A method that many Florida homeowners are using to sell their properties is to do it by themselves without having to use a real estate broker. The idea behind this is to avoid paying someone else for a process that might not need a go-between. However, there is a great deal of nuance when selling a property and those who are considering a for sale by owner (FSBO) should be aware of them. It can be profitable to sell a property without the need of a real estate agent provided certain aspects of this type of decision are fully understood. These include the terms of sale and other factors that make it unwise for the owner to do it all on his or her own.
Real estate brokers do provide a certain service such as knowing all the steps to take when selling a property. In order to avoid having to pay the fees of the broker, the seller must have a basic knowledge of the various bullet points that must be adhered to when selling. Putting the home on the market, deciding on a price, showing it to prospective buyers, deciding upon to whom it should be sold – all are different aspects of the real estate sale. Many choose to hire a broker to avoid any confusion. When doing an FSBO, a lawyer is an integral part of the process to help with factors that the broker might otherwise have taken care of.
Lawyers are key when closing the sale. Going through the title and lien search, finding out if there are any judgments, making certain that the buyer can pay for the property, getting insurance, knowing whether a survey is needed or not, and finding code enforcement are just some of the factors that a legal professional can take care of. Finding a lawyer who can handle legal matters and oversee the closing is another way to save money on the sale. This can be used concurrently with the decision not to have a broker to have a better financial result.
With the economy in flux and questions about what the future will hold with changes to the tax laws and government upheaval, property owners are seeking to maximize their profits when selling a home. Part of that is an FSBO. When moving forward with FSBO real estate transactions, having help from an experienced attorney is one of the most important and smartest decisions that can be made.