gregorygarver.com

[samiDEE]

I am looking to sell my home. I have had it on the market with realtor's but I believe the price is too high partially due to compensating for the realtor commissions. I think I can price the home competitively if I can eliminate those commissions and go through a "by owner" type thing. I am leery about the up front costs of a "by owner" transaction as well as the legal issues that may pop up.If I get a real estate attorney, how much can I expect to spend for "standard" services?I have nothing against realtors and I know the current problems are with the market. I am just looking at taking a different approach.

[Kevin]

You just need a competent attorney. Realtors try to maximize their money way too much. I've always believed that greed of realtorswas partially responsible for the bubble and thus the housing collapse.Edit: Attorneys fees can run from $2000 to $5000 for closing costs and a full disclosure document "legally written." It's always best to get referrals and a free consultation with a perspective attorney before you hire.

[Live_For_Today]

You get what you pay for. Not may people have the knowledge to sell a home by themselves. It is a lot more than getting on the MLS. Do you know what disclosures have to be made.

[JadeLeprechaun]

I would strongly advise against using a company like this (ex. Help U Sell). The agents are inexperienced and have had many problems with titles that have resulted in lawsuits. This is public knowledge and you should look it up before getting into contract with a company like this. In addition Help U sell and similar companies do still charge commissions. Their listing fee is typically $5,000, but can go higher depending on the price of your house. In addition, many realtors will not show your place to their buyers because why would they show a place with a low commission or no commission, when there is plenty of supply available. And they typically shy away from showing any property listed by one of these companies. I understand how people see realtors like they are trying to take your money, but in reality they are not. Homeowners tend to have a prejudice with their own homes. They think others should see how special their house is too and that it is worth as much as you are asking. Problem is, people looking don’t care how special your house is to you, they want market value. And in today’s market there is a current supply of 16 months. Meaning that there are so many houses for sale on the market and not enough buyers. This means it is a buyers market. And in a buyers market they have the supply to get the price they want, which means if you are not competitively priced, your house could sit for almost 2 years. You need to remember that you may think your home is worth more than it really is. The market value and appraised value are two different things, and the longer you have it sitting on the market, the harder it will be to sell. Don't blame the realtor, blame the market. And for what the first guy said, are you kidding me, blaming the falling of the housing market on Realtors, it’s that kind of idiotic thinking that leads people to end up getting less than what they should get for their house because they think they can do better. Look up statistics of for sale by owners and for sale by realtors, huge difference in how long your place is on the market. It’s a very rare owner who knows enough about real estate to actually be successful in a for sale by owner. In addition, a for sale by owner will not attract realtors to show their space, the best you will get are some looky loos when you have to give up your weekends to do open houses, then they will go to their realtor tell them about your place and the realtor will show them a better price for a similar property that pays a commission.. Leave it to the professional to handle, besides you can negotiate a commission, which is something you should know if you are going to go the route of for sale by owner.

[Spockrhp7113]

To me, its simply not worth it to FSBO. In what you'll pay in legal fees, you can get an agent. If your house in pricier, you can simply hire an agent to look over your paperwork, but not represent you or find you buyers, and the cost is typically only 500 to 1,000 USD. The costs of a good FSBO don't tend to save you much money in the long run, when you factor in advertising, legal costs, and the fact that no one is negotiating terms like down payment, closing costs, and what stays/goes, which can easily save you thousands. You also have to put in the amount of time that an agent would to realistically sell your house. Agents don't just collect their 6 percent and walk; that 6 percent pays for the signs, the advertising, and the time they spend finding buyers, showing them housing, et all. They also have to split that amount with the buyers agent (so really, they're making 3 percent). and then 20 percent comes out in taxes, like everyone else. When you break it down, your agent , should you find a good one, is doing a great service for a very typical fee. Whichever path you choose, please make sure someone, either an agent or lawyer, looks over the paperwork, so that if you are sued for problems, disclosure, et al regarding the property, you have recourse. In most states, the real estate law course for a simple salespersons license takes over a month to complete, and there are a lot of laws, and codes that could govern your local area as well.If you choose not to do the above, the important thing is DISCLOSE, DISCLOSE, DISCLOSE. If there is ANYTHING wrong with your property, do not hide it, lie about it, or even omit it. Not telling your buyers the water doesn't work, for example, is the same as straight out lying to them about it in the eyes of the law.

[tom4bucs]

I suggest you find a company that offers a flat fee non- exclusive agency agreement that doesn't promise you pretty pictures in publications that the public will never see but will include your listing on the local MLS. Still you need to be prepared to pay a coop commission if you go this route. If you want to cut 85% of your market out of the picture and not offer a coop commission to a buyers agent then I suggest you don't use any "by owner" type of service and advertise on your own. If you are leery about the legal implications of doing it on your own I think you should return to the orignal plan of having a full service Realtor. Protecting your interests is big part of their job.

[tyty]

for sale by owner services are just that.You as a homeowner work harder to sell the home and realtors need quick access to a home to show it. if you are there and it is not clean or fixed just right, you could lose a sale to a higher priced home down the street. No, I am not a realtor, I just read many tips on selling homes. I am in financing though. I do like the for sale by owner service whereby you list it for a flat fee and you pay a lic'd realtor the buyers fee and not a listing fee ( for doing nada).to me attorney's make mistakes too especially if it's a cheap attorney who passes on the paperwork to a legal secretary who may not know his or her stuff. I prefer to use a realtor for 1/2 the fee and a title company. Attorney are required however in many east coast states. but there fee is a nominal $500 to 41,000 bucks while a listing agent fee is 2.5% to 3%,.I say , "save more where it counts" the pocket. listed below is a good for sale by owner service which puts you on the local MLS (for realtors) and numerous other media sources all inclusive.