What Is FSBO?
As a West Palm Beach Florida Real Estate Lawyer, I am quite often asked about the For Sale By Owner (FSBO) process and what FSBO means. For Sale By Owner or FSBO is the process where the Seller of a home takes on the responsibility and time of finding a Buyer to purchase their home without using a real estate agent. Although many Sellers think that they can handle this process on their own, many times it can be a long drawn out process.
FSBO Pros
For Sellers interested in the For Sale By Owner (FSBO) process, it can be very rewarding if you’re willing to put in the effort, time, and work. If done correctly, the Seller can save thousands of dollars in real estate agent commission fees, which in turn means that the Seller walks away from the closing table with more money in their pockets. FSBO is great if you’re selling to friends and family or already have a Buyer and the Seller will have complete control of the negotiations and process.
FSBO Cons
Studies show that FSBO homes usually sell for less than homes sales that have agents involved. FSBO transactions usually take a longer time to process from beginning to end, it can be stressful for the Seller, and if disclosures and representations are not accurate, the Seller may be open to exposure.
Our experienced West Palm Beach Real Estate Lawyers are here to assist Sellers through the entire FSBO process. Our office charges a flat attorney fee of $495.00 plus low settlement (closing) fees. Ask us for a preliminary closing statement so you can see an estimate of how much you will net.
Our FSBO Lawyer’s Fees Include The Following:
- After the Seller finds a Buyer, our office assists with negotiations on behalf of the Seller and drafts the Purchase and Sale Contract;
- Once the Contract is signed, our in-house attorney owned Title Company, Clear2Close Title & Escrow, then gets to work by accepting the Buyer’s escrow deposit and ordering a title search and lien search on the property; and
- Once title is cleared and the closing date is in site, our FSBO Attorneys review all of the searches, all of the Seller’s documents to be signed at closing, prepare any required legal documents, and prepare the Seller for the actual closing.
Buying and selling real estate is quite often one of the biggest financial decisions that one makes in their entire life time. Our West Palm Beach Real Estate Attorneys never recommend handling this process on your own. If you’re thinking about the For Sale By Owner (FSBO) process, call us today to see how we can help. The Law Office of Ryan S. Shipp, PLLC is located in Lantana, Florida. We assist with For Sale By Owner (FSBO) in West Palm Beach, Boynton Beach, Lake Worth Beach, Lantana, Delray Beach, and throughout the State of Florida. Call us today @ 561.699.0399 to get started.
