Why You Should Talk With A Real Estate Attorney When Selling For Sale By Owner
FSBO. Details Below.
Continued from previous page titled Real Estate Advice
41. Aim for a smooth
Often loan schemes will place certain restrictions and
responsibilities on the seller and/or the buyer. It is important to understand what those
restrictions are, because they will affect the mechanics of any transaction. Your banker or
mortgage specialist can advise you on the details of the particular loan your buyer is seeking.
Seek expert advice and you will avoid the usual pitfall and hopefully enjoy a smooth trouble-free
42. Always seek legal advice and talk with a real estate
Don’t rely on friends or family members to give
you accurate legal advice. Always get independent legal advice when buying or selling any
property. Your real estate attorney should be able to guide you safely through a minefield of
legal bits and pieces. He or she will help with the intricacies of writing a contract. They can
explain the implications of certain clauses and why each clause is necessary.
Your legal attorney will show you the correct
way to write a contract so as to protect your rights as the seller. He or she will hopefully
ensure that any such contract is as “water-tight” as it possibly can be without scaring off the
buyer. After all, you don’t want the buyer reneging on the contract... you want the property to
Your legal advisor will also be able to inform
you of specific laws or requirements relating to the state or country where you live. Talk with
a real estate attorney when considering property transactions.
For example, in most states in the USA, Title Companies close most
real estate transactions. A Title Company can be an excellent resource for handling the mechanical
aspects of closing real estate transactions. However, as I understand it, Title Companies cannot
give legal advice to either a buyer or a seller.
Most Title Companies will employ the services of
a real estate attorney who you should speak with. The title company can generally handle the
rest of the transaction, but a real estate attorney is the only one who you should be getting
legal advice from.
As I said earlier, the legal aspects and
ramifications of a real estate transaction can be a minefield for the unwary. Don’t skimp on
getting competent legal advice. ALWAYS, ALWAYS, ALWAYS use a real estate attorney.
43. Be professional
Handle all dealings in a professional manner — everything, from how
you answer the phone, to the way you handle criticism, or how you prepare for an open home. Be
Discuss property transactions with a real estate
Read on for useful tips and ideas on how to
sell a house fsbo.