For Sale By Owner
Common Problems in the For Sale By Owner Transaction
Lack of legal due diligence: Issues with easements, shared driveways, roads, well agreements, parcel deed restrictions, and a host of other invisible circumstances of the parcel affect the market value of the parcel. If you are not aware of these issues, the For-Sale-By-Owner can not defend against their negative effect on market price by predatory buyers.
Poor contract language: Often For-Sale-By-Owners haven't thought through the sale to the point of what contract to use. The contracts used by Realtors® are copyrighted so this is not an option. What contract terms are critical? Which are nice-to-have? Complying with State disclosure laws that can vary depending on the State the parcel is located in is critical.
Contract calendar mishaps. There are a lot of moving pieces to calendaring a real estate transaction, once a buyer is found. Each contract contingency needs to have enough time devoted to it so that that the buyer doesn't fall out of contract because of lack of adequate time to fulfill their obligation.
Types of FSBO's
Bare Land • Commercial • Condominiums • Court-Appointed Officers • Estate Executors • Farms • Investors • Residential