- October 27, 2021
- Posted by: Saman Saba
- Category: FSBO
Why You Need Legal Counsel When Selling Your Home FSBO
One of the biggest assets you will likely ever own is your home. While some owners work with a listing agent to sell their home, others would like to flex their DIY chops and sell their homes themselves.
People choose the latter because they want to reduce the cost of a listing agent’s commission and control marketing and negotiations. However, if you do this, you may experience some legal risks, especially now that selling a home FSBO has become more challenging because of the complexities of real estate transactions.
If you don’t seek legal counsel to help with your FSBO, the legal risks you may experience can cause trouble down the line, so it’s best to omit these issues as much as you can. If you’re still unsure about hiring a real estate attorney, here are some reasons you should:
Reason #1: They’ll Handle All the Paperwork
There’s no denying that when it comes to selling property, you’ll be faced with a mountain of paperwork, and for an average person, all this legal jargon and language can be pretty overwhelming.
To help you decipher all of these legal codes and ensure that all your paperwork is in place, an attorney can guide you through all these legalities to ensure that you’re complying with the state of law.
Besides that, you’ll be able to limit your liability by not missing out on important legal work.
Reason #2: Serve as Your Middle Man to Manage All Parties
When selling a home, there are different parties involved, such as the buyer, real estate agent, home inspection company, appraisers, financial institutions, and even contractors.
Of course, it can seem quite daunting managing all of these on your own, but an attorney will have the required skills to deal with all of these parties, if needed. Additionally, if any of the partnerships breach a contract or buyer defaults, your attorney will enforce terms that will help mitigate these risks.
Reason #3: They Will Protect You From Various Situations
Some FSBOs learn everything by the book or by what they read up online. Although this might be good, it’s always great to have legal counsel to back you up. This is because you may end up in unique circumstances like having liens on the property, illegal additions, renovations, easements, and more.
In some cases, sellers may disagree with a co-owner or buyer, so it’s best to hire a real estate attorney who could guide you through these instances, preventing any legal trouble that may arise.
The Bottom Line: Avoid Legal Issues and Navigate Through Your Home Selling Process With a Real Estate Attorney
It’s no secret that selling a home can be complex. Because of this, it’s best to hire a real estate attorney, especially if you’re selling a home FSBO. This way, you’ll rest well knowing all your transaction processes are in check, and you’ll obtain credible and helpful legal advice that could help you close a sale.
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:
- A clear 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.