- December 31, 2021
- Posted by: Saman Saba
- Category: FSBO
All the Documents Involved When Selling FSBO
Selling a property as a FSBO listing — that is, without the assistance of an agent – can be a complicated process with plenty of pitfalls. As a seller, you will be responsible for marketing your home, holding open houses, showing the property, negotiating with the buyer, and navigating the closing process — all on your own. Those tasks are nowhere near simple, but they’re achievable with a bit of elbow grease and some internet study. That said, the sheer quantity of paperwork needed in selling your property is the one aspect of the solo sale that usually overwhelms FSBO sellers. So what exactly are these documents? Read on!
Paperwork for Selling a House by Owner
The following is a thorough list of all the paperwork you will need to sell your own house (states may differ):
- Professional Appraisal
- Home repair and maintenance records
- Your mortgage’s payoff amount (Mortgage Statement)
- Insurance Documents
- Renovation Receipts
- HOA Documents (if applicable)
- Condominium Resale Package (if applicable)
- Warranties and Manuals
- Report on the Preliminary Title
- Mandatory Disclosure
- Report of Pre-Inspection
- Retainer Agreement for attorney
- Net Sheet of the Seller
- Purchase Agreement
- Home Inspection Report
- Closing Statement
- Forms for Deed Taxation
Once you’ve gathered all of your paperwork, make at least two copies of anything and keep them handy. This way, potential buyers can check them when they come to see your house.
Are There Any Closing Fees for FSBO Homes?
Even if you do not use a real estate agent, there will always be a closing fees for you as the seller. The good news is that nearly everything in a For Sale By Owner deal is negotiable and you can try to negotiate, depending on the state of the market, to have the buyer pay some of your closing costs but please keep in mind that that is rarely ever the case! Another thing to bear in mind is that closing fees will vary by state. A deed transfer tax, tax, and document preparation are typical examples of closing fees. You may also be required to pay for the owner’s title policy.
Who Can Help Me With My FSBO?
You will have to complete a lot of paperwork and sign plenty of contracts if you sell your house at any point. With most of the documents legally binding, it has never been as crucial to have a real estate attorney in Maryland onboard to check for any potential mistakes or loopholes. A real estate attorney can help you with all the paperwork involved in selling a house plus more. An attorney can also guarantee that you follow all applicable state laws at all times. Once you’ve received an offer on your property, a real estate lawyer can draft the purchase contract to help you negotiate..
How Can We Help You
If you are interested in selling as a For Sale By Owner, you’re in the right place.Get the legal assistance you need to sell your FSBO property. Saman Saba is a real estate attorney in Maryland working to empower real estate sellers and buyers so that they may make better and more informed decisions regarding one of their most important assets: their residential properties. In an effort to help you successfully sell your property as a For Sale By Owner, we have prepared a FREE FSBO Success Packet which includes:
- An in depth explanation of our flat-fee pricing model and exactly which services are included.
- A complimentary copy of Saman’s bestselling book, Sell Your Home With Confidence: Reduce Your Liability When Selling, FSBO EDITION which goes into depth regarding what steps a FSBO seller should take when selling their property.
- A complimentary viewing of a 30-minute Masterclass entitled, Home Equity Protection: How To Not Be Bamboozled When Selling which highlights the main ways that home sellers can leave thousands of dollars on the table when selling.
- And so much more!
Ready to get started? Click here to schedule a complimentary consultation.