The reason most people elect to sell their own home is to save money. Trying to save money is a good thing...but when you could end up in legal hot water because you want to save money...you may need to think twice.
I recently worked an FSBO transaction, and it was no walk in the park! Not because I did all of the work on my own, but because the sellers mistook services I did as a courtesy as representation. Whenever I reminded them that I wasn't their agent, they'd get angry with me. I don't do these types of transactions for the commission...I do it because I love a challenge.
For anyone thinking of selling his or her own home, I commend you. I equate selling a home on your own to defending yourself when you're on trial and you're not an attorney. Unless you have experience, it is not as easy as people seem to think. Selling a home is a full-time job, and there are numerous things going on behind the scenes that people outside of the profession don't know about.
A helpful tidbit (that may not seem so helpful) is to remember that you really are on your own. It's not a 'best of both worlds' type of deal. You don't get to reduce the commission AND have representation. If an agent brings a ready, willing, and able client, YOU are still without an agent. The agent should make sure that you understand the process, and all of the paperwork you sign. Keeping track of deadlines etc. is your responsibility. If you go into the transaction with the knowledge that whenever you need help you have to seek outside counsel, it will save tons of frustration for everyone.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment