Selling house without realtor? (FSBO)

Regarding known sex offenders nearby – Isn’t the only way to find them by looking up online, which is what a buyer could do anyway??

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I am sure there are people who read all the CA real estate disclosures. But I am confident that many people (and likely most people) do not. And at least a significant part of that is because its overload. Disclosures only are effective if they are read. Making them so voluminous that many people tune out defeats the purpose.

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And if there are bidding wars, don’t the buyers have to waive their rights to any inspections etc. in order to get the “prize” aka the dilapidated shack they are bidding on?

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Yes, they can look up sex offenders online without the disclosure. As a seller of real estate, I would disclose the availability of the website. I’d hate to be sued by a buyer who wasn’t made aware of any registered sex offenders in the neighborhood.

An opinion I don’t share based upon my experience. The California Association of Realtors (CAR) doesn’t just make S up for no reason at all. :grinning:

BTW, I’m fairly sure ALL states have some form of a “Megan’s Law” on their books.

There is nothing wrong selling your house FSBO. However, I suggest you hire an experienced local RE documentation processor to go over all the paperwork you signed so the docs are completely executed. If everything goes smoothly, missing a doc or two don’t matter, however, if you get into trouble, you need all the supporting document you need. For example, if you close a deal without a lead based paint disclosure, you might suffer monetary damages if the buyer wants to go to the court with you afterwards. In californina, the escrow company don’t care for those details, but the court may rule in favor of the buyer if the paperwork is not complete. And new disclosures are added every year, a FSBO seller will not be able to keep it up. The paperwork requirements are different by each city, not by the state or county.

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Actually, each city, township, county and state may have different paperwork disclosures/requirements.

And the escrow company has their set of disclosures, although there aren’t that many. Things like if they get something wrong on the title report or the money is tied up in escrow (not because of the title company) for some reason, that they can’t be sued.

But again, for the OP, I’m getting off topic. Best of luck to you!

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And in a time of scarce labor to do necessary or desired repairs, I suspect that a real estate firm will have more access to resources than any one individual FSBO seller.

For repairs, you need to know what to do for your type of house. FSBO sellers do not have enough experiences to know the market requirements and often times make the wrong repair which might reduce the value of the house. You should do your research, mostly on Youtube, to find out what is required in your area. In that respect, a good agent is valuable.

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Thanks again for these insights!!

For review of documents (to ensure all necessary are completed, and correctly) - wouldn’t the real estate attorney help with that? That’s exactly the type of paperwork/admin aspect I don’t know what I don’t know!

Any time frame in mind after which you will list with a realtor if the home does not sell ?

Seems like homes are selling quickly in most areas of the US. I define “quickly” as being under contract within 10 days or less.

I would say, not necessarily. I saw in Maryland that a buyer may use a title company. Depends on state and local practices.
Example of a title company has real estate attorneys plus other professionals.
https://www.americanhometitlegroup.com/services.php

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No. We sold 2 homes and bought 4. Never ever our agent was involved in review of the paperwork. The only paperwork “work” they did was to put offers together based on our numbers (purchase) and to give us a pile of papers to fill out (sale). In fact, our realtors are prohibited from giving anything that can amount to “legal advice.”

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Are you willing to disclose the state ?

Massachusetts ?

I do understand that real estate agents are prohibited from the unauthorized practice of law, but it is not clear what is authorized or even what constitutes “the practice of law”.

I agree with @BunsenBurner. An real estate agent can give you advice on the market, preparing a home for sale with a team of marketers, stagers and contractors, help with offer/list price, contract terms and paperwork, local customs, etc.

If you need legal or tax advice, then seek an expert in those areas. Here in CA, lawyers aren’t necessary in most real estate transactions.

I mentioned it above - WA. Like in CA, no attorney review is required here, but folks can engage one if they wish.

Last time I sold my house, I had Opendoor buy it. In my opinion, it’s a far better deal than doing it yourself, because it takes away the insufferable insanity of staging the house and dealing with the negotiation and paperwork, which you would be doing 100% with a FSBO.

Well, you know Opendoor is NOT a non-profit, so they’re making a profit with deductions for repair costs, service fees, etc.

I can see Opendoor telling me that the loose toilet needs to be tightened and that’ll be $10,000 :stuck_out_tongue_winking_eye:

Some folks like the “sweat equity” and/or the hand holding of a realtor too.

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sold my parents house as Trustee. Had a long discussion with the realtor about whether to pay for an inspection prior to list ‘as-is’, and we decided not to. House was build in 1912, and, as such, much would be not up to today’s code, including electrical (50 amp fuse box) and possibly sewer and plumbing. Even tho such items are grandfathered in, the inspector would note them.

Marketed the property ‘as-is’, and would entertain only offers with no contingencies. (Otherwise, I was prepared to sink some $$ into it to freshen it up.)

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Great additional thoughts, thank you!

I was told buyer picks title company in the area I’m in. I’ll have to talk to some residential real estate friends to get more info on the paperwork aspect and see what I need to learn.

I’m comfortable with the staging, marketing, etc. part. I’ve been to enough local open houses and read descriptions/seen photos to see how…less than entirely effective many realtors are at all that (some certainly do a great job! But I think - rightly or wrongly - I can swing that part).

Publisher I haven’t thought about how long we’d do FSBO before going to a realtor because I am committed to selling this asap and refuse to believe I cannot do it myself LOL :joy:. Plus, the market is still pretty good - inventory low. Fingers crossed.

blubayou - how did it go with the sale of your parents’ house? Did it go for a price you were happy with?

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While the buyer picking their own title/escrow company is customary, it’s not some law or statute, or set in stone, at least that I’m aware of.

Certainly in a competitive market, the Sellers can tell all buyers upfront (e.g., in the MLS listing or with a FSBO, in any literature that you hand out), that XYZ Title Company and escrow officer Jane/John Doe will be handling the transaction. And fees can split anywhere on the 0-100% spectrum. Definitely a negotiable item. If the buyer has a “beef” with it, then you can always acquiese, again depending on the market direction.

In this day and age, with the amount of wire fraud taking place, having a trustworthy title/escrow company handling the money is a good idea.

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