The big question when selling your house yourself is where does a FSBO get a real estate purchase contract? Where do you get the paperwork?
Paperwork. A pain in the ass. Gets in the way of everything. But always necessary. If you could sell your house like you sell a car…on Craigslist, that would be nice. It’s actually almost that easy.
Real Estate Investment?
So I just got back from showing an investor a house and he asked me, would this be a good investment?
And I said, well, if you live there a while to build some equity and you sell it yourself, it could be a good investment.
He asks me,”sell it myself, what do you mean?” “What I mean is if you sell your house yourself, without hiring a real estate agent, it could be a good investment because you’ll keep your money instead of giving it away.”
Have you ever thought about selling a house yourself, I asked him?
And he told me, like most people do, I would not know the first thing about all the real estate purchase contract and paperwork.
Well, two things.
Paperwork & The Purchase Contract
First, there’s a lot more paperwork involved when you hire a real estate agent. Real estate agents need a lot of paperwork to cover their ass. Secondly, when you hire a real estate agent, that’s what eats deep into your profits. That makes the purchase a not so great investment.
The paperwork is not that big of a deal.
Filling out the paperwork is not that tough. When I sold my first house as a real estate agent, nobody trained me, nobody showed me what to do and there was no one there to teach me how to fill out the paperwork.
I got the contract, read it, filled in the blanks and I figured it out. Sold my first house just like that. Granted I had access to all the real estate purchase contracts and paperwork. I am a Realtor so that made it a little more convenient for me. Today all that is available to consumers online and easily accessible. The point is do not let the paperwork scare you. You can find real estate purchase contracts drawn up by attorneys that are amazingly simple to use. Like color by numbers. They’re sold all over the internet.
Here’s a link here, for example, where you can buy a state specific real estate package including purchase contract and any required disclosures. There are others, just google it. Most title companies or escrow offices have some sort of contract you can use too. Personally, I would recommend spending a little money and getting a state specific real estate purchase contract with all the legalese taken care of.
The rest of it leading up to a contract? Getting your house ready to sell, pricing your house correctly, marketing your for sale by owner and what to do once you find a buyer. I can show you all of it. You can sort through my blog posts or YouTube videos or you can get it all packaged up in order of steps.
Either way you and your family will be incredibly happy with all the money you’ll save by selling your house yourself.