Nowadays everyone has seen the signs in the front yard that say “For Sale by Owner Tequesta, FL” but what does this really mean? Is it going to be a legally correct deal for both parties? Does it really save money? The answer to both of these questions is, yes, but it does require a little bit more work from everyone involved.
For Sale by Owner Tequesta, FL means simply that there is not going to be a Realtor involved in the process. The owner will handle everything directly from showing to negotiations. There is a range of about 10-20 percent of homes sold with a For Sale by Owner Tequesta, FL sale and the number goes up and down from year to year.
Why Would You Sell With A For Sale By Owner (FSBO)?
From the seller’s point of view the cost involved with selling this way are greatly reduced. When you deal with a real estate agent the commission cost alone can be between 5-7% of the final sale price of the house. As an example, if you had a home selling for 200K at 5% commission it would be $10,000 in commission fees. If the seller is able to sell their home without the use of a Realtor they would save all of that money.
Why Buy A For Sale by owner Tequesta, FL Home?
From the buyers point of view the process of buying is much the same as long as you are an informed buyer and know what is a good deal and what is not. The one big benefit is that you have direct communication with the person selling the home. Because there is no middle man involved you can call the seller directly without having to deal with a real estate agent as a go-between. This means that buying this way can often take less time than if there is an agent involved.
Things to Think About
For everyone involved it is good to have a team of people helping with the sale even if no agent is directly responsible. Having a real estate lawyer on your side can help a great deal and will typically only cost a couple hundred dollars, but it will be some of the best money you spend in the entire process.
Another thing to keep in mind is the price. As a seller it is easy for you to overprice your house to get the greatest profit on the sale of your home. For the buyer you have to remember that you will have to do more work yourself because there is no one guiding the process.
Buying or selling a house does not have to be complicated. With more knowledge, you will ultimately know what to do regardless of the activity. We can help you sell your house or even find the best FSBO property for you or your family. If you need more information, all you have to do is to contact us. We will gladly answer your questions and provide you with solutions for your real estate qualms.