experienced for sale by owner lawyer today, call 855-686-6752
Support and Advice may be Available for Help With the Tricker Parts of FSBO
A residential real estate lawyer may be able to handle contracts and closings for a wide variety of transactions, including FSBO real estate sales. They may offer virtually any real estate legal service you might need during the process of preparing, marketing, and selling your home.
A lawyer may offer support, advice, guidance, contract reviews, or handle the entire legal transaction from start to finish on your behalf. They may also be able to answer your questions about disclosures and other legal requirements when selling a residential property.
Let the Bogin, Munns & Munns Team Help With Your FSBO Transactions
If you are considering selling your house for sale by owner rather than hiring a realtor, the decision may be easier if you understand how our team at Bogin, Munns & Munns may be able to help you with the legal aspects of the transaction and provide additional support at a cost that is likely less than a real estate agent commission would be.
You may discuss your needs with a member of our team who can explain our services and how we can assist you with contractions, the financial transaction, necessary paperwork, and more through a free initial consultation.
We have 13 locations in Central Florida and North Central Florida and may be able to meet with you for a consultation at any of them. Our Main Office is in Orlando, with additional offices in Clermont, Cocoa, Daytona, Gainesville, Kissimmee, Leesburg, Melbourne, Ocala, Orange City, St. Cloud, Titusville, and The Villages.
You may reach a member of the Bogin, Munns & Munns residential real estate team by calling (855) 686-6752.