We were going to list our house with a realtor (hadn't even contacted anyone yet) in a few weeks - somehow it oddly worked out that we have a buyer for our home...now I have no clue how to proceed. I've contacted a title company and they are supposed to be calling me back shortly. Anyone have any experience with this and could provide some tips?
-
So does the buyer not have an agent either? If they do, you still have to pay the buyer's agents fees (aprox 3%) but they'll provide paperwork, etc.
If not, you can get a lawyer to draft up some paperwork. They probably have some "standard" stuff so it wouldn't be a lot of hours billed to get it to you. Certainly much cheaper than 6% of your house price.
Do NOT try to sell it without any contract whatsoever. Sales can go south for all sorts of reasons and you need to be protected.
-
We did this! The title company gave us a contract to use, and we had a real estate attorney review everything. Easy peasy!
-
It will all depend on your state and how things are done there (ie in NJ my brother had to specifically hire a real estate attorney whereas here in TN we just hire a title company that is run by an attorney). Make sure any and all contracts are provided by and reviewed by some kind of qualified attorney, and make sure you are covering yourself for all contigencies, inspections/financing etc, and that you have ALL the proper paperwork in place like disclosure forms and a clean termite letter. Even if the sale goes through if it's not done properly it could come back to haunt you years later.
-
We are currently buying a FSBO without a realtor. We are using assist-2-sell to handle all of our paperwork for a much smaller fee than we would be paying a realtor. If not, we would have just hired a real estate attorney.
-
@laughlines - they do not have an agent, kind of a friend of a friend mentioned we'd be selling our house and here we are. The title company I'm waiting to hear back from (my mother used to work for years ago) the owner's husband is an attorney so I think they work together on these deals.
@grizz - good to hear - did you have them do an earnest money deposit? Did you split the closing costs or anything or just pay for it all?
@mamamoose - good advice
@radish - Doesn't look like we have Assist-2-Sell in our area
-
@theknest: We paid for it all but factored it into the price of the home. We will be keeping their rental deposit as their earnest money.
Reply
Subscribe to our newsletter
- Google Plus
- Stumbleupon
- Twitter
- Facebook
- Pinterest
- Favorite0
6 comments