Friday, July 16, 2010

For Sale By Owner?

I would like to sell my home in CA myself and I have a potential buyer. Other than a purchase contract, what other documents do I need to present to a county recorder office to update the transaction on title when it is sold? ThanksFor Sale By Owner?
This is why you really ned a realtor. For Sale by Owners is not as simple as it sounds. If you do not know what you are doing, you can lose more than a realtors fee. You may be able to pay a realtor to just handle the paperwork for a lesser fee.For Sale By Owner?
Needless to say California has more laws and disclosures than the Federal government (puffing) I would recommend an ounce of prevention; in the least get an attorney but I do recommend an experienced licensee to help you. Just to give you an example of only one little item that has to be considered in California here are the disclosure requirements in California


All required real estate disclosures by law


http://www.dre.cahwnet.gov/disclosures.h鈥?/a>


A good analogy would be the need for a patient to go back to surgery to have tools removed after having the neighbor perform surgery on them.


Good luck to you
You may want to contact a local title company. I lived in Illinois and a company will do most of the paperwork for $650.00 which I would gladly pay with no hesitation.
The buyer's mortgage company is going to want a title search and title insurance.





In California, there are a ton of disclosures. You need to visit the county recorders office and a title company to get some assistance. For about $1,000 an attorney would assist you in this transaction.
There is probably a Seller's Real Property Disclosure that all parties need to sign along with additional state-required disclosures. Contact the CA Division of Real Estate or look them up on the web....They'll likely list the minimum paperwork required to transfer real estate.





Beyond that, the escrow/title company you use (and I do recommend using one) may offer you some guidance on required forms.





Another thing to consider is paying a CA REALTOR a nominal fee to ';troubleshoot'; the transaction. Shifting some liability off your back and onto a professional may be worth its weight in gold!





Good luck to you, and congrats on finding a willing %26amp; able buyer on your own!
Be very careful how you handle a real estate transaction. I suggest you hire a real estate attorney to review the contract and handling the closing.

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