For Sale By Owner

SoMDGirl42

SoMDGirl42

Well-Known Member
Has anyone done a For Sale By Owner home sale (bought or sold)? How did it go, would you do it again? Did you have a lawyer for closing? What recommendations would you make.

I bought my townhouse from a for sale by owner. I had a friend that was a real estate person assist with all the paper work and I paid him (in cash) for his assistance. I'm thinking about selling my townhouse and was wondering if anyone has sold a house by owner. When I bought, it was very painless. Wondering if selling is as easy.
 
J

jaybeeztoo

Guest
SoMDGirl42 said:
Has anyone done a For Sale By Owner home sale (bought or sold)? How did it go, would you do it again? Did you have a lawyer for closing? What recommendations would you make.

I bought my townhouse from a for sale by owner. I had a friend that was a real estate person assist with all the paper work and I paid him (in cash) for his assistance. I'm thinking about selling my townhouse and was wondering if anyone has sold a house by owner. When I bought, it was very painless. Wondering if selling is as easy.
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You could List By Owner and advertise to get the word out, but when it comes down to a real contract, I would recommend having an experienced person drawing one up. There is so much involved and so many loop holes, as a seller, you want to avoid.
 
SoMDGirl42

SoMDGirl42

Well-Known Member
jaybeeztoo said:
You could List By Owner and advertise to get the word out, but when it comes down to a real contract, I would recommend having an experienced person drawing one up. There is so much involved and so many loop holes, as a seller, you want to avoid.
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That's what I did when I bought it, just wondering if selling is as easy. I had the lawyer review every thing before closing.
 
J

jaybeeztoo

Guest
SoMDGirl42 said:
That's what I did when I bought it, just wondering if selling is as easy. I had the lawyer review every thing before closing.
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Seller's job is easy. Just make sure you don't get stuck, by law, paying for stuff you don't want to, FHA repairs, blah blah blah. The list could go on and on. Find your buyer and either you or them hire a lawyer for $250 to have a legal contract drawn up to make sure it covers all you concerns :yay:
 
SoMDGirl42

SoMDGirl42

Well-Known Member
jaybeeztoo said:
Seller's job is easy. Just make sure you don't get stuck, by law, paying for stuff you don't want to, FHA repairs, blah blah blah. The list could go on and on. Find your buyer and either you or them hire a lawyer for $250 to have a legal contract drawn up to make sure it covers all you concerns :yay:
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Your previous employers do real estate, correct?
 
SoMDGirl42

SoMDGirl42

Well-Known Member
jaybeeztoo said:
Not a problem. If I was still there, I would get you rolling, BUT, real estate is out of my blood, at least for right now. Good luck!!
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I really don't want to sell, but I'm sure you know my reasons for even thinking about it. I won't be taking my problems with me.
 
Chasey_Lane

Chasey_Lane

Salt Life
SoMDGirl42 said:
Has anyone done a For Sale By Owner home sale (bought or sold)? How did it go, would you do it again? Did you have a lawyer for closing? What recommendations would you make.

I bought my townhouse from a for sale by owner. I had a friend that was a real estate person assist with all the paper work and I paid him (in cash) for his assistance. I'm thinking about selling my townhouse and was wondering if anyone has sold a house by owner. When I bought, it was very painless. Wondering if selling is as easy.
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I found a legitimate website that lists your property on the MLS for free. The process takes about a week to complete and includes a few forms. If you want the information, feel free to send me a PM.
 
SoMDGirl42

SoMDGirl42

Well-Known Member
jaybeeztoo said:
Hmmmm, I can read so much into that. Am I right? :popcorn:
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and if the "your" lawyer will only charge me $250 to do the paper work for a for sale by owner, it's cheaper than the $5,000 the other lawyer wants for a retainer fee to assist with my "problem"
 
J

jaybeeztoo

Guest
SoMDGirl42 said:
and if the "your" lawyer will only charge me $250 to do the paper work for a for sale by owner, it's cheaper than the $5,000 the other lawyer wants for a retainer fee to assist with my "problem"
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They can do both, but I believe a FSBO contract is $250 but that was a year ago, the price could have gone up to $350. I can't remember.

As far as the other problem, I think $5,000 is a bit steep. Talk to my old lawyers first. I think your case would be cut and dry...no fighting involved...at least in the court's eyes.

I am going to take a nap now before the second shift. I'll chat with you soon.
 
huntr1

huntr1

.
Nieghbors of mine have their house FSBO. It's been for sale for a year or there about. Their new house is damn near done. At this point, if it was me, I'd be hiring a real estate agent for their marketing and ability to bring in more prospects than forsalebyowner.com.
 
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