Selling a home without a realtor - ProTeacher Community




      
Home Join Now Search My Favorites
Help


      Teachers' Lounge


Selling a home without a realtor

>

Reply
 
Thread Tools
wildflowerz's Avatar
wildflowerz wildflowerz is offline
 
Joined: Jun 2012
Posts: 7,574
Senior Member

wildflowerz
 
wildflowerz's Avatar
 
Joined: Jun 2012
Posts: 7,574
Senior Member
Selling a home without a realtor
Old 04-15-2018, 09:56 AM
  #1

I need any advice or wisdom you have.

Personally, I like realtors and appreciate that they know much more than I do about selling homes. For the second time in two weeks I’ve been approached by people offering to buy my house. We are in a hot neighborhood and one neighbor recently had multiple offers and sold in one day.

We weren’t going to sell until the end of the year but my neighbor wants to buy the place so we are considering his offer. Without a 6% commission he could get a good deal. He wants to buy sooner than later because interest rates will probably go up. We could sell it then rent from him until we move.

Has anyone ever done a private home sale? I told dh that we should, at the very least, get an attorney to help facilitate the processs. He doesn’t think we need to.

Thoughts, advice?


wildflowerz is offline   Reply With Quote

kahluablast's Avatar
kahluablast kahluablast is online now
 
Joined: Aug 2008
Posts: 22,874
Senior Member

kahluablast
 
kahluablast's Avatar
 
Joined: Aug 2008
Posts: 22,874
Senior Member

Old 04-15-2018, 10:04 AM
  #2

We did a very similar thing when we sold our last home in California. The title company does most of the work, so it wasn't hard at all. Everything was straight forward and easy. We did not have a lawyer or broker working with us.
kahluablast is online now   Reply With Quote
Tiffany's Avatar
Tiffany Tiffany is offline
 
Joined: Oct 2005
Posts: 2,329
Senior Member

Tiffany
 
Tiffany's Avatar
 
Joined: Oct 2005
Posts: 2,329
Senior Member
No realtor
Old 04-15-2018, 12:26 PM
  #3

We sold our house without a realtor but we did hire a lawyer. There is a lot of paperwork that goes along with selling a house and we wanted to make sure everything was legal.
Tiffany is offline   Reply With Quote
TAOEP TAOEP is offline
 
Joined: Feb 2017
Posts: 3,341
Senior Member

TAOEP
 
Joined: Feb 2017
Posts: 3,341
Senior Member
Realtor and/or lawyer
Old 04-15-2018, 01:03 PM
  #4

First, are you really OK with selling and moving now? If not, especially in a hot area, just wait until you are ready. Yes, there is something of a gamble that the market will continue to be good. Not only that, but why is the neighbor assuming that if you don't use a realtor that he is the one who will benefit rather than you. Your neighbor is looking out for himself (as we all do).

Second, do you want/need the help of a realtor to help ensure that the price is right if you are selling to a neighbor? Additionally, if there are multiple offers you may be able to sell for more than your listing price. That is unlikely to happen without a realtor. If you already have an offer, you may be able to work with a realtor for a lower rate than is usual. You can always ask.

I definitely favor using an attorney. I'd say it's especially important if you don't use a realtor because without either a realtor or an attorney, you won't have a professional watching out for your interests.
TAOEP is offline   Reply With Quote
learnforever learnforever is offline
 
Joined: Jul 2010
Posts: 504
Senior Member

learnforever
 
Joined: Jul 2010
Posts: 504
Senior Member
So many disclosures now
Old 04-15-2018, 02:19 PM
  #5

There are so many legal disclosures now that are required in most states. Mold, crime, sex offender, earthquake or other, previous floods or leaks etc. You can be held legally responsible if the correct papers have not been signed. Who knows...there might be a buyer who is willing to pay more than your neighbor who is looking for a good deal from you. Have you home appraised, inspected for repairs, and go look at other properties you can afford before you do a “hand shake” no realtor deal with your neighbor. The only one who looks out after you is “You”.


learnforever is offline   Reply With Quote
chronicfun's Avatar
chronicfun chronicfun is offline
 
Joined: Aug 2007
Posts: 10,125
Senior Member

chronicfun
 
chronicfun's Avatar
 
Joined: Aug 2007
Posts: 10,125
Senior Member
You can do it
Old 04-15-2018, 02:31 PM
  #6

But I would highly recommend getting a lawyer involved if you don't have a realtor involved. I've been involved in selling 3 houses for sale by owner. I either had a lawyer or a realtor who only charged a couple hundred bucks to draw up paperwork/cover bases. (But that was 10 years ago)

I would check online sites like Realtor.com, Zillow, etc....to check out comparable homes and what they are SELLING for, not what they are asking. I know on zillow you can pull up recently sold homes and see what they sold for. Going back 6 months is considered current.

Good luck with whatever you choose to do!
chronicfun is offline   Reply With Quote
juliet4's Avatar
juliet4 juliet4 is offline
 
Joined: Aug 2006
Posts: 3,346
Senior Member

juliet4
 
juliet4's Avatar
 
Joined: Aug 2006
Posts: 3,346
Senior Member
No realtor
Old 04-15-2018, 03:54 PM
  #7

Just get an analysis of home value or hire an appraiser. Definately a lawyer...so much cheaper than forking over that 6 percent!
juliet4 is offline   Reply With Quote
linda2671's Avatar
linda2671 linda2671 is offline
 
Joined: Jul 2006
Posts: 26,449
Senior Member

linda2671
 
linda2671's Avatar
 
Joined: Jul 2006
Posts: 26,449
Senior Member
We sold one without a realtor.
Old 04-15-2018, 04:18 PM
  #8

It's been 40 years though, so I doubt I'm much help. We were getting ready to put our house up for sale, and had some friends over for dinner. We mentioned that we were putting our house up for sale the next day. They said, "You're selling your house?" We gave them the tour, and they bought it. It was quick and easy. There are probably more regulations now.
linda2671 is offline   Reply With Quote

Join the conversation! Post as a guest or become a member today. New members welcome!

Reply

 

>
Teachers' Lounge
Thread Tools




Sign Up Now

Sign Up FREE | ProTeacher Help | BusyBoard

All times are GMT -8. The time now is 07:43 AM.

Copyright © 2019 ProTeacher®
For individual use only. Do not copy, reproduce or transmit.
source: www.proteacher.net
7