- December 21, 2021
- Posted by: Saman Saba
- Category: FSBO
3 Reasons You Should Hire a Real Estate Attorney for FSBO
When planning to sell a property, most people tend to do so through a real estate agent. However, some may want to avoid paying a commission on the sale to the real estate agent. In this case, the owner would list their property “for sale by owner” (FSBO). This allows them to have full control over the sale of their property, while also saving on some hefty commissions.
While some parts of selling a FSBO property may be doable, other aspects may prove to be more difficult. In this case, hiring a real estate attorney may be of help. While you can take charge of the marketing and other parts of the home selling process, the real estate attorney can help get you to the finish line by dealing with the most important aspect of selling your property which is drafting and negotiating the Purchase Agreement. In particular, here’s how hiring a real estate attorney can help FSBO sellers.
1. Handle Paperwork
The home selling process requires a lot of paperwork. And it may prove to be beneficial if you have someone with substantial legal experience handle this part of the process.
By consulting with a real estate attorney, you can be aware of the paperwork you’ll need to accomplish to sell your home. They can also make sure you don’t miss any important and required disclosures and are complying with the state laws involved.
You will also need to procure a contract when you have found a buyer for your property. Since a contract is a legally binding agreement between you and the buyer, you want to ensure it’s all legally sound. Luckily, a real estate attorney would be able to draft a contract for you, so you’ll have less to worry about.
There’s a lot of third-party transactions involved in selling a property as FSBO. You’ll have to deal with banks, home inspectors, appraisers, and construction companies. By hiring a real estate attorney, they’ll be able to deal with these third-party interactions for you, especially when negotiating.
They can negotiate terms and prices with these third parties to give you more desirable offers. A real estate attorney would be able to review any contractual closing documents to ensure everything is accurate and is in alignment with the terms of the contract.
Real estate attorneys can be especially helpful if you plan to sell a home with unique home sale circumstances. For example, a real estate attorney can help you deal with issues surrounding a non-cooperative co-owner of your property.
3. Consider Offers
A real estate attorney can also be quite helpful when you’re looking at different offers for your FSBO property. They can assist you in evaluating complicated offers from potential buyers and even handle the closing documents following the sale. They can ensure the offer you choose is the best for your sales needs and the market.
Hiring a real estate attorney when you have an FSBO listing can prove to be beneficial, especially during the last leg of the home selling process. They can handle the paperwork for you, especially in terms of the contract. The real estate attorney can also assist you in the negotiations and in considering offers to ensure you’re getting the best deal out of it.
How Can We Help You?
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.