For Sale by Owner
If you choose to sell your home without paying fees to a real estate agent, that’s called a For Sale by Owner (FSBO) sale. There are a lot of advantages to selling your home this way, but you also need to do a lot more of the legwork for your home sale yourself. At Jordan & White, we can help you understand the FSBO process in Massachusetts, including how to prepare to sell your home and why it’s important to have an experienced real estate lawyer on your side.
How to Prepare for a FSBO Home Sale
Selling your home FSBO means doing a lot of the work that a real estate agent normally does for you. While every home sale is different, there are a few universal tips to keep in mind.
Get Your Home Inspected Early
Buyers and sellers both benefit from early home inspections. Whether you use a real estate agent or you sell your home FSBO, it’s worth it to invest in a thorough home inspection before you create your listing. Resolve any problems the inspector discovers before they become issues for potential buyers.
Choose the Right Asking Price
One of the major risks of a FSBO sale is setting the wrong price for your home. If you set your home price too low, you won’t make money on the sale. If you set it too high, you won’t see any offers.
Know What Paperwork You Need
When selling your home FSBO, you will need to keep track of:
- Filling out disclosure forms and other legal paperwork
- Getting your home listed on a multiple listing service (MLS)
- Pre-qualifying potential buyers
- Managing the offer forms and Order to Purchase
At Jordan & White, we have years of experience with Massachusetts real estate and can help you navigate the FSBO process to set up inspections, set the right asking price, and assemble the necessary documents.
What Makes FSBO Real Estate Transactions in Massachusetts Unique?
Selling a home in Massachusetts brings some added steps compared to other states. In particular, at least one real estate attorney must be involved in every real estate transaction in the state. The sooner you bring one into the process, the more smoothly it will go.
Should You Sell Your Home FSBO?
For Sale by Owner home sales come with a lot of advantages. You retain total control over your listing, including the asking price and even the dates of open houses. You know your home best, so you’ll be able to focus on its unique selling points where a real estate agent may not have time to learn these.
Conversely, some potential buyers may see FSBO listings as an “easy mark” and underbid on your home. FSBO listings can also take more time to complete, and some buyers’ agents will steer potential buyers away from them.
Contact a Knowledgeable Real Estate Attorney Serving the North Shore of Massachusetts
Are you still unsure whether a For Sale by Owner listing is right for you? Jordan & White is proud to provide years of experience in real estate law to the people of Massachusetts. Call us today at (978) 744-2811 to schedule your consultation.