You’re not alone when you sell by owner. Just as you would when you sell with an agent, you’ll need to rely on the expertise of these three key experts.
Who’s on your team will be determined by where you live. Generally speaking, real estate transactions west of the Mississippi are handled by title companies. East of the Mississippi, real estate attorneys traditionally handle the closing paperwork.
It’s important to have an attorney review the contract regardless of where you live. You can also rely on your attorney to coach you through negotiations.
- Prequalifies buyers so you don’t waste time on those who can’t afford your house. Sort the solid prospects from the tourists by requesting proof that they can afford to buy your house.
- Prepares several financing highlights for your listing sheet, such as estimated monthly payments at current interest rates.
- Supplies information about state and federal loan programs that might appeal to buyers, such as FHA and workforce housing programs.
Real Estate Attorney and/or Title Company
- Attorney: Coaches you through negotiations
- Attorney: Reviews your contract for flaws and loopholes
- Title Company/Attorney: Provides a checklist of documents required for closing and a timeline
- Title Company/Attorney: Coordinates the closing with the lender and buyer’s legal representative
- Equips you with a current analysis of your home’s value so you can set a reasonable price
- A cornerstone for negotiating with buyers, the appraisal provides the most credible evidence of the value of your house