Hello...I was wondering if anyone knew once all is said and done on average how much the lawyer fees usually are for a $200,000 home if you sell it for sale by owner? I understand there will be costs for our advertising, and we did buy our home going through for sale by owner but we don't recall what the costs were to the seller? Thanks for your time and any info is appreciated. If it makes a difference we reside in PA. ThanksHow much are does it cost to sell your home for sale by owner?
Same as selling through a Realtor minus the Realtors commission. Lawyers in my area charge a flat rate plus extra charges if there are complications. They do not charge based on the value of the property. It may be different in your area.
Good for you selling privately. You can save enough to pay the lawyer and still have lots left over to apply to your next property. Most people do not realize that you do not need a Realtor. If your in a hot market I always advise to sell privately. Who needs a Realtor when there are people already banging on your door.How much are does it cost to sell your home for sale by owner?
The Buy My Place website is a good tool that provides great for sale by owner tips and information. It allows you to sell your house online without spending a fortune on real estate agent fees.
www.buymyplace.com.au
Report Abuse
HouseSell.com.au is the cheapest and best way to sell your own home. It's free, quick and simple. There is no advertising or business model.
Check out the new integrated streetview application for a new way to sell your house.
http://www.housesell.com.au
Report Abuse
I bought my house for sale by owner and it didnt cost us or the sellers anything, but the normal closing costs. My Mortgage broker took care of all the paper work and contracts. It was really easy.
agreement negotiated amount...7% usually
The FSBO book or website tells you that. This can be a major pain though.
if you don't know exactly what you're doing it could cost very dearly
If you have time to do most (not all) of the following 184 steps that a professional real estate professional does then you are in good shape to do it on you own! Just remember to be available to buyers 7 days a week from 9 a.m. to 9 p.m.
1. Make appointment with seller for listing presentation.
2. Send seller a written or e-mail confirmation of listing appointment and call to confirm.
3. Review pre-appointment questions.
4. Research all comparable currently listed properties.
5. Research sales activity for past 18 months from MLS and public records databases.
6. Research “Average Days on Market” for this property of this type, price range and location.
7. Download and review property tax roll information.
8. Prepare “Comparable Market Analysis” (CMA) to establish fair market value.
9. Obtain copy of subdivision plat/complex lay-out.
10. Research property’s ownership and deed type.
11. Research property’s public record information for lot size and dimensions.
12. Research and verify legal description.
13. Research property’s land use coding and deed restrictions.
14. Research property’s current use and zoning.
15. Verify legal names of owner(s) in county’s public property records.
16. Prepare listing presentation package with above materials and HomeTrack™ information.
17. Perform exterior “Curb Appeal Assessment” of subject property.
18. Compile and assemble formal file on property.
19. Confirm current public schools and explain impact of schools on market value.
20. Review listing appointment checklist to ensure that all steps and actions have been completed.
Listing Appointment Presentation
21. Give seller an overview of current market conditions and projections.
22. Review agent’s and company’s credentials and accomplishments in the market.
23. Present company’s profile and position or “niche” in the marketplace.
24. Present CMA results to seller, including comparables, solds, current listings and expireds.
25. Offer pricing strategy based on professional judgment and interpretation of current market
conditions.
26. Discuss goals with seller to market effectively.
27. Explain market power and benefits of Multiple Listing Service.
28. Explain market power of HomeTrack™, IDX, and Realtor.com.
29. Explain the work the brokerage and agent do “behind the scenes” and agent’s availability on
weekends.
30. Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity
seekers.
31. Present and discuss strategic master marketing plan.
32. Explain different agency relationships and determine seller’s preference.
33. Review and explain all clauses in Listing Contract and Addendum and obtain seller’s signature.
Once Property is Under Listing Agreement
34. Review current title information.
35. Measure overall and heated square footage.
36. Measure interior room sizes.
37. Confirm lot size via owner’s copy of certified survey, if available.
38. Note any and all unrecorded property lines, agreements, easements.
39. Obtain house plans, if applicable and available.
40. Review house plans and make copy.
41. Order plat map for retention in property’s listing file.
42. Prepare showing instructions for buyers’ agents and agree on showing time window with seller.
43. Obtain current mortgage loan(s) information: companies and loan account numbers.
44. Verify current loan information with lender(s).
45. Check assumability of loan(s) and any special requirements.
46. Discuss possible buyer financing alternatives and options with seller.
47. Review current appraisal, if available.
48. Identify Home Owner Association manager, if applicable.
49. Verify Home Owner Association fees with manager: mandatory or optional and current annual fee .
50. Order copy of Homeowner Association bylaws, if applicable.
51. Research electricity availability and supplier’s name and phone number.
52. Calculate average utility usage from last 12 months of bills.
53. Research and verify city sewer/septic tank system.
54. Water system: calculate average water fees or rates from last 12 months of bills.
55. Well water: confirm well status, depth and output from well report.
56. Natural gas: research/verify availability and supplier’s name and phone number.
57. Verify security system, current term of service and whether owned or leased.
58. Verify if seller has transferable Termite Bond.
59. Ascertain need for lead-based paint disclosure.
60. Prepare detailed list of property amenities and assess market impact.
61. Prepare detailed list of property’s “Inclusions and Conveyances with Sale.”
62. Compile list of completed repairs and maintenance items.
63. Send “Vacancy Checklist” to seller if property is vacant.
64. Explain benefits of home owner warranty to seller.
65. Assist sellers with completion and submission of home owner warranty application.
66. When received, place home owner warranty in property file for conveyance at time of sale.
67. Have extra key made for lockbox.
68. Verify if property has rental units involved. And, if so:
69. make copies of all leases for retention in listing file.
70. verify all rents and deposits.
71. inform tenants of listing and discuss how showings will be handled.
72. Arrange for installation of yard sign.
73. Assist seller with completion of Seller’s Disclosure form.
74. “New Listing Checklist” completed.
75. Review results of curb appeal assessment with seller and provide suggestions to improve salability.
76. Review results of interior décor assessment and suggest changes to shorten time on market.
77. Assign HomeTrack™ login and password for sellers to check progress.
Entering Property in Multiple Listing Service Database
78. Prepare MLS Profile Sheet — agent is responsible for “quality control” and accuracy of listing data.
79. Enter property data from profile sheet into MLS listing database.
80. Proofread MLS database listing for accuracy, including proper placement in mapping function.
81. Add property to company’s active listings list.
82. Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48
hours.
83. Take additional photos for upload into MLS and use in flyers. Discuss efficacy of panoramic
photography.
Marketing the Listing
84. Create print and Internet ads with seller’s input.
85. Coordinate showings with owners, tenants, and other Realtors®. Return all calls, weekends
included.
86. Install electronic lock box if authorized by owner and program with agreed-upon showing time
windows.
87. Prepare mailing and contact list.
88. Generate mail-merge letters to contact list.
89. Order “Just Listed” labels and reports.
90. Prepare flyers and feedback faxes.
91. Review comparable MLS listings regularly to ensure property remains competitive in price, terms,
conditions and availability.
92. Prepare property marketing brochure for seller’s review.
93. Arrange for printing or copying of supply of marketing brochures or fliers.
94. Place marketing brochures in all company agent mail boxes.
95. Upload listing to company and agent Internet site, if applicable.
96. Mail Out “Just Listed” notice to all neighborhood residents.
97. Advise network referral program of listing.
98. Provide marketing data to buyers coming through international relocation networks.
99. Provide marketing data to buyers coming from referral network.
100. Provide “Special Feature” cards for marketing, if applicable.
101. Submit ads to company's participating Internet real estate sites.
102. Price changes conveyed promptly to all Internet groups.
103. Reprint/supply brochures promptly, as needed.
104. Loan information reviewed and updated in MLS as required.
105. Feedback e-mails/faxes sent to buyers’ agents after showings.
106. Review weekly Market Study.
107. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale.
108. Place regular weekly update calls to seller to discuss marketing and pricing.
109. Promptly enter price changes in MLS listing database.
The Offer and Contract
110. Receive and review all offer to purchase contracts submitted by buyers or buyers' agents.
111. Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes.
112. Counsel seller on offers. Explain merits and weakness of each component of each offer.
113. Contact buyers’ agents to review buyer’s qualifications and discuss offer.
114. Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible.
115. Confirm buyer is pre-qualified by calling loan officer.
116. Obtain pre-qualification letter on buyer from loan officer.
117. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date.
118. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent.
119. Fax copies of contract and all addendums to closing attorney or title company.
120. When an Offer to Purchase Contract is accepted and signed by seller, deliver signed offer to buyer’s
agent.
121. Record and promptly deposit buyer’s earnest money in escrow account.
122. Disseminate “Under-Contract Showing Restrictions” as seller requests.
123. Deliver copies of fully signed Offer to Purchase Contract to seller.
124. Fax/deliver copies of Offer to Purchase Contract to selling agent.
125. Fax copies of Offer to Purchase Contract to lender.
126. Provide copies of signed Offer to Purchase Contract for office file.
127. Advise seller in handling additional offers to purchase submitted between contract and closing.
128. Change status in MLS to “Sale Pending.”
129. Update HomeTrack™ to show “Sale Pending.”
130. Review buyer’s credit report results — advise seller of worst and best case scenar
