Luisa Celis

 

Or Saving the Realtor's Commission

There is nothing to stop you from selling your home yourself. It would save you the realtor's commission, and you would get to keep all the money, right? Probably not.

But it isn't only about the money. Or is it? I guess it comes down to it, if you get sued for non-disclosure of latent defects or for misrepresentation. That is one of the things that a realtor will help you relieve yourself from: liability.

Beyond the widely spoken truths that when you sell your own home it doesn't get the same exposure and that you have to let into your privacy every stranger that comes knocking at your door, there is the fact that the the whole real estate business has become so complicated that nowadays you almost need to be or hire a professional to deal with all the legal intricacies and perils of a simple transaction.

If you decide to do it on your own, you need to look for a lawyer to prepare all the papers for you and to keep you safe. It is best to find a realtor that would offer to give you a Property Disclosure Statement, a form that you can make part of the contract and that would go a long way in saving you harmless from future lawsuits regarding disclosure. Make sure your lawyer puts all the appropriate clauses into the contract to save you harmless and make the buyer responsible of satisfying him/herself about the condition of the property in its legal as well as in its physical condition.

Also, keep in mind that people who buy directly from owners are probably also thinking about saving the realtor's commission. Moreover, investors always seek out For Sale By Owners because they know that money in hand makes a lot of weary owners drop the price, just to end the misery of staying home every weekend, answering endless phone calls, letting snoopers into the sanctity of their home, without even going into the nightmare of contracts.

And, before you even start, prepare yourself mentally to negotiate with hardball buyers and stage your home!

Good luck!

Luisa Maria Celis