how to buy/sell your own home without a broker or lawyer

Your three main options to sell a house without a Realtor® include: Sell to a cash buyer Hire a real estate attorney to facilitate a sale to a known buyer

Full Answer

How to sell a house without a realtor?

Verify buyers and agents by asking for driver’s license numbers. Put a spare key in a lockbox so buyers with agents can access the property. Consider hosting an open house. When someone is interested in buying the house, take their offer, but be ready to negotiate. It’s acceptable to counter offer when selling a house without a realtor.

Do I need a lawyer to sell my house?

No law requires you to hire a real estate agent when you sell a house or buy a house. Instead of using a real estate agent whose commission can deplete up to 6% of the home’s sales price, sell home using lawyer assistance. My service makes sense if you have a buyer lined up.

What to do when someone wants to buy your house?

Verify buyers and agents by asking for driver’s license numbers. Put a spare key in a lockbox so buyers with agents can access the property. Consider hosting an open house. When someone is interested in buying the house, take their offer, but be ready to negotiate.

Do I need a lawyer to sell my inherited property?

The attorney can help you understand and abide by the trust, and confirm it’s your right to sell the property. If you’re one of multiple inheritors laid out in a trust, an attorney can also represent your personal interests. An attorney can even turn over stones to find and understand any issues that may remain from the previous owner.

What is FSBO for sale?

For Sale By Owner – Selling a house without a real estate agent is called a FSBO (pronounced “fizzbo”). If you sell your home yourself without using a real estate agent, you can save $30,000 to $90,000 (or more) on a commission given expensive Southern California and particularly-pricey Orange County real estate.

What does a real estate lawyer represent?

A real estate lawyer represents ONLY YOUR interest in a transaction that –for most people– is one of the largest financial transactions in their entire lifetime. An agent often balances many ‘interests’. A sales agent certainly has their own self-interest in mind.

What is a For Sale By Owner service?

My ‘For Sale By Owner Service’ – is for California property owners who –typically– already have their buyer in mind, know what their property is worth, and don’t require marketing assistance. The sale can involve land, commercial, residential, retail, or industrial property.

Is it escrow closing day?

Many real estate buyers and sellers find themselves without any legal advice or counsel throughout the entire real estate purchase/sell transaction. Then… it is ‘escrow closing day’ . Binge-Signing Day! You might sit down with a professional “signature gatherer” or at the desk of a busy escrow officer. Either way, if you’re normal, you’ll feel pressured that you should know what you’re doing (even if you don’t) and be feeling pressured to move through the stack of documents quickly.

Do you need a real estate attorney to sell your home?

The process of selling or buying your home is quite complex. Many states 1 require buyers and sellers to use a licensed Real Estate attorney to close a sale. Western states, like California, have allowed buyers and sellers to used licensed real estate agents who are overseen by a DRE licensed Real Estate Broker without a mandatory real estate attorney. In California, having a real estate attorney representing YOUR interests is recommended but optional.

Do sales agents get commissions?

A sales agent certainly has their own self-interest in mind. Most agents desperately strive to close a sale resulting in getting a commission. Closing a sale is not always in the buyer or seller’s interest. Logically, a real estate agent wants the largest possible commission for themselves and their broker-boss.

Do realtors offer value?

Realtors, as expensive as they can be, do offer a value if you have not already located the home you want to buy privately, or have a buyer lined-up to purchase your home (FSBO). Their value includes helping you come up with your home’s listing price, their marketing resources, holding open houses, etc.

How to get buyers to see your home?

Be cautious to protect your safety. Verify buyers and agents by asking for driver’s license numbers. Put a spare key in a lockbox so buyers with agents can access the property. Consider hosting an open house.

How to sell a house without a realtor?

Selling a home without a realtor allows you to keep more of your proceeds, but you need to price it fairly to get interested buyers. You can use the Internet and its many tools to give you a starting price, but no algorithm can perfectly price a home.

What does a real estate agent do when selling a house?

In a typical home sale, a real estate agent would: Help you determine a realistic price based on current market trends. If you’re highly organized and determined, you can handle these tasks on your own, but you need the right preparation and knowledge.

What to consider when selling a home?

The home needs to look inviting to people who drive by. Consider the repairs that will help make it easier to sell, but do count the costs.

Can you counter an offer on a house without a realtor?

It’s acceptable to counter offer when selling a house without a realtor. You do not have to take an offer you think is too low or unfair. Remember that buyers often go back and forth multiple times before reaching a final agreement. In this process, be realistic about your price, concessions, and the speed of the sale.

Can you price a home with an algorithm?

You can use the Internet and its many tools to give you a starting price, but no algorithm can perfectly price a home. Consider comp sales in your area, repairs, and upgrades the home needs, and the overall condition of the market. Hiring an appraiser can help with this process. Next, you need to prepare the home.

Do you need a title company for closing?

For the closing, you will need a title company or settling agent to help finish up the process. The fees for these are your closing costs, which will be the responsibility of either you or your buyer based on your final purchase agreement.

Why is a real estate attorney important?

A good real estate attorney provides a backstop for your real estate agent, finding loopholes in the purchase agreement, saving you money with contingencies, and maybe even insulating you from lawsuits years down the line. Let’s go over some of the situations where hiring a real estate attorney is a good move, the responsibilities ...

How much do real estate attorneys make an hour?

Real estate attorneys are paid by the hour — market rates are between $150 and $350. You may be able to negotiate a flat rate, or a cap on the number of hours they work on your behalf.

Why do sellers need an attorney?

Some sellers also appreciate that an attorney can help navigate legal issues and protect them from future litigation or conflict.

How much does a real estate lawyer charge?

Real estate lawyers usually charge $150-350 an hour, or may offer flat fee rates for straightforward work

What can a real estate lawyer do?

A real estate lawyer can help you understand your rights as well as your tenants’ rights, and help protect you from litigation.

What to do if the owner of a home doesn't set up a living trust?

If the owner didn’t set up a living trust, you’ll want a lawyer to guide you through probate before you sell the home.

What is clever free agent match?

Clever’s free agent-matching service is a great way to find agents that specialize in sales like yours. With Clever, you’ll be able to interview multiple agents until you find the perfect fit for your sale AND you’ll only pay 1% or $3,000 in listing fees!