How to sell your home using For Sale by Owner
For Sale by Owner is also known as a FSBO. Once you find a buyer, you will need an attorney to prepare a Contract for Sale and Purchase.
Mike: My wife and I are considering selling our home come springtime and we've been fortunate enough to live in an area of town that the market is super-hot and people put their homes up for sale. Within one or two days have gotten offers, in some cases even over the asking price.
Attorney Tom Olsen: Okay, so you're thinking about doing a for sale by owner, Mike?
Mike: Yes sir, to me if that's the case, assuming that the market stays hot, to pay a percentage to a real estate agent, and I'm not saying they don't do good work, but seems like a lot of money.
Attorney Tom Olsen: Mike, I know where you're going from here because I can see it was written down, so Mike, if you do a for sale by owner and if you find your own buyer, then Mike, I can do everything else for you. It's going to start with a contract for sale and purchase. It's signed by the buyer and seller, that way we know we have a meeting of the minds. Once a contract is signed, your buyer goes out and starts looking for financing.
Once your financing is approved, it's time to have a closing where documents and money exchange hands. I have a title company that can help you out with this one, Mike. If you find your own buyer, you can do it yourself. Mike, I've got a form for you that going to help you when you find a buyer. Mike, if you contact my office next week, I'd be happy to email that offer to purchase form to you that will assist you with your for sale by owner. Mike, email me through our web site, that is lawtube.com, like YouTube, but lawtube.com