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swtgrad_2002 | I am selling my home in California on my own, no realtor. What forms do I need to have the buyer sign? |
The buyer also is not using a realtor. What forms do we need? What is the process? |
 |
 
Leo F
|
I have sold 13 homes in my life and none with the help of a RE agent. It's not that hard. You will need a earnest money agreement and a purchase sales contract and a title company. You and the buyer will sit down and fill out both forms. The earnest money is to show good faith deposit and the buyer will give you a check the amount is up to you. The purchase sales contract states who pays what, what stay in the house and the terms of the contract. Contact a local tile company and they should have all the forms you need, they will also walk you through the process. All RE agents will tell you not to do it, because they want the listing and want your money. It's not that hard. I think all agent are over paid for the work they do. I think they should be paid on the percent of equity and not on the price of the house. What does the price of the house have to do with anything, when it's money owed to a mtg. when it comes to what you have to pay the broker and agent? Go for it, you can do it. |
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Expert Realtor
|
Ok..please don't think I am being disrespectful here, because I'm not...but this is what we call in the industry as the "blind leading the blind".
At minimum, get a Real Estate attorney to draw up the docs for you...if you use them for closing on your next property that you buy, he may actually do it for free or minimal cost.
The biggest challenge you will have, is not knowing if the buyer can actually get loan approval...pre-approval letters are not worth the paper they are written on as they all come with conditions...the question is...can your buyer meet those conditions? This is part of what a Realtor will do for you. Just something to keep in mind.
If you are an unseasoned seller, it's a mistake to do this without at minimum, a RE Attorney. |
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godged
 |
You can get the forms from a title company or any decent office supply store, they are fill in the blank boilerplate forms.
Have a RE attorney look over everything before you sign, this little investment can save you thousands. Remember, it is a litigious society, this person smiling and signing now is the same one that can slap you with a ugly law suit down the road. |
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Kellogg's Fruit Loop
 |
i know you don't want to pay the 6 percent finders fee for an agent, right? so you want to try and sell the house, where you already have a buyer. okay, first go straight to an escrow company with the seller, and they will take care of it for you. it will cost you not as much as a real estate agent. what escrow can do is help with all the paper works necessary for the seller to take over the house. agents don't draft legal documents for you to sell the house, the agent takes you and the buyer to the escrow company where you sign all necessary paperwork, and the escrow company makes sure that the buyer won't back out by making the buyer deposit alot of money. where if the buyer backs out, you collect that money. BUT while in the process of transferring your home to the buyer, if the escrow company finds some kind of problems like unpaid debts that are linked to the home, the buyer can back out, and you would not be able to do nothing. |
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Lindsay O
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Why would you NOT use a Realtor? If its to save money, then your opening yourself up to SO many lawsuits. When dealing with hundreds of thousands of dollars, you want to make sure that you are protected. There are several disclosures that you and the buyer need to sign on top of the contract itself. It is foolish of you to try and do this on your own. Get a Realtor and get representation. Would you go to court and represent yourself? |
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victorlhenryrealestate
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The process is to call a Realtor. You guys are a good example of why Realtors are needed. |
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frankie b
 |
LOL. I laugh because if you do not know what forms to use, I am sure this will never make it to the closing table. You should have started by getting a Realtor, but at this point get a lawyer. All the forms you need are prob available at staples or office max |
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reality
 |
Congratulation, if you have a buyer and you done with your negotiation, you defiantly need a attorney. He will write a contract and all the discloses, he will arrange the closing, he will hold the escrow for earnest money, he will get the payoff if you have a mortgage, and he will follow up buyer with his financing. You just can't do this by your self. I would recommend that buyer will get the attorney , so you transaction will have a happy ending.Good Job!
And Good Luck! |
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Ron B
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If you are not going to use a realtor, at least have a real estate attny draw up the contract for you. Otherwise you are simply asking for some real trouble in the long run.
I have one that I use for special situations. He is very good, and doesn't charge a ton. His name is David Rodriguez, and you can email him at david@rodlaw.com Just tell him Ron from mira mesa sent you. |
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Blue October
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this, to me, is a foolish step.
people can tell you what forms to use...but there is more to the transaction than forms. There is a negotiation, there is an inspection, there is many laws that yu are unaware of , and there is closing....
my advice, unless you are skilled in this area---you need to stop and get a licensed real estate agent.
if you do not....then you are possibly looking at problems down the road...what problems? who knows...only a REA will will be able to walk you through without problems.
do you know if there are any liens on this property?
have you done a home inspection survey?
have you done a title search?
i rest my case
good luck :) |
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dual_reality2
 |
With todays litigious population better use a realtor.
When I sold mine I had signed and they signed so many documents and some had to be notorized....I thought I was making a novel. |
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