SELLING A RESIDENTIAL PROPERTY
SELLING A PROPERTY WITHOUT AN AGENT
When a home seller hires a real estate brokerage to sell their home, there are commissions that the home seller must pay that are typically around 6%. This 6% is generally split between the listing agent and the buyer agent. As such, when a home that is being sold at
When a seller chooses to sell their home without the assistance of a real estate agent, they can save tens of thousands of dollars in commissions. However, the potential savings in commissions could be wiped out in litigation costs if there is just one misstep. As such, while a seller may want to forgo using an agent, hiring an attorney is a smart decision, as they will help protect the sellers’ interests and help them steer clear of any legal landmines.
If a seller decides not to use an agent, it is essential to consult an attorney BEFORE showing their home to a prospective buyer. A seller will need to have important information on issues such as disclosure of defects, lead poisoning disclosures, and anti-discrimination laws. Ignorance of these laws as well as other matters could result in a costly mistake.
If a seller is thinking about selling without an agent, they will be responsible for advertising their home. For most sellers, they will do a quick Internet search, take some pictures, and post their listing on several off-market websites. However, there is a much better approach!
If you would like to learn the ins and outs of how to properly and efficiently sell your home as a For Sale By Owner, please download our FREE BOOK, Sell Your Home With Confidence: The FSBO Edition. In the book, we highlight everything you need to know in order to succeed in your journey as a FSBO!
Once you have read the book, you will be armed with all the information you need to help you sell your property and then, you will be ready to contact our real estate law firm. When you hire our firm, we can review and/or draft the contract, explain it to you, and make sure you know your obligations, when you must perform them, and what happens if you don’t. There are also many provisions that you need to be aware of, such as:
- How much should the deposit or “earnest money” be?
- Who holds the earnest money deposit?
- Under what situations will the buyer be entitled to receive the earnest money deposit back?
- What other items, such as appliances, window treatments or lighting fixtures will convey with the property?
- Will the buyers be including an appraisal contingency?
- What inspections will be necessary, e.g. roof, wiring, plumbing, termites, etc.?
- Should the house be sold “as-is”?
- What duties are owed to the buyers if the seller is selling “as-is”?
- Who pays the cost of needed repairs if the inspection turns up problems?
- Is the home located in a condominium, planned community, or part of a home owners association?
- What if the buyer can’t get a mortgage?
- What if you want to back out?
- Who pays the costs of any state or local deed transfer taxes or fees?
- Who pays for title insurance?
- When do the buyers take possession?
- What happens if the house burns down the day before settlement?
- Can the sellers place money in escrow for repairs that were not completed?
As you can see, the process can be complicated and there are a lot of details that need to be properly addressed. For a seller on their own, the process can be confusing and frustrating and it is very possible key details may be overlooked. It is important for a seller to work with a real estate attorney to ensure the entire process goes smoothly and efficiently.
WHAT IF I CAN’T FIND A BUYER?
Usually, when a For Sale By Owner (FSBO) seller decides to sell their home, they already have a buyer in mind that they want to sell to. In many instances, it is a family member or a current tenant. When the seller already knows whom they want to sell the home to, it is crucial to get an attorney involved from the onset in order to make certain that everything is handled accurately and legally.
However, there are other times in which the seller does not have a buyer in mind. As such, they must procure a buyer through their own marketing efforts. If these efforts are unable to generate a buyer within the sellers desired time period, it may be time to consider hiring an agent to help sell your home. We can help!
Your real estate attorney, Saman Saba, Esq. is not just a typical attorney, she is also an Associate Broker and REALTOR®. With substantial legal and real estate experience, Saman is able to provide insight and value where most sole agents and sole attorneys cannot. This is a formidable combination that is hard to find but important to have on your side! This unique blend places you in a superior position to ensure you receive marketing advice while making certain that your legal interests are protected, too.
To learn more about the hidden benefits of working with an agent who is also an attorney, please be sure to download our informative guide, “The Hidden Benefits Of Working With An Agent Who Is Also An Attorney.”
HOW MUCH DOES YOUR OFFICE CHARGE?
At Saba Law Group, LLC, we can appreciate that every transaction is as unique as the property being sold. As such, we created an incredibly unique yet competitive pricing model in order to better serve you. We understand that you want a transparent way of doing business and that the model of giving an attorney a retainer without knowing exactly what you are getting in return can be scary. What if the attorney charges for every second we are on the phone? What exactly does the retainer include? How much more will the attorney require if we use up the retainer?
We want you to have peace of mind.
This is why we offer several different options, you may either pay us upfront in the form of a flat fee, in which case the fee is not contingent upon the transaction successfully closing OR you may pay us only once if the transactions successfully closes.
To learn more about our services for residential sellers, please download our pricing sheet below.
READY TO GET STARTED?
All of our services are provided electronically and by phone, thus, you never have to come to our office. Contact us today to learn how we are able to provide value where most agents alone simply cannot!
Please Call Or Email Us Today To Schedule A 15-Minute, No-Obligation, Complimentary Attorney Consultation.