Taking the tiger by the tail selling For Sale By Owner may work out and save you a little bit of money.  But before you do, make sure you are comfortable risking the dangers and pitfalls of doing so.

 Here are some things to consider for your protection.

 The Breakdown:

 Many say they have a hard time paying “all that commission” for the sale of their home. However, upon closer evaluation, the 6% commission generally breaks down as follows:

 Commission is split fifty/fifty by the selling and purchasing agent.   If another Realtor has buyers that wish to purchase your home, you would still be bound to paying that agent’s 3% commission in order to get his buyers.  A Selling Agent has an agreement with his or her brokerage who may require up to half of that commission, and this is even before getting to your Agents out of pocket costs.

 The Dangers:

 Everyone knows there are dozens of forms required in most Real Estate Offers to Purchase.  Your Jacksonville Real Estate agent knows what all of these items are and will not miss any of the vital documents necessary.  With changes in the laws occurring with regularity, a seasoned real estate agent will be up on the latest requirements to make the entire transaction legal.  Attempting to take an online crash-course in knowledge necessary to complete the sale may leave you missing many State or Federal required documents. You then risk being sued for any issues regarding this property for an undetermined amount of time.  An attorney may be retained to look paperwork over, but the cost often eats into the savings, defeating the purpose of what your Realtor provides for free!

 In the listing contractual agreement you sign with a brokerage, you will often find that if something goes wrong regarding the sale or the property transacted, the Real Estate Brokerage has attorneys representing them and may subsequently cover you in case of suit.

The Advice

 If you desire to sell on your own it still may behoove you to speak with a real estate agent. Many Realty companies may offer assistance if you let them know what your plans are.  They may keep an eye on you and give you some tips and knowing should you not sell as planned, you will be calling on their services.

Posted by Carey Frankel on

Tags

Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.