You might be wondering, "Why would a Realtor be giving me advice how to sell FSBO?" Well in some cases, this might be a good option to keep more money in your pocket when you get to the closing table. Prior to becoming a Realtor I successfully purchased and sold homes FSBO, saving me lots of money. Here are some tips if you are going to try and sell on your own:
After finding a buyer it's not always smooth sailing to the closing table. When I purchased a FSBO this is the time we ran into some issues, and the title company does not give legal and contract advice. The under contract phase of the selling process can be where you get the most value using an agent to help you. If the buyer has an agent working for them they will fill out the appropriate paperwork with an offer to you. However, the buyers' agent is working in the buyer's best interest, not yours. If the buyer you found does not have an agent many sellers and buyers are left asking, "What do we do now?" You will need a Purchase Agreement spelling out all the details and deadlines of the purchase between the buyer and seller. There are many aspects of the deal that take place after the home is under contract, such as seller disclosures, lead based paint disclosures, inspections, appraisals, buyer financing deadlines, deed type, title insurance, and other contingencies. You can find some Indiana specific Purchase Agreements on Google (that's what I did at the time), but free documents on Google are not always the best. Since the title companies usually will not give legal and contract advice, you might have to hire an attorney or a Realtor to help you with your paperwork if your deal becomes more complex then you expected.
Below are few FSBO issues that come up during the selling process and when your home is under contract: