I am new to a lot of things real-estate related, but I'm not afraid of a grind. I basically have everything ready to sell my home, except for the part where I have to draft/write the contracts. I'd rather hire an attorney to do this part once someone puts an offer on my home. Any tips or suggestions on how to find an attorney? Any tips any suggestions regarding FSBO is welcome, but I'm currently looking for feedback regarding the "writing contracts" with contingencies, part of it. Thanks in advance, and good luck on all of your financial journeys.
@Kristi Perrotta I am concerned you are looking to save money in the wrong areas of your business. Not all sales agents are created equally, but data suggests the top tier sales agents will achieve a result that exceeds the few percentage points of commission savings you are looking to pocket. You are better served spending the time and resources you are currently allocating to your own FSBO preparation researching and interviewing the top sales agents in your market and ultimately hiring one of them. It will be a much better ROI.
It's great that you are willing to grind, this business requires that type of commitment. However I recommend grinding in other areas of your business such as networking, market research, pursuing acquisition leads etc. Not selling your own home.
As an agent who has worked with FSBO owners on both sides of a transaction, my main question is what is the reason you want to go this route? The data shows that FSBO houses take longer to sell and sell for less (or what you really care about - net less) than using an agent. The main argument FSBO's offer is not wanting to pay a commission, but realtors (usually) make it worth the upfront cost. THe bottom line once it has sold should be what is important.
All that being said, if you have done a lot of transactions and feel comfortable pricing it, staging it, showing it, etc, then it could be a good way to save some money.
Also, most title companies can do the paperwork, OR a buyer's agent that would have access to the state specific forms can do the contract and addenda for you.
You should at least expect to pay a buyer's agent to incentivize them to show your property. But with a FSBO, it is not on the MLS and can be overlooked by buyers.
With such a big transaction, it helps a lot having a professional on your side, advocating for you to make sure you don't miss something that could ruin your bottom line.
@Kristi Perrotta I am concerned you are looking to save money in the wrong areas of your business. Not all sales agents are created equally, but data suggests the top tier sales agents will achieve a result that exceeds the few percentage points of commission savings you are looking to pocket. You are better served spending the time and resources you are currently allocating to your own FSBO preparation researching and interviewing the top sales agents in your market and ultimately hiring one of them. It will be a much better ROI.
It's great that you are willing to grind, this business requires that type of commitment. However I recommend grinding in other areas of your business such as networking, market research, pursuing acquisition leads etc. Not selling your own home.
@Kristi Perrotta Typically the buyer agent will bring you the offer on the California Realtors fill in the blank contract. The good things about this contract are: a) escrow/title are very familiar with it, and b) it contains decades of "lessons learned" in the language.
You can also search for "flat fee" seller agents, who are very familiar with this contract (typically more so than attorneys), or look for a transaction coordinator that works with FSBO. You'll likely save money using those routes over an attorney, and will likely have a smoother tranasction.