I have purchased several properties with the assistance of a realtor. Now, I’m considering purchasing a FSBO without the assistance of my realtor.
Can anyone provide a “step-by-step”?
Once we agree on the sales price and create a contract to purchase…then what?
I have a lender, I have down payment cash. I would expect I’d need an inspection to be safe, and obtain the services of a title company to prepare closing and provide title insurance. Anything else I’m missing?
Thanks for your guidance.
that’s about it.
Buying property is not that intensive. If you’ve bought several through a Realtor, then you should know what you have to do in your area to close the deal. There are no changes about how to buy a property except that the agent is not involved.
If you don’t trust yourself yet to close the deal, then I’d suggest that you ask your RE agent to help you through it at a flat rate service fee. If all they are handling is the paperwork (and you’ve done business with them before), then they should be happy to do it for a small set fee.
Raj
Yes, I agree it’s not that intensive, you can get a purchase contract from Staples for about $7. Just make sure you keep your escape clauses like financing or pending home inspection. I think if you paid a realtor $100 they would jump on it for less than an hours work.
You have the title company included in there. We purchased a really rough house in a small town for $1,000 with a warranty deed and we did not have the title company do a search. Well when we went to refinance it they found a problem. $2,000 in attorney fees later we had the problem fixed. I can laugh about it now but when you put $45K into to find out it’s not yours it can be a little scary.
NDI
Dont ya love it when you answer yor own questions ;D