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star For Sale By Owner Tips > Legal Stuff.

For Sale By Owner Tips

Legal Stuff.

  • Although not required, many people find using a lawyer from the very beginning and along every step of the way brings them PIECE OF MIND knowing that they're not missing anything. They will make sure everything is done legally and will help you understand and draft up legal documents.
  • Lawyers can act as an escrow agent when you receive a down payment from a buyer.
  • You will also probably need a title company to close the transaction.
  • Between the lawyer and the title company, most of the "scary" experiences associated with selling your home are taken care of.
  • Fully disclose all of the major defects that you know about the property. If you don't, the buyer may have the legal right to sue you later for the cost of the repairs.
  • When listing data about your property, use existing legal documents such as surveys, appraisals, etc to find room dimensions, lot sizes, dates, and square footages. These documents can be found at the assessor's office or in documentation from when you originally purchase the property.
  • When working on the offer to purchase, remember everything is negotiable not just the price.
  • You must remain emotionally objective when selling your home. Most deals fall through because of hurt feelings and anger. Always remember that your ultimate goal is to sell the property, focus on that and you'll do ok.

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