new to selling without a realtor

[b][/b]Hi there! I guess I am about to post a question that is not quite so new, but as it is my first time, I am going to ask it anyway ::slight_smile:
We are selling a house in Idaho, and we listed it in the paper, and have had our first bite on it. What do we need to do now? We have never sold without a realto, so I have no idea where we even start…anyone want to walk me through it? :-\


I have sold 2 properties before with out a realtor. It’s not that hard. First, you should choose a lawyer or a title company (all depends on what is used in your state). For example my 1st house I sold in CT, you use lawyers always but in Fl. almost everyone uses the title company but you can have a lawyer if you want. Once you have that you can ask them what is the required paperwork for your state. In most cases you will need a good faith disclosure form and a lead paint disclosure form. Those are fairly standard. Then you will need a purchase agreeement. This is where you will stipulate all the aspects of the deal/sale. How much down, what stays, clsing date, etc. You should definately get your lawyer and paperwork in order before you get a buyer. If you seem unsure you can make a buyer very nervous, or if they are a sophisticated investor they may take you for ride. You can also go to your local bookstore and get a book with all the forms.

Either way you will give these forms to your lawyer and then they draft a contract to send over to the buyers lawyer. You also need a lawyer or title comapny because you need a name for the buyer to write there check in escrow. Never ask a buyer to write the check to you or deposit in your account.

Hope this helps!!

well thanks for that… thses things are good to know. we do have the carlton sheets course…i think alot of the forms are on the cd that came with it…

Forget the Carlton Sheets forms, they may not even be legal in your state. Do as was previously posted here and you should be ok. Don’t be pennywise and pound foolish. Get a lawyer to help you. Do you need one-not necessarily if you have experience, but you don’t.

Just my advice

I’m a real estate broker in PA. One thing I would definitely recommend is that you make sure you negotiate only with potential buyers who are financially qualified to buy your property.

To do this, I would recommend that when someone indicates they’re interested in buying, you find out if they’re pre-approved (NOT pre-qualfied). This means that they have started the mortgage application process and have been approved for a mortgage for X$ and the mortgage company would be able to issue a loan commitment once there was a fully-signed purchase contract and the appraisal was done.

If the buyers are not approved, then suggest that they connect with a mortgage company. If they are approved, then ask for a copy of the approval letter.


You should find an agent who is willing to negociate the transaction and handle the paperwork. I have heard that their are agents who will do this for a set fee.

speaking of… today i interviewed a realtor! i asked would she represent me if i found my own house. she said for 1% or 2000$, whatever is higher. i understand that realtors want to make money too but i’d rather pay an attorney to look over the purchase contract and ask the title co. to make sure i have all required docs. for a smaller fee.
just my opinion

My first house i sold myself. granted is was only 35K (yeah it was a dump), but i used a standard contract and wrote an addendum that stated they had to have a lenders financing approval within 3 days and stcuk by this. This helped weed out people wasting my time (it was a cheap house so it was a first home for low income folks). I used a lawyer to proof the contract and then just used my local title company to do the rest and close. It was fairly painless…