Some homeowners prefer to sell their home by themselves and not use a realtor. You will need to accurately price your home and as Seller will have do the tasks a realtor does in order to sell a home. You have to show your property to prospective Buyers, get all necessary permits and certifications prior to closing, and be available for inspections and the walk through for the Buyer.
The Law Firm of Jay A. Weinberg handles For Sale By Owner transactions and will help you in ensuring a smooth closing of your sale or purchase.
A real estate transaction without a realtor follows the steps I’ve outlined in buying or selling a home. Here are additional guidelines on how to go about a real estate transaction without a realtor:
- Intent to Purchase
During your open house, you may provide the prospective Buyers with an offer sheet or Intent to Purchase form. We can provide you with this form when you contact us. This will give the prospective Buyers a chance to offer a purchase price if different from your asking rate. You are not locked in to the amount stated on the Intent to Purchase form; it is not a Contract.
- Contract Formation
We will draft a Contract for you, as Seller or Buyer. The three-day attorney review period does not apply if the Contract is drafted by an attorney. It is advised the buyer seek the advice of an attorney to ensure the buyer is truly interested in buying your home pursuant to the terms of the Contract. It is best for you that the buyer is informed and certain they want to go through with the transaction.
- Inspection / Walk-Through
If there is no realtor involved, the Buyer and Seller have to set up the inspection and walk-through. The Seller should be present at the inspection and at the walk through.
- Certificate of Occupancy / Smoke Detector Certificate
Typically, the realtor gets all necessary documents the town requires to transfer real property, more commonly the Certificate of Occupancy and/or Smoke Detector Certificate. Since there is no realtor, it is the Seller’s responsibility to provide these documents to the Buyer at closing. We will work with you to obtain all required documents for closing.