For Sale By Owner (FSBO)
Broker fees on the sale of a $200,000 home can be as high as $14,000. It is increasingly common for homeowners to avoid those commissions by listing their homes as For Sale By Owner (FSBO).
Ask a lawyer how to protect yourself before an FSBO sale
Attorney Doug Tull has handled and brokered For Sale By Owner transactions for over 30 years. Attorney Tom Strasz has provided legal counsel to the Philip F. Greco Title Co. in Mt. Clemens – and acted as its Chief operating officer, for over 30 years. Both attorney Tull and attorney Strasz have a vast amount of experience in real estate matters and title matters, to assist those who prefer to “Do It Themselves” and try to sell their home or property For Sale By Owner (FSBO). At Douglas A. Tull, P.C. Attorneys at Law, Doug and Tom provide real estate law services to buyers, sellers, lenders and title companies in the southeast Michigan area, including properties in Macomb County, Oakland County, St. Clair County and Wayne County, and all of the communities therein, including Utica, Shelby Township, Macomb Township, Clinton Township, Sterling Heights, Warren, Rochester Hills, Rochester, Oakland Township, Troy and Waterford Township.
If you are considering selling your own home, there are measures you should take before you advertise. Attorney Tull explains what information you need to prepare for potential buyers, including Michigan’s required Seller’s Disclosure Statement and lead based paint disclosure statement required by HUD. (You are at risk of incurring serious liability if the statement is not filled out properly).
What if a potential buyer walks in — are you ready? Our firm will prepare a purchase agreement customized in light of your particular needs. You will be ready to negotiate the terms and get the buyer’s signature.
Representing buyers in For Sale By Owner transactions
You see the house, you like the house, you agree on the price — what now? DO NOT SIGN ANY AGREEMENT until you have had a real estate lawyer review the document. Purchase agreements are complex documents, and a single word can have an enormous impact. As an FSBO buyer, you should have your own attorney review the purchase agreement before you sign. You should have your own representation at closing for what will be one of the biggest investments in your life. This is an area that attorney Tull excels. Give them a call for a consultation BEFORE you sign. If you come to a real estate attorney after you have signed your agreement, all they can tell you is what you have gotten yourself into, not how to protect your interests.
When you have reached a deal
Attorneys Tull and Strasz regularly represent buyers and sellers in For Sale By Owner (FSBO) transactions. It is our goal that your FSBO goes as smoothly as possible. Let Doug or Tom put their experience to work for you.
If you would like to speak with Doug or Tom about representation in a For Sale By Owner (FSBO) real estate transaction or have any other questions, please call toll-free, 1-866-TULL-LAW (885-5529), or e-mail our firm. Our office is conveniently located in the heart of Utica, Michigan, at the southwest corner of Hall Road (M-59) and Van Dyke Avenue. (Map and directions) Evening or weekend hours are available by appointment. Home visits are available for the elderly and those with special needs. Credit cards accepted.