Options:Finally selling my rental and while I will interview relators, I flipped the status of my property to For Sale on Zillow. After a bunch of spam texts, I got a call from a local guy who seems legit, so it seems like finding serious buyer may be doable. I have time to show it, I know what it's worth, I can negotiate, the only thing I am scared about, is being a victim of a scam where I sell the house, but don't get the money, or get sued for not following some procedure. Of course, I will find an experienced local real estate attorney, but I am wondering what you think. Is selling by owner not worth the risk even if you have some offers, or it's fine if you have a lawer on your side.
FSBO: For Sale By Owner
Flat Fee Listing Serrvice (various setups and packages on what they do and don't do).
Reputable R/E Brokerage
Follow the steps:
Use a local title/escrow company to handle your documents, DROA, deposits, funds, etc.
And...(not or) consult with your own legal counsel (keep you safe).
Do not handle contracts, legal documents, funds, money, deposits, etc. Let the escrow/title company and attorney do that.
If you do not do the above, you can leave yourself into some tough spots.
Or....for some people, not everyone, it can work out okay and they take good chances.
dis laimer: everyone has different experiences with things and opinionizations based on none or multiple professional experiences, etc.
j
I have bought and sold R/E of various types in many different ways and some went poorly and many went nicely. Some brokerages/realtors were absolute ......and I lost money and time...and some FSBO's went great...or not so good.
Statistics: Posted by Sandtrap — Mon Apr 29, 2024 7:45 am — Replies 13 — Views 1199