For Sale By Owner: Do You Need a Real Estate Agent or Attorney?
Selling your home can be a challenging task. Selling your home on your own without experience or knowledge of real estate law can make a challenging task turn into an overwhelming one. Deciding whether to go it alone or hire a lawyer or real estate agent for assistance is an important decision. Learn more about the For Sale by Owner (FSBO) process and what options are available to you.
FOR SALE BY OWNER (FSBO)
Known in the industry as “fizzbo,” selling your house yourself affords you the opportunity to make a greater commission. However, evaluating the market, your home’s true value, understanding the real estate law, the ability to create a legally binding contract, and determining if a prospective buyer is qualified, are just a few of the hurdles selling your home on your own will entail.
REAL ESTATE LAW
Real estate law is complex, and to sell your house by yourself, you will need to learn all of the applicable laws and regulations in order to legally sell your home. Disclosures, contracts, marketing, research, transfer of ownership, and taxes are just a small portion of what you would need to research and understand to correctly and legally sell your home as a for sale by owner.
REASONS TO HIRE A REAL ESTATE AGENT
You may be able to set the price of your home, advertise it on the Multiple Listing Service (MLS) to showcase it in realtor.com or zillow.com, and handle some of the paperwork on your own. However, a real estate attorney will be able to handle the flurry of legal paperwork, hire inspectors, negotiate with buyers over repairs, handle the transaction as a neutral third party, have access to qualified mortgage loan brokers, and understand the legalities of selling in your specific area. This experience can make the selling of your home an easier and more streamlined process.
It is possible, though uncommon, to hire a real estate attorney to charge by the hour, or only to review a sales contract, instead of the typical 5%-6% that real estate agents typically charge.
REASONS TO HIRE A REAL ESTATE ATTORNEY
If you are choosing to sell your home on your own, contacting an experienced real estate attorney can ensure that you make legal decisions regarding your property that are in your best interest. Oftentimes, legal issues present themselves that a real estate agent does not know how to answer. Title issues, property issues, and legal actions are handled best by a real estate attorney with experience.
EXPERIENCED A REAL ESTATE ATTORNEYS IN HUNTINGTON BEACH
Real estate attorneys and real estate agents provide different services, and both can be beneficial if you decide to sell your house on your own. In certain circumstances, it can be a good idea to utilize both of their services. However, real estate law can be complex, especially as you move forward with the process of selling your home. Visiting with an experienced real estate attorney from Thaler Law can help you understand your legal rights regarding the sale of your home. Contact us at 714-869-2900 or online today for your free consultation.