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6 key points to be aware of when considering buying or selling a home privately
So you are considering becoming a FSBO ( aka A For Sale By Owner ).  You think you have enough spare time & it doesn't seem to be that hard, you just throw a sign on the lawn or an ad on kijiji.  Okay! 
A lot of members of the public do not appreciate the value of MLS® system nor that of using a real estate agent & assume that they can either purchase or sell a new home/property easily by themselves.   I can respect the fact they they are willing to try & many ultimate decide to list with an agent.  If you are considering buying or selling your home privately, here are some facts that you should be aware of that could affect the sale from the point of view of your mortgage lender & lawyer:
6 key points to remember regarding private sales:
 
1. Buyer and Seller cannot use the same solicitor or legal office
2. The purchase and sale agreement is required up-front (fully executed)
3. Appraisals are NOT required upfront (we will condition for the appraisal)
4. Full disclosure required in loan notes as to the nature of the relationship (between the  buyer and seller)
5. Copy of ... more

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