Everyone who sells their house is a FSBO. That is, I, as a real estate agent I can not sell your house.
I can market your house, and I can represent your interest, as required by law and the Realtor Code of Ethics, I can bring you a buyer or open the door so other agents can bring you a buyer. I can facilitate the the process of selling your house, from the offer to settlement, I can advise you and help you negotiate with buyers and their agent. But I can't sign your name to the deed transferring it to the new owner.
My point is, when you decide to put a For Sale By Owner sign in front of your house you are on your own. Some of you will even pay a finder's fee to a buyer's agent. That is OK by me, because personally, I love to sell FSBO's. I know what I am doing and I represent the buyer and their interest, I have to honest with you but I am not obligated to advise you when you are making a mistake. So, in this situation, you are paying me to represent the buyer.
I like to refer to FSBO's as UNREPRESENTED SELLERs.
Let me pose some questions to you.
1. Do you know the Federal and State law that require you to disclose certain things about your property to the buyers?
2. Do you know how to handle HOME INSPECTION?
3. What if a buyer makes an offer with a home sell contingency?
4. What about termite inspections?
5. What if a buyer want to back out of the deal after you have a written agreement?
6. Do you have insurance that protects you in case of litigation, after all you are selling the what could be the biggest asset you have.
I can answer yes to all of these questions. Can you, Mr. and Ms. Unrepresented Sellers.
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