How dose 'for sale by owner' work?

If someone agrees to buy your house what are the technical steps to sell?How dose 'for sale by owner' work?
There are some good FSBO web sites that'll lead you through the process.





There are basically two steps. (This is way oversimplifying the process.) The first is the transfer of ownership to the buyer. The deed is transferred to the buyer. The second is payment from the buyer to you. You may want all your money up front, in which case the buyer gets financing and pays you. You, in turn, pay off anything you owe on the property, giving you clear title that you then transfer to the buyer. You keep the remainder (if any) as your profit).





So, there's the deed/ownership element and the money/payment element.





Each of those has dozens of steps.





The most difficult part isn't the actual transaction, but finding a buyer, then taking care of all the many steps (the inspections, the contingencies, the disclaimers) leading up to closing.





Again, there are plenty of useful FSBO sites out there. But keep in mind that most people who start off selling FSBO eventually either withdraw the property from the market, or go with a Realtor.





And in any case, you'll also need a real estate lawyer. (Technically, legally, you don't. As a practical matter, you do.)





Hope that helps.How dose 'for sale by owner' work?
A ';for sale by owner'; in my opinion is a better way to sell in today's market. My wife and I sold our house last year to an investor. At first we considered listing the property with a realtor but then we've heard stories how houses in our area are on market for 1-2 years without being sold.





We contacted the people at:





http://www.sellmyhouse2day.com





and they gave us a cash offer that we soon accepted. They had an investor come in and within 45 days our home was closed on.





If they agree to buy your house, they generally send you a contract to look over and sign. Then they will want to have the house inspected and will run title searches to make sure your house is free and clear of any liens or judgments. The buyer and title company will do most the work. You just have to cooperate and look forward to closing day. hope that helps!