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June 27, 2008
What's involved in selling FSBO?
Besides finding myself a real estate attorney, what should I do if I want to list my place as a FSBO?
Run credit checks?
What information should I ask the prospective buyer for, and what do I need to be able to provide?
Or will a real estate lawyer be able to guide me through all this and all I need to to is advertise and babysit the open house?
Comments
If you have no clue on how to do a FSBO, why would you trust a blog for how to do it?
Stop being cheap and use a RE Agent that knows how to do this stuff.
Posted by: guest at June 27, 2008 2:26 PM
Real estate attorneys have nothing to do with listings.
Their function is to help you go to contract and close with the transaction.
Your lawyer is their to protect your rights not list the property.
Posted by: Ysabelle at June 27, 2008 2:50 PM
thanks 2:26,
But I thought this was a forum where people ask questions about things they don't have a clue about.
And yes, I am cheap.
Posted by: chip at June 27, 2008 2:56 PM
RE agents RARELY earn their 6%. I'm with chip.
Posted by: mlbee at June 27, 2008 3:00 PM
Chip,
This is an oft asked question and you are asking in the right place.
Do a search on FSBO and you will find a bunch of tips
Posted by: guest at June 27, 2008 4:20 PM
Chip, you have to decide on a listing price, take some good pics, and advertise your place. 90% of people look at NYT.com and craigslist, so those are good places to start. NYT.com is not expensive (maybe $60 a week or so, I don't remember) and craigslist is free.
If and when you accept an offer, you get mortgage pre-approval information from the buyer (if they have it) and your attorney will draft a contract to send to theirs. There is no credit check done by the seller, because you're relying on the mortgage pre-approval for that.
I've done FSBO before, and my only regret was that I feel that a broker could have negotiated better on my behalf. It can sometimes be awkward for both the buyer and seller to negotiate directly.
From the buyer's end, my one piece of advice is to avoid over-advertising and over-talking when people come to look at your place. Good luck!
Posted by: seahag21 at June 27, 2008 8:29 PM
thanks everyone!
Posted by: chip at June 30, 2008 12:38 PM
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