Like Florida oranges, buying a home directly from the owner offers unique benefits. Saving on commission fees and negotiating terms face-to-face can make the process more personal and flexible. Yet, it’s important to understand the potential risks and challenges of navigating FSBO transactions. From understanding FSBO laws to negotiating contracts and inspecting properties, this article will walk you through everything you need to know about buying a home without a realtor in Florida.
One of the most common reasons homeowners decide to sell their property on their own is that they want to save on real estate commission fees. However, selling a house on your own can be extremely time consuming and may even be more costly in the long run than hiring a real estate agent. You will need to spend a significant amount of time marketing your home, scheduling open houses, and following up with interested buyers. In addition, you will need to complete FL state seller disclosures and take professional-quality photos of your home.
Moreover, you will need to understand FSBO laws and follow the rules and regulations of your local real estate board. To avoid costly mistakes, consult a reputable real estate attorney to help guide you through the process.
Once you’re ready to start the sale Florida Property Sale Without a Realtor, consider listing your property on the Multiple Listing Service (MLS). This is a database that real estate agents use to list homes for sale. By using Houzeo, you can get your home listed on the MLS within 24 to 48 hours for a flat fee that’s significantly less than what real estate agents charge.
To increase your chances of selling, you should also invest in a comparative market analysis (CMA). A CMA is a report that compares your home’s current price to similar properties sold in the neighborhood over the past six months. It will give you a good idea of your home’s value and how competitive it is with other Florida properties on the market.
While you can do a CMA yourself, it’s often best to hire an experienced and local real estate agent to do it for you. This way, you can be sure that the information is accurate and that it is based on recent comparable sales in your area.
If you’re unsure whether to hire an agent, ask for a free CMA. Most agents will offer this service in the hopes of gaining your business. However, be careful not to request a CMA from a real estate agent who isn’t currently representing you in the sale of your property. Moreover, requesting a CMA from a competing real estate company can be considered broker-client competition and is illegal in some states.
Closing a real estate transaction involves signing many legal documents and can be complex. While Florida law does not require you to have a real estate attorney for closing, it’s a smart choice to have one on standby for any complications that might arise during the process.