You are responsible for the same legal disclsoures that any seller would be. The most important thing you should consider is this: If I sell my home without professional representation, who represents MY interests? If it's just you and a buyer, how do you negotiate?
If the buyer's agent approaches you, that would mean that the buyer might have an unfair advantage, they have a sharp negotiator, you have...well, you!
I am curious, when you sell your home, are you buying a new home? Planning to use a Realtor? Sure, why not, we work for "free" right? That's how most buyers think, so the first time a buyer sees the home they buy, they see it with a Realtor. 90% of the time.
So that means that you are excluding 90% of the buyers when you sell on your own. Is that to your advantage? You could also list with an MLS only broker, pay the selling side of the commiission, and save one or two percentage points...but only IF you can find a buyer and close escrow. Limited service listings in OUR mls sell for 2.4% LESS than homes sold by full service agents, and take more time to sell.
Good luck! Let us know how it goes.
if your house was built before 1982 make sure you have a lead paint disclosure. i used the 1982 reference just to be sure for your area. get your hands on a purchase and sales agreement or standard purchase agreement and sell your house. there are many names for these agreements.
Yes there are several companies that specialize in "boiler plate" contracts customized for your state.
Try Goggling Purchase and sales agreements.
Another great idea that I prefer is to self market but utilize a good attorney to keep you out of trouble with legal contracts.
Feel free to see my recommendations and suggestions to people in just your position in my free ebook at the web site below.
All the best,
Yes there are legal forms. It is all about your motivation on selling your home. If you have time to sell, then selling it yourself is okay. But if you have to sell soon, then utulizing an agent's expertise and advertising would be great. Right now the market in the greater Cincinnati area has about 15,000+ listings on the market in MLS. For Sale by Owners have a 2% chance of selling their home themselves.
Coldwell Banker has the best marketing available to get homes SOLD.
Good luck on selling your home. Let us know how it goes!
Yes is the answer. You need all the same contract and disclosure forms that any seller must have. If you need copies, give me a call! 513 766 3878. Carol Meadows, Keller Williams Advisors Realty.
I would tread carefully. Now if an agent brings a buyer to you and you pay them a commission they will be doing double duty (to protect their client) and providing all the paperwork. If you do not have a real estate professional anywhere involved in this transaction then you definitely need to speak with the attorney that you are going to use at the closing and get everything you will need. You may start to find out why we go thru so much training and continuing education. But, I wish you luck and just be careful.
Coldwell Banker Triad
There are legal contracts for selling your house as well as state and federal disclosures that are required. I would be happy to review these documents with you or you should contact an attorney.