FSBO Questions

[seniorjudge]

[quote=mike-jons;1614445]Hello, I`m from Alabama

I need some advices about For Sale By Owner (FSBO).
If you are asking us what you should do if you sell FSBO, then the first things I would do is get a survey, get a title commitment (with buyer to be determined), and hire a lawyer to finish the sale.

[LindaP777]

I've sold 7 house FSBO in the last 7 years.
No survey required in Ohio, so I don't get a survey.
Once I have a buyer, I fill out a very simple purchase contract. If your buyer is getting a mortgage, they will hire the attorney to do a title search and close and record deed. It's pretty simple here.

If they are not getting a mortgage, then the two of you will have to decide who is paying for the legal fees. As SJ says, hire an attorney to do the work for you.

[Lyn_OHIO]

LindaP777, (FSBO) I am selling a home in Ohio - what do I need to do. The below is what I have done:

Purchase Agreement - Signed by both parties
Disclosure Statement - filled out & signed by both parties
Lead Paint Disclosure - filled out & signed by both parties

Is this all I need to do? Is there anything I missed? Do you think I would need an attorney?
Thx, Lyn

[moburkes]

Start your own thread with your question and it will be answered. Thanks. Please don't post a link to your ad, though.

[Lyn_OHIO]

Am I doing something wrong ?? should I post my question in a different place? is that what you are telling me? I am confused - my question is not spam; just for the record.

Please let me know.
Lyn

[seniorjudge]

Originally Posted by Lyn_OHIO

Am I doing something wrong ?? should I post my question in a different place? is that what you are telling me? I am confused - my question is not spam; just for the record.

Please let me know.
Lyn

As you were told: Start your own thread and don't post advertisements.

[HomeGuru]

Originally Posted by seniorjudge

As you were told: Start your own thread and don't post advertisements.

**A: yes, no advertising.

[nextwife]

Originally Posted by LindaP777

I've sold 7 house FSBO in the last 7 years.
No survey required in Ohio, so I don't get a survey.
Once I have a buyer, I fill out a very simple purchase contract. If your buyer is getting a mortgage, they will hire the attorney to do a title search and close and record deed. It's pretty simple here.

If they are not getting a mortgage, then the two of you will have to decide who is paying for the legal fees. As SJ says, hire an attorney to do the work for you.

I just noticed the above. While that might be correct for Linda's state, it is not universal or correct for all states.

In WI, for example, the state-bar, standard residential-offer-to-purchase pre-printed language, makes the seller responsible to pay for and provide an updated title commitment, and the seller is responsible to have their attorney or title company prepare the closing statement, deed and transfer return, and disbursements if a cash deal. Lender disburses if financed. The lender's closer does NOT do deed or seller side doc prep, only the lender docs.

Also, many municipalities have various inspection and certificate requirements to be met prior to transfer. Code compliance inspections, storm water drainage inspections, exterior paint, Rental Energy inspections certificates, and so on. The FSBO must research what they will need to to provide and take steps to obtain it.

Nice to see you around, HG!

[HomeGuru]

Nice to see you around, HG

**A: thanks. Good to be back.