Timeline suggestions for a For Sale By Owner?

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Contributor

We have been fortunate enough to find a buyer for our home before we even contacted a realtor to sell our home this summer when I retire from the Army and are very interested in do a For Sale By Owner because it will save us a significant amount of money. The Buyer is a USAA Member and intents to finance through USAA like we did. I have tried to call for suggestions on how to proceed but keep getting referred to the lender and the lender says they don't know either. We did go to one of the websites that USAA recommended to get a For Sale By Owner packet of legal documents but information about a timeline just eludes us. At what point do we contact the Title Company (how many days backwards planning from the closing date).. etc. If anyone has suggestions please reply here, I have elected to have the forum email me when there are responses. Thank you very much.

8 REPLIES

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My town home near Ft Rucker is up for sale by owner. I spoke with a Title Company and it is a good idea to get them involved early. I would suggest for you, since you have an interested buyer, to go ahead and contact one.They will be able to walk you through the process of what you need. If you only want them to handle a little bit of the closing by just filing the paperwork or if you want they can set up the paperwork, handle the signing and everything else they normally do if a real estate agent is present.
Great that you have a buyer! Although I always recommend a license realestate agent to write the contracts for you and the buyer. The process of buying a home is very stressful for a buyer. Since you already have a buyer just work out a lower commission for the agent. Believe me its worth it. If you need anything just give me a call with any questions. Marquand Price Coldwell Banker TEC New Orleans, LA 5043074844
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My suggestion to you would be to get a Real Estate Attorney involved. I sold my house when I was stationed at Langley AFB, VA several years ago and used a real estate attorney who handled all the closing requirements to include title services. By the way, many of the title companies have relationships with local real estate attorneys and/or are owned by real estate attorneys themselves. I found the process to be very easy and without any major hiccups.
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Thanks for the replies. To close the loop on this - we contacted the title company that did the closing and they did a majority of the work for us. I hate to say it but it really made me wonder what a Realtor actually does besides bring a buyer and seller together. The closing went without any issues. Thanks again!
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We too have completed a sale and a purchase very successfully by working with a good real estate attorney. Only had one hiccup on one sale, and it was covered by the Buyer's Title Insurance we bought. Remember the title insurance the buyer usually pays for only covers the lender. For very little money, you can buy a title insurance policy that covers you - a must in my book.
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Your discussion of your situation was very helpful. Thanks for sharing your info, and thank you very much for the people that responded back for you. They seem to have given you sound advice and good info. that has helped me make some descisions. Thank Y'all. Good luck to all of you!
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I am in the process of directly buying my home  w/out a Realtor and I'm working with a attorney in MD who will handle everything.  Now I have to sell my house near the beach in Delaware.  I have it listed with a Realtor (my second one); wish me luck.

 

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Good Luck blisp! Keep us posted on how everything goes!