Real Estate For Sale By Owner Knowledge Base
Real Estate Contract Question / FOR SALE BY OWNER? We have an offer to sell our house for sale for sale by owner (no real estate agent). The first time we bought our house we did the same. Except we didnt put any earnest money down. This time I am requiring earnest money. Anyway,,, I need to know where I can find some basic free contracts to purchase real estate. THANKS!
What are some websites to advertise real estate as For Sale By Owner? The cheaper, the better! Thank you for all the help you can give me...in up-north, Michigan! Thanks! I guess the biggest fear in using a realtor is the market. Many houses in the area are selling for something like $20,000 less than their asking price. If such a hit is taken, it would not be affordable to pay a realtor at all. The MLS listing idea is great! What exact websites would we go to, to go about doing that?
Foreclosed homes & For Sale by Owner homes - Real Estate Agents Welcome? My husband and I have had our eye on a house that is a foreclosed home. This house is being represented by several local real estate companies. My husband and I went to the bank to inquire about the procedures that need to be done to get a loan. I am a student (college) and he works. He has been with his job for a little over a year and has all the check stubs to prove it. The bank said that until I get a job, it would be impossible for them to loan anything to me but they did consider him. They ran his credit and found an outstanding hospital bill he was unaware that still existed (we plan to make payments). Therefore, they told us that they could not help us unless we had someone that could get the loan and purchase the house in their name. Meanwhile, the person who purchases the house (with the bank loan) could be selling it to us and after a year of responsible verifiable payments (receipts) that we could have the house signed over to us through the bank. Since this house is foreclosed, is there any other way to get this house, such as making payments to the bank that owns this house? As of right now, we have no idea which bank owns this house however, it is not the bank that we use. If we can not do anything to get this home, we are also interested in looking for a house that is “for sale by owner”. What kind of documentation would we need for someone to consider selling their home to us? Are there any certain laws about particular documentation that a seller would have to abide by? We live in Alabama and are first time home buyers.
Is it illegal, in TX, to write a real estate sale contract if you are not a licensed agent or owner? Is it legal, in Texas, for a person who is not a real estate agent or the owner to write a contract for the sale or lease of real property, building, home, etc. I am aware of a person who is neither owner or a licensed real estate agent who has prepared a lease agreement and the wording in the contract has caused the Leasee loss of money and many problems. There is one requirement to be fulfilled by the Lessor that hasn't been fulfilled. Unfortunately, there is not a time factor for this requirement to be completed but from other wording in the contract it could be considered a "contract by assumption". This is a matter that is curcial for a friend and I would GREATLY appreciate and answer as soon as possible. Thank you, jam2735@yahoo.com
Real estate for sale by owner needs help!? I am selling my home for $75,000. If the home does not appraise for the entire value, how should I go about the sale and still keep the selling price the same. If anyone can also be available for any adidtional questions, please leave an email so we can correspond. Thanks for your help!!!
Can u list a home For Sale By Owner FSBO on Yahoo real estate web site? Or what sites do list FSBO for small $$? I'm going to take a big enough hit on the selling price without having to add another 6% or 7% loss paying a realtor. Searching for ways to get the most exposure than just a listing in the Sunday paper. With the market as, is I'm figuring on it may take up to a year to sell.
Real Estate Agent virses For Sale By Owner? I have a piece of commercial real estate that has been listed with 3 different reality company over a period of 3 years. All have failed to produce a lookers let alone a buyer. My location is an off the beaten path western montana, ranching/ tourist community with an in town population of under a1000 people. We have 60-90 days before the bank (an SBA loan) can call the note. Should we yet again change realtor's or should we lower the already rock bottom price, save the commission, lower the price again and give it a whirl our selfs?
We are buyers with a real estate agent helping us, but found a house for sale by owner, how do we move forward? Our real estate agent is fantastic. She has shown us three or four houses over the last three or four months and is patiently working with us at our speed. We think it would be good to be connected with her during the closing, as this is a first time purchase for us and she knows our area really well and is well connected to others in the real estate community, like good home inspectors for the older homes in our community. We do not have any signed contract with her, just some emails back and forth talking about what we are looking for. Soooo, we are looking at a house for sale by owner and if we decide to move forward we are not sure what the protocol would be regarding the agent. Do we just tell the agent that we no longer need help? Or do we pay the agent to represent us at closing? We don't have much money beyond our down payment so this could present a complication for us financially. Do we get a real estate attorney to help us finish? If so, should we get a gift card for our agent and express our appreciation for taking us to see a few houses? Thanks! Thanks for the answers so far, we do not have a written contract, or even a strong verbal agreement with the agent, just an understanding that she knows what we are looking for and sends us daily emails if there is something new on the market. She has only shown us a few houses. We are fairly certain that the seller will not engage a realtor, and we know that others are looking at this property, we'd really like to have it and are trying to be careful to not lose it. Our agent is awesome, based on your feedback I called her and asked how we could move forward if we found a house for sale by owner and she said that she would support us however we like as long as we could make it make sense with the seller. It will work out just fine. Thanks!!
Will my real estate agent still get paid if I found a house for sale by owner that I end up purchasing? We have a real estate agent that has been great, always helpful, willing to go out of his way to help us out. He has shown us multiple houses at whatever time is convenient to us. He has been great and we would recommend him to anyone. However we found a house for sale by owner on our own through craigslist. We want to make an offer on this house, will the real estate agent that has helped us out get paid at all for this? We would feel bad if he got nothing after all the work he has done helping us out.
Real Estate By Owner? When you are buying a house which is for sale by owner and you are an agent/broker, do you need written documentation from the seller?
How do you find property for sale by owner in a county of a state? Looking for acreage plus house/outbuildings in Boundary County Idaho. Other than checking papers and placing an ad, how do you locate them. We have been researching on the internet for a week and can't really zero in on "for sale by owner" sites/ads. The real estate companies want to push the property they list and won't tell you even if they know of any.
decreasing taxed real estate sale gain by decreasing basis? What is basis? What is it in terms of a piece of real estate? I know home improvements can decrease basis, but is realtor fees and closing costs also used to decrease basis? (I'm in an owner occupied residential home, sold prior to 2 year-no capitol gains timeframe) I bought a property for 385K sold for 415K. I paid 30K for realtor fees. Is it basically saying my 30K capitol gain can't be taxed because of my paying 30K in realtor fees decreases my gain to a 0 taxable gain? These are numbers are fictitious, but is the my understanding correct?
What exactly does a real estate "Bill of Sale" mean? I am negotiating the purchase of a home with the current owner. It is for-sale-by-owner. He would like me to sign a conditional Bill of Sale about the purchase price and date, but I don't feel prepared to do this. I am not exactly sure what the Bill of Sale means, and am concerned it will be a legally binding agreement without any recourse for myself. This is in Washington State, US. Thanks for your help.
How do you find the owners of a house that is for sale by a real estate agent...? ... without going through the realtor? There is a house which has been for sale for a couple of years. I want to ask the owners if they would consider renting it out for a year. I tried going through the real estate agent, but he never got back to me. I guess it isn't in his best interest if the owners decide to pull the house off the market? So how else would I be able to find and contact the owners of the house? The house is not occupied at the moment. The owners moved out of town a long time ago.
What is a tax sale for real estate? What does it mean if it says your house taxes are sold at a tax sale, or paid by tax sale? I have a friend renting a house and they looked up the public records and that is what it says for the taxes. Does this mean the owner of the house has not paid their house taxes??? And does anyone know if my freind will end up getting kicked out if they are not paid? Its in the state of IL
What amt is appropriate to pay a realtor when they bring you a buyer & your home is For Sale By Owner? We are selling our house, have advertised in local and regional papers, put it on Yahoo real estate, etc. Over a year ago, we had a real estate agent friend list it for us, but there were no bites. So eight months after her contract expired, we listed it as "for sale by owner". We rec'd a call that she wants to bring a potential buyer to see the house. If our house should sell to this customer, what would be the appropriate amount to pay to the real estate friend - - keeping in mind that we will not be making a killing on the sale of the house in today's market situations.
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How to sell a house for sale by owner? We currently have our house listed through a real estate company. Our contract expires soon. We have possibly found a buyer for our house but they wont be able to move until october. How do we go about selling it ourselves? Do we hire a lawyer? We would be saving about 10,000 in realtor fees and would like to take a cheaper route to sell atm. Can someone provide a step by step process. about how much would it cost? how much approximately is a lawyers fee for this?
Should I sell my house for sale by owner?? There are 3 other houses for sale in the subdivision. We have only lived there 3 months but we are just unhappy and want to move back home. Should I sell it by owner or use a real estate agent. How is the process different??
buying a for sale by owner house - offer letter? I found a for fsbo house to buy and am planning to use a real estate attorney to review or to draw up a contract. My question is about the offer letter. I have financing, and know that title and inspection are the other things I need to worry about after that. The sellers are using a standard offer letter form that they got from office max or whatever, so not much detail. I have heard that you need a real estate attny to look over the purchase and sale agreement but what about the offer? I don't want to leave something giant out of there and then end up regretting it later. Can anyone tell me if there are specific things that I should put in there in addition to the basics that I mentioned above? My listing agent mentioned having stipulations on earnest money, what happens if a timeline is not met for inspection or whatever, etc. I am wondering if there is anything else that I need to worry about...thank you!
Our house is For Sale by Owner. What amount should be given to a realtor that brings us a buying customer? We are selling our house, have advertised in local and regional papers, put it on Yahoo real estate, etc. Over a year ago, we had a real estate agent friend list it for us, but there were no bites. So eight months after her contract expired, we listed it as "for sale by owner". We rec'd a call that she wants to bring a potential buyer to see the house. If our house should sell to this customer, what would be the appropriate amount to pay to the real estate friend - - keeping in mind that we will not be making a killing on the sale of the house in today's market situations.
Where can i find "nothing down" real estate deals in london? In the London area i am looking for investment real estate for sale by investors, or landlords not by owner-occupiers. I am not a speculator looking for "buy to let" investments. I am not looking for "off plan". I am looking for a professional real estate investment broker, someone who works exclusively with investors or to be put on a list where i can be informed of properties for sale by investors which i would be able to buy. Thanks in advance.
Is the home owner responsible for the unpaid real estate tax on foreclosed property? My short sale buyer withdrew their intention to buy my property for the it's been over 5 months now and the lender still have to process my application to sell said property. Now, am facing foreclosure. Am I obligated to pay the real estate tax not covered by the escrow account? By law, what are the other incidental expenses that I have to pay.
How can I list my "For Sale by Owner" property on the MLS? I would like to sell my home myself in a fast-moving neighborhood. But really don't want to pay a real estate agent. Is there a way I can put it on the local MLS for a fee? I'm sure it will sell quickly and I may consider giving the buying agent a commission. But due to the low value of the home, I doubt a listing agent will represent it well or lead buyers to it. I don't want to pay him/her a commission he/she doesn't deserve. I know a listing agent can be beneficial. The problem is there aren't any good ones in my area. I don't need assistance in marketing my property. Most houses for sale like mine aren't featured in the local publications. Agents focus on the expensive houses. Often I see selling agents encourage the sellers to take a low ball offer. I know what my house is worth and what the ones in the area are selling for. I know what I will accept for the house. I know what to disclose about the house as well. Like I said houses in my neighborhood move quickly. The FSBOs go just as fast as the ones listed. Thanks to everyone for their input.
We've been preapproved for a mortgage and found a home for sale by owner, if we choose to put in an offer, our? lender requires that we submit our offer to our real estate lawyer and not submit a good faith deposit right off the bat. The banks are "tight" when dealing with these types of transactions and our broker wants to protect us from losing our money since theirs no realtor involved. How do we work this? Is there a way to negotiate with the seller so they know we are serious (pre approved) however have to follow the lenders rules to receive our mortgage? Any ideas on how to put this concern on the table?
Does anyone know anything about For Sale By Owner home buying in Nebraska? I'm looking to buy my first home from a friend of mine from my church. It's a little house, VERY cheap. He's only asking just over what he put into the house (he remodeled everything, new insulation, drywall etc.). He has it posted as for sale by owner and also through a real estate agent but would rather do it as a for sale by owner because of all the fees for a Realtor. I was wondering if anyone knew some about the process so everything could be legal and we won't have to go through a mess a year down the road if everything isn't taken care of. The real estate agent did offer to help us with all the paper work for basically nothing, which is fantastic but I would still appreciate anyone's advice on other things we'll need to take care of. Inspections have all been done, the appraisal has already been done...now it's the money we have to deal with. Thanks everyone! And yes, I know it would be smarter to go through the real estate agent but my friend would have to pay all the fees and I would like to avoid it if at all possible.
Real Estate? My ex has several rental houses where she is transferring the deed to me per a seperation agreement. She currently has them listed for sale with several real estate agents and has signed seller agrements with the agents. If she signs the deed over to me, do I have to honor the contracts with the real estate agents that she signed? I did not sign them. I would rather sell them "By Owner".
Which is the best way to find sale by owner real estate? Real estate agents even though, they are making very good commission they are not always reliable or ethical so we are trying to find sale by owner properties. Which is the best way to find those? I know about craigslist but what are other options?
Real Estate Short Sale - should owner sign a Land Trust and Limited Power of Attorney? A friend and her ex-husband are on a mortgage together for home that that the husband is trying to do a short sale on to prevent foreclosure. My friend, the wife, was told that she had to go to a Realtor's office and sign some papers so a short sale package could be prepared (on a Saturday). At the Realtor's office she was told to sign a Florida Land Trust and a Limited Power of Attorney so the Realtor or whoever could have control of the property and wouldn't need to bother and call her and also called them Internal Documents and CYA. The office has a sign out front saying "Stop Foreclosure Now". I am concerned that this may be a foreclosure rescue scam. I told her to talk to an attorney before signing any documents, especially the Land Trust. I am afraid she will sign away the house and then still be held responsible for the mortgage. Ex-husband already signed the documents. Is the Land Trust and Limited Power of Attorney routine documents needed for a short sale package to be sent to the lender and/or routine "internal documents" to CYA the Realtor or whoever is really doing this deal? Why the "Limited Power of Attorney" when my friend and the ex-husband still lives in the same city where the house is located? Thank you for all your help!!!
Living estate issues on real estate sale.? My brother and I are named in my parents living estate as owners of their property, though they have a living interest in it as long as they are alive. They now would like to sell the property and we would like them to as well. If left as is we would pay capital gains tax on the sale...can we quit claim our interst in the house and it becomes theirs again?
Texas Real Estate: 2/3rd owner wants to sell, 1/3rd owner doesn't? I recently entered into a contract to purchase a property from someone who inherited the property. After the title work was completed we discovered that a cousin of the Seller owns a 1/3 interest in the property as well. He doesn't want to sell period. The Seller is distressed and wants to get out of the property immediately but the cousin doesn't have the money to buy them out. Is there any way the can force the sale being the majority owner or are the stuck?
Does anyone know anything about Owner Financing as it relates to real estate? Does anyone know anything about owner financing? IS it a better way to go if you have been through a foreclosure? Are there scams that one should look out for when dealing with that kind of thing? Can someone just explain the whole thing to me please and is there a website where one can go to get some info/properties that are up for sale and are using owner financing? thanks guys/gals...
Does it seem like Foreclosed Homes are not in the forefront promoted by the Real Estate Industry? The county I live in has over 6,000 foreclosed homes, yet they seem to try to fetch within 10% of homes for sales by owners (non-distress) and new home communities. Most foreclosed homes I've seen were torn up, ignored, out of date, and simply set aside and not promoted by agents who showed us properties. Is this a trend? Attitude being conveyed to members of the RE Industry? Banks not pressured for cleaning their books (or disinterested in having the homes in good repair & not truly discounting the Buyer because of the inconvenience?) What is your spin on this? Foreclosed homes use to be *desired* by Investors & general Home Buyers alike... 100807 3:40
Short Sale Real Estate Question? I put in an offer for a home up for short sale. It has been on the market around 82 days. Anyway, the bank that would finance me is actually the bank that the owner defaulted on. Does this help me?
real estate SALE BY OWNER? I'M TRYING TO SELL MY TOWNHOUSE ON MY OWN I DON'T WANT A REAL ESTATE AGENT OR AGENCY TO HELP ME AND I WOULD LIKE TO KNOW IF THERE IS SITES OR ANY PLACE I CAN ADVERTISE MY HOME BETTER THEN I HAVE ALREADY HAVE PUT IT IN? OR IF YOU CAN SUGGEST BETTER FORMS OF SELLING MY HOME THANK YOU! I'M IN THE MIAMI-DADE COUNTY ,FLORIDA
How negotiable are real-estate sales? If I'm shopping for a home in the Chicago suburbs, and let's say one is listed at $196,000...how negotiable is that? What will the owner realistically expect to get for that property? Thanks.
MO real estate agent question: How much can I help my mom with property not acting as an agent? I am a licensed real estate agent that is still active in the state of Missouri, but not currently working in real estate. My license is being held by a broker, but I am not actively working at the moment. My mom wants to sell some property that she has which the houses on them are in terrible shape. She is not expecting a huge return on the property and is just planning on selling without use of a real estate agent. How much help am I legally allowed to give her if I am no expecting a commission at all? Can I answer questions about the process and the property to potential buyers? We just want her to advertise for sale by owner. The properties are in terrible condition and she is pretty sure a real estate agent would not want to sell it as is. She is not expecting huge returns, she just wants rid of the property. So no pushing for her to work with a real estate agent (even me, since it would be too much trouble for me to get back into the game since I am going back to school). I would appreciate it if people who actually knew the laws and were not just guessing would answer. I would like serious answers only please. I have no problem disclosing I am an agent actually. Would that be enough as long s I did not get invovled in legal issues and only answered questions? I really cannot talk to my broker about it and that is a long story. Nothing illegal, it is just that I really do not work for him, he is literally just holding my license for me since my previous broker could not just hold it and not make me pay fees.
do I have to have my agent to buy a for sale buy owner home? i have been looking for a house and have a real estate person that i have signed a contract with to show me houses and such, She has not found 1 house for me to look at, she only shows the houses i call her about. I looked by myself at a for sale by owner house yesterday and am ready to make a offer,but she says that we have to pay her her percentage. The seller does not want to deal with agents, just sell her house and avoid commisions. what can or should i do. we did sign a agreemant a wb-36 good for one year.................
Motion to Sell Real Estate (House) in IL? Is anyone familiar with the Illinois court forms that are required to file a Motion to Sale Real Estate (House)? A am a joint owner of a house and would like to file a motion to sale the property instead of paying an attorney to file it.
Suggestions For Sale by Owners? Any good suggestions for a company to Sell my home? For Sale by Owner?Not a real estate agent. I want to sell my home on my own.
Real estate licensed, sell my own house, but selling as owner. Not using brokers name in advertising.? I want to sell my own home. I have a california real estate salesperson license. I will not sell the home using any assistance from my broker. I will not put up any advertising with the broker's name on it. I will simply wear a different hat , which is that of an owner selling my own home. I don't see that the broker will be entitled to a transaction fee / cut. My broker charges a flat transaction fee on any listings that sell. Since I will not be signing a listing agreement, the broker should not get a transaction fee / cut. Otherwise having a license is like getting taxed unfairly by your broker when you sell your own property. Since I pay a subscription to the MLS service.. I will list in the MLS and disclose that this an agent owned property and that it is for sale by owner. Anybody see a problem occuring? My broker said he must charge me the $1,000 transaction fee. "No True." I told him because i, the owner, would not be signing a listing agreement. makes sense? I know i have to disclose that I am an agent .. I made that statement in my question... You are saying if it is in the MLS it is listed... Really... how is that?... there is no listing agreement with myself to sell my own property. Since I subscribe to the MLS, all i have to do is log in and put it in the MLS... The MLS does not ask me to fax them a copy of the listing agreement. Also, there are many services that will put your house in the MLS for a fee. In those case the owner is not signing any listing agreement with an agent or broker but yet they are able to have their home in the MLS. So then why should an agent be unfairly taxed by a broker when they want to simply sell their own home with their own marketing etc. without any assistance, signage or any help of a broker. Should apply the same to agent / owners. Should they be trapped to pay a broker just because they have a r.e. license?
How can I find the last sale price of a piece of real estate? I am in the process of trying to buy a house, but the owner refuses to bring the house up to code, claiming they are losing money on the low price they agreed to sell it to me already. They claim that major work is now up to me, because they are losing almost $15,000 from the previous sale price. How can I tell if they are telling me the truth or not? I have tried looking for sale records online, but can only find records dating back four years. Who should I talk to about this?
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