if i found someone to buy my house on my own and i HAVE NOT signed anything with a realtor?
Sunday, February 7th, 2010 at
12:02 am
can i hire a realtor at a fraction like maybe 2 or 3% to just help me finalize everything as far as closing or would an attorney be cheaper? i want to go with the cheapest method because im taking a huge loss already from this because of the market. thanks!!
is it me buy prescription drugs without a prescription or the buyer that chooses the title company? is that all we really need to do this? also what does the title company charge (is that the closing costs?)
Why don’t you let the closing company handle the job. That is what they do. Don’t hire any one you have a buyer. Spending more money is not gona help yur finances—for an attorned at $500 an hour… The closing company will finalize the deal and give you a check for the hose—OK. Just get moved out before the cloaing. The keys are turned over at that time and the house is no longer your. Either is the stuff in side the house or the garage.
All commissions are negotiable so you can certainly negotiate with the real estate agent what you are willing to pay them. I’ve allowed my agents to take a cut on the commission earned if all they were doing is making sure that the paper work and all the disclosures was done properly and the seller provided the buyer which eliminated the high cost of marketing for us. So give it a shot.
A title company might be able to do it all for you and you could hire an attorney to make sure you covered everything. Paying a percentage can be way to much money per hour if your home is in a high cost area.
Call both!! Call a couple of realtors explain the situation and see what they would charge. I also would call a local real estate attorney and see what he would charge to prepare the paperwork.
There is a whole new market out there (past 10 years) called FSBO – For Sale By Owner, Advisers. They are usually Realtors, title examiners or attorneys who will finalize the deal for you for a fee. It’s going to be a lot less than 2 – 3%. Do a Google search for a FSBO Advisor in your area. There is a lot of them out there.
If you can’t find one, contact a local Title Company. They can help you out. Best of luck!
You could find a realtor and tell them that you would like them to take a 2% (1% seller/1%buyer) or 3% (1.5% seller/1.5%buyer) commission since you found the Buyer. But that agent will also want you to pay all the closings cost,possibly a home warranty too. You can do yourself by getting a for sale by owner kit which has someof the forms you need. Then when you have the contract signed by both you and the buyer take it to a real estate attorney and see if it is written correctly. Sometimes you can do this with a free consultation with the attorney. Take your paperwork to a Title company so they can be a third party to the transaction,keep all monies in a trust account and handle the transaction for you. They will help you through the process and make sure everything else (earnest money, clear title, etc.) is taken care of.
Make sure the Buyer that you found has a pre-approval letter from the lender and is not just telling you they can get a loan. If they are paying cash that is good too. Watch out for the contingencies that Buyers agent put into the offer as well. Those contingencies are loopholes for the buyer to get out of the contract so watch for contingent upon buyers obtaining a loan, contingent upon Buyers approval of home inspection, etc. You should request the Buyer to have a homeinspection done,and even though this is an upfront cost paid by the buyer,it will benefit both you and the buyer. For you, it will be a free inspection of the work that may have to be done in order for your property to sell and for the buyer it will be noted as to what needs to be done (repair or replace)that he will want to do as the new owner. If your Buyer does not want a home inspection make sure you have a clause that states Buyer is waiving a home inspection so that you both of you are protected.