I would like to work directly with sellers when purchasing a property, or selling (this is in reference to sellers who are not currently working with an agent and may not even have their house on the market).
What's the best way to get the various documents needed for a real estate transaction? Should an attorney be involved in every transaction? I'm also concerned about potentially overlooking legal responsibilities, for instance, I think in my state the seller needs to provide a property disclosure within 10 days of going under contract, though maybe that doesn't apply to fsbo?
@Hen Ley There are lots of forms you can get from BP website under tools. You'll have to work with a title company regardless of using an agent. I would find a title company you want to work with and ask them if they happen to have a checklist for FSBO and any forms you can use. An attorney involved is going to depend on the state that your in if it required or not.
Also look into using a Transaction Coordinator - they have access to all the documents required, have systems in place for tracking everything, and will basically drive the transaction (many are agents/brokers themselves).
Note that they won't negotiate on your behalf or give you advice, but they can explain options. The cost is ~$450 (in California). When we have sellers doing flat fee mls listings, we always recommend using one. I am a broker and have access to the documents, but I still use one when representing investors on purchases.
Best of luck on purchase!
@Jon Minerick , thanks so much for the insight!
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