I'm thinking of selling my house for sale by owner. Who is responsible for the legal fees?

Who is responsible for the legal fees and appraisal and all that comes with selling a house on your own?I'm thinking of selling my house for sale by owner. Who is responsible for the legal fees?
You write the contract how you like. Just state that your selling price is $$? and the buyer pays all closing costs ect.Or you can offer to pay them as a selling perk.I'm thinking of selling my house for sale by owner. Who is responsible for the legal fees?
all fees are negotiable...there are customary fees in different areas consult a title rep to see what is customary in you area...I am an agent...knowing what i know I'd hire an agent...


Realtors are much cheaper than lawyers and they work on contingency.....
Unless agreed otherwise, each party pays their own costs .. if you claim it is worth $x and the buyer needs a valuation for eg. mortgage loan, the buyer pays for it .. you pay selling legal fees, buyer pays buying fess and so on ..
Unless you are steeply versed in real estate law and procedure on a near daily basis, you have no business with a FSBO. There exist a number of books available at popular bookstores that will assist you in drafting the contract terms and conditions.





There is a word for people who ignore the realities for the need to obtain professional advice. Those folks are called ';Courtroom Litigants'; Litigation costs are much higher than broker costs because it takes longer to become an attorney than a broker. Even then you are not sure if you will ';win';





O.K.? Here is what you do... There exist real estate businesses that will complete your paperwork properly, Since they are not finding the ';buyer'; they will charge a more nominal fee of 1% or 2% interest. Some have a flat fee of between $750 and $1,500. Your escrow costs are not included


in this and your escrow company may also serve as the contract generating entity. All these costs are negotiable between buyer and seller. The peace of mind this will provide will far exceed your costs.
The contract between you and the buyer will spell out who pays what costs.





there are customs in different parts of the country that would lead to the buyer paying something and the seller paying something else but not a lot of laws deciding that.





FHA and VA have rules that require the seller to pay certain costs (salespeople used to call those fees ';non-allowables'; because the program would not allow the buyer to pay them, but on conventional programs there are very few such restrictions).
Many people went broken not to know.


When you buy a house, all attorney expenses are on your wallet too!!!
Depending on the State that you reside in the way the contract is written etc. The buyer has an option not to go forward with the purchase of the home if they cannot obtain financing and get the home to appraise. You need a professional, the legal ramifications can be daunting, The person that represents themselves is dealing with too many unknowns. The least of your worries is the closing cost. Get professional advice---now.
Legal Fee's could be negotiated, however if you as the seller contract with an attorney, you might not be able to recoup that money. As for the appraisal, it's typically the buyer who pays for that.
You need a lawyer to represent you. The Lender for the buyer will require an appraisal, and that will be the buyer's responsibility. Your legal fees are your responsibility. In some states, you also have to pay transfer tax when you sell a home. That would also be your responsibility. So would any certificates of occupancy required by the local municipality, and tax certifications, too. Don't ';share'; your lawyer with the Buyer. You need someone that represents your interests only. The lawyer should be able to tell you all the fees and expenses to expect in your locale. Good luck.
As an Agent, it's my personal preferance to keep attorneys out of real estate.


See if you can find a local agent that will FACILITATE for you. The agent doesn't represent either party (seller or buyer) but will do all the paperwork, disclosures, follow title and make sure your buyer has solid financing for a flat fee taken out of the closing from your proceeds. (I've charged as little as $2000) And you don't have to pay it up front (like with an atty)


You advertise the home, runs ads, show it, do open houses etc. to find a buyer.


If you have an agent facilitate then you can even tell any prospective buyers that there is no cost to them (you can have the agent take care of it all) The buyer would still be responsible for their own lending costs (origination fee's, appraisal, etc to their loan officer) and their own title %26amp; closing costs %26amp; any costs incurred for a buyers inspection (normal that the buyer pays their own)


I do this kind of thing all the time to save my clients realtor fee's but to make the transaction as easy as if it was listed.


Good Luck!