Experiences with selling home by owner??

[JHT]

I’ll let you know how it goes vs what the newer houses have been selling for once it sells. 30yrs old in this neighborhood and market hasn’t mattered much lately.


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Good deal!

[Wits_End]

I have been looking at a few places and some are FSBO. I had a conversation with the loan guy and he said it is better for the buyer to have a realtor. My friend is a realtor and I talked to him this morning, he said no problem and would handle the inspection, attorney, title and all other legal issues for half of what he normally charges.

I can get a realtor to help and do all the legwork for a reasonable fee that I as the buyer will pay, I have no problem with it.

Im confused, what is the realtor doing?
You pick the house.
The hired inspector does the inspection without any work on your part.
The title company handles the title work for set amount.
The contract is straightforward.

You approach a seller, especially a FSBO, and you'll immediately save 3%.

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[Wits_End]

We considered it a few years ago but decided in the end that it was not worth the hassle to schedule and be present for showings, do all the paperwork, etc. My high-school-buddy-realtor got us $20K more than I would have ever thought the house was worth.

Several companies will list on MLS and provide CSS showing system for $500. Buyer's schedule visits and you confirm showing times via text. Simple.
These companies also provide all contract work if needed for few hundred bucks.

Knowing the market and house value can be tricky for some, but in reality if you list way under you'll have a bidding war, if you list way over you'll get looks but no offers. It works itself out.

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[Radar]

Im confused, what is the realtor doing?
You pick the house.
The hired inspector does the inspection without any work on your part.
The title company handles the title work for set amount.
The contract is straightforward.

You approach a seller, especially a FSBO, and you'll immediately save 3%.

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There are some lenders on TBH that will give you more reasons to use a realtor when buying than not. I dont see the problem, especially if I dont know what I am doing.

[IDFWU]

i did not. i already had a good idea of value and then the realtor showed up with a full list of comps. i was within 1-2% of actual sold prices.

Does the buying agent take over at that point? Pick the title company, schedule the closing, etc?

also what FSBO company did you use?

[Killer]

Forgive my stupidity but will the buyer make out a contract on TREC form 20-14 if they make an offer on a house FSBO? I assume the seller then has the option of making a counter offer using this same form?
Somebody spell this out for me.

[wes122984]

Does the buying agent take over at that point? Pick the title company, schedule the closing, etc?

also what FSBO company did you use?

yes, they took over and handled everything. I used 4salebyowner.com paid a flat $99 to list and chose 3% for buyers agent.

Forgive my stupidity but will the buyer make out a contract on TREC form 20-14 if they make an offer on a house FSBO? I assume the seller then has the option of making a counter offer using this same form?
Somebody spell this out for me.

yes offer comes over as contract and you either sign it or send it back with new numbers and or addendums.

[DFWPI]

Sitting in some updates and here is what is in the book.

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[DFWPI]

It's been a couple years, but I downloaded all the required forms from the TREC site.

https://www.trec.texas.gov/forms-and-contracts

If we sell our current house I will definetly sell it myself again.

You can save a lot of time by only showing to pre approved buyers. Keep in mind there is a difference between pre-approved and pre-qualified......



Find a good Attorney to review the forms and a good Title company to do the close and you'll be fine.

The attorney can draw up a contract on their own to help you. As a seller, none of these forms will work for you, as the listing is a TAR form.

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[Killer]

Just sold a house FSBO. The best thing I did was set down with real estate attorney and go over the contracts per line item. It was a small fee but large on info. I would definitely sell another home by owner no problem.

I think the market drives what you can do also. If it is a sellers market and the homes are selling fast and some for more than listing price it is easy. If it is a buyers market and homes are setting for long periods with little activity it is another story altogether.