Don't Go It Alone, Buyers, Unless You Want a Huge Homeowner Headache!

I always tell buyers and sellers....how often do you buy or sell a home?  Do you know all the documentation that's required and the law?

Home buyers and sellers need to consider the costs and legal liability issues when selling their own homes!

Suzanne- getting your house sold is just the beginning of all of the work that goes into closing on your home. That's where an experienced professional is a must. 

Most do not realize the legal liability they put themselves into when selling on their own because they don't know the disclosure laws.

I know a couple that got hit for $40,000 in repairs because they didn't know to disclose and the buyer took advantage of that.

Suzanne- Valid points. People can often underestimate how difficult some professions or legal transactions are...

Suzanne -- ahh come on, selling real estate is easy ----- let's see:   paperwork followed by more paperwork and then even more.  Disclosures, disclosures, disclosures.   Legal implications.  Tax implications.   Negotiating before an offer is accepted during the various counter offer stages and the all too common negotiating during the transaction(sometimes it seems never ending).   The questions.  The appraisal.   More questions.   Repairs. Inspections.  Contingencies.   Showings.   Safety.   But wait.....  

Suzanne. Why use an agency when you can do it yourself.     If think the statics are 97 percent of for sale by owners list with real estate agents... Perhaps they could have  got more for their home if they had done this to begin with percent

This is a great topic, Suzanne. Most consumers don't know much about buying and selling real estate, and they should seek the advice of a good real estate professional like Suzanne McLaughlin. 

Suzanne, Yes many buyers still think it is easy as pie. After they buy they find out just how complex it can be.

Suzanne, looks like you have hit a nerve!    Most of my sellers have found that just dealing with the pop in buyers is enough to want someone else to deal with the details. Now I have a buyer right now that is young and energetic, which is great.  But when I asked for the details of the closing cost he was sure any buyer would pay, the answer was ......aah.

Needless to say, he has decided maybe there is a thing or two that might be best handled by a professional. 

Suzanne - Selling or buying a home without representation is a piece of cake. And tomorrow I am going to do my own appendectomy.

I would shudder at the thought of trying to negotiate my own purchase or sale with an expert such as you.  

Suzanne~ With all the information available on the Internet, buyers and sellers believe they are well equipped to handle their own transactions. That's just not the case. There is too much to learn and understand. Hire a professional, be represented. It just makes good sense.

Suzanne, Well the old saying goes a long way here being you get what you pay for. DIY real estate is asking for numerous issues and problems in my opinion.  Here the Realtor or a lawyer writes the contract. Any lawyers fees are way too high frankly! 

Suzanne- you make exctremely valid points. I just closed a home about 3 months ago with a client who bought a for sale by owner- he said he will never do that again- the FSBO was running rampant and thought they could do anything they wanted- like oh- I don't want to sell anymore...  too late- you signed a contract- it only got worse from there...  lol- yes we as agents do hold value!!!