FSBO - SHould I hire a Lawyer to handle the contract?

Florida, Broward County

After talking to various Real Estate Agents I realize that there's nothing that the provide that I can not do. Hence, we are considering selling the hous ourselves. What worries me is the sales contract. Should I hire a lawyer? Are there lawyers specilized in service home sales by owners? Aproximately, what are the fees for such services?

Thanks a million.

[JETX]

See if you can get your hands on a clean copy of the 'standard' Florida home sales documents. Should be at least, a contract; disclosure form(s); and possible addendums. Once you have those, you will be a LONG way to doing this yourself.

Here is a some sites that sell the forms:
[url]http://www.altastar.com/complete.html[/url]
[url]http://www.realfast.com/index.cfm[/url]

[Souix]

[quote]Originally posted by sosorio
[b]Florida, Broward County

After talking to various Real Estate Agents I realize that there's nothing that the provide that I can not do.


1. Have you interviewed the agents that work for the company (can't post the name of the company here) that says "If we can't sell your house we will buy it"?

2. Are you a member of the Multiple Listing Service?

3. Has any realtor offered you a free website to showcase your home?

4. Do any of the Realtors put their committment to service in writing and let you out of the contract if they do not perform?

5. Do any of the Realtors offer you a One Year Home Protection Plan free of charge while your home is on the market?

6. Has any realtor you interviewed presented you with their marketing plan in writing and what they do to market your home besides putting a sign in the front yard?

7. Do you have at least 1 to 2% of your asking price a month to advertise your home in your local newspaper?

These are just a few of the things you should consider and talk to a Realtor about when selling FSBO, besides all the paperwork.

I have interview 3 RE agents. Both gave a fair market price for the house and all three were in the same ball park.

As far as their mktg plan consists on paper listing, yard sign etc...All the mktg stuff I can do on my own at a fraction of the cost including MLS listing (is MLS the first resource for home search for realtors and buyers?).

Although my house is only 3 years old, I really don't want to deal with the contract itself and would be willing to hire a lawyer just for that purpose. Since I'll have to hire a title company to sale the house, can they represent me on my best interests with the contract? Any idea on their fees?

[Souix]

Originally posted by sosorio
I have interview 3 RE agents. Both gave a fair market price for the house and all three were in the same ball park.

As far as their mktg plan consists on paper listing, yard sign etc...All the mktg stuff I can do on my own at a fraction of the cost including MLS listing (is MLS the first resource for home search for realtors and buyers?).


**If the buyer wants more info, like the address, yes it is. You need to be a member of the multiple listing service to list your home there. Realtors use MLS constantly. Marketing into the MLS is something I do, but most Realtors know nothing about. FSBOs do not have access to MLS, only Realtors, Attorneys, Builders or Appraisers.** Look at it this way. If there are 6,000 Realtors doing business through your local MLS and each one of those Realtors has 3 clients, how many buyers can be obtained through the multiple listing service? Thats 18,000 buyers. How would you have access to 18,000 buyers as a for sale by owner at half the cost?**


Although my house is only 3 years old, I really don't want to deal with the contract itself and would be willing to hire a lawyer just for that purpose. Since I'll have to hire a title company to sale the house

**Title companies don't sell houses. Title companies handle the paperwork between the buyer and the seller, but they do not give legal advice. They are basically a 3rd disinterested party and they charge for the title policy and the escrow services.**


can they represent me on my best interests with the contract?

**No, as far as the title company is concerned**

Any idea on their fees?

**It goes by the sales price of the home**

Ok.

Thanks of your feedback. One more question for you:
You say that I, as a FSBO, do not have access to MLS. But I have seen many services that offer a flat fee (b/w $299 and $599) to have my house included in MLS. Are these offers not legitemate?

Thanks

[Souix]

Originally posted by sosorio
Ok.

Thanks of your feedback. One more question for you:
You say that I, as a FSBO, do not have access to MLS. But I have seen many services that offer a flat fee (b/w $299 and $599) to have my house included in MLS. Are these offers not legitemate?

Thanks

Is this a Flat Fee Real Estate Company? If so, then yes, that is legal.

Is your house a big investment? I would never in a million years sign contracts regarding property without a lawyer. You want to dot all the i's and cross the t's. It can easily come back to bite you.

[Souix]

This is true, more fsbos are sued that do not use attorneys or realtors than do. The money you think you may be saving today, will be lost if there is a lawsuit against you. Better to be safe than sorry.

Right. I definately see the reassurance of having a lawyer. I just don't see the benefit of a RE agent marketing my home at a 6% rate.

Any ideas on how much would a lawyer charged for just handling the contract?

[Souix]

Originally posted by sosorio
Right. I definately see the reassurance of having a lawyer. I just don't see the benefit of a RE agent marketing my home at a 6% rate.

Any ideas on how much would a lawyer charged for just handling the contract?

***I don't know what a real estate attorney charges in your state, but you can probably do a search on this site for one to ask how much they charge.

****The realtor fee of 6% is full service, marketing plus paperwork....imo its worth it because most attorneys do not sell or market real estate.

Good Luck to you anyway

[HomeGuru]

Legal fees could range from $300-1000 to review a real estate sales contract.

[Erik2003]

[URL=http://www.isoldmyhouse.com]I Sold My House Dot Com[/URL]

[HomeGuru]

Originally posted by Erik2003
[URL=http://www.isoldmyhouse.com]I Sold My House Dot Com[/URL]

**A: what is the purpose of the link? It is more like advertising. This website does not allow free advertising.

[Erik2003]

Sorry. It was just an example of a low cost FSBO option that could be the type of service the writer may want to consider. I am not affiliated, nor did I intend to promote any particular service.