I have a house that i’m flipping, was gonna use a realtor but i have so much much interest in it i was thinking of selling it myself, as i have 2 super serious buyers,ones cash, theres no loans on my end, title on house is free and clear. so looking for advice on does and donts,the realtor i bought it from was super helpful,and is flat rate. so though about just using him. but wasnt quiet sure if it was needed. Thanks
You and buyer talk over details (price,if appliances stay, ernest money amount, closing date,etc) In Wisconsin the buyer fills out an offer to purchase with details you agreed on. Both should have an attorney look over the paperwork before signing. Each get a copy. Sellers attorney gets deed, title insurance, etc. in order for closing date. Closing day buyer and seller meet at title office exchange paperwork and check. Done deal.
Depending on your attorney your bill should be 2k or less. Sold my business last year and my attorney fee was $1350.
I know people that have used lawyers service a lot cheaper than realtor
I also used my attorney
I used a attorney
Realtors do marketing, lawyers work on legal documents. Doesn’t sound like you need help with the marketing portion of the transaction.
Yes, exactly, I think the whole realty thing is a big scam, skimming off 6% from the seller and not charging the buyer anything! Just because the seller is getting hundreds of thousands of dollars in the sale of their home they think they can just skim off the 6%. Find a title company and hire a lawyer, much much cheaper. It’s about time people wake up and say no to realtors taking huge amounts of money for hardly any work. Just my opinion…
Thanks guys pretty much what i was thinking.
Yes, exactly, I think the whole realty thing is a big scam, skimming off 6% from the seller and not charging the buyer anything! Just because the seller is getting hundreds of thousands of dollars in the sale of their home they think they can just skim off the 6%. Find a title company and hire a lawyer, much much cheaper. It’s about time people wake up and say no to realtors taking huge amounts of money for hardly any work. Just my opinion…
^^^^X2
It’s a great time to sell without a realtor. If the market ever tanks and you’re forced to go a different route, then that’s when a realtor is crucial.
I’m curious for those who are selling without a realtor involved, how do you set a price for the sale though? I’ve done a lot of side work with contractors on new homes for a second job, but really have never dabbled much in the used home market. The couple flips I’ve been in on the people I went in with handled pricing and I was just some grunt labor.
I know people that have used lawyers service a lot cheaper than realtor
This exactly. Last time we went this route it was $500 for the lawyers services…that was a few years back thou.
I am going to put my house on the market as soon as I can find a house in Prairie Du Chien. I am setting my price by looking at comparable house sales in my neighborhood. I am using the website Zillow to find the comparables in my neighborhood, but I am sure there are other websites. Zillow has photos of the house, selling price, square footage, etc. just to name a few. The market is so hot right now that I have 2 people already interested and I am still working on updating the house.
I am setting my price by looking at comparable house sales in my neighborhood.
That’s literally what our realtor did. When he came to our house to look it over and get a good idea for listing it he brought with him printouts of 3 comparables in the area. And as much as we wanted to make money on the sale, even we thought the number he listed it at was high (what I’m saying there is even we could’ve done that). So in a lot of ways with the right effort and research and resources (legal) selling a place sounds like it could be a very DIY job. A big factor too as Bucky said is the way the market is right now, people are looking for homes left and right, so that goes in your favor.
I’m curious for those who are selling without a realtor involved, how do you set a price for the sale though? I’ve done a lot of side work with contractors on new homes for a second job, but really have never dabbled much in the used home market. The couple flips I’ve been in on the people I went in with handled pricing and I was just some grunt labor.
The good and ugly of it is just do google searches for comparable property AND amenities in your area. The big fail I see is people look at sqft-bed/bath-and maybe lot size then put the blinders on. Much like the value of a car. You don’t price a car by the pound, so don’t price a house by the sqft. Big difference in a Chevy cruise and a Lamborghini
One benefit of a realtor for selling is getting on the MLS, you want as many people looking and potentially making offers as possible. We moved this fall, and had 24 showings and 8 offers over our inflated asking price in 2 days. Could we have had that same volume without our Realtor/MLS? Maybe. But he also found our next house as it came on market (along with a ton of showings along the way), and was instrumental in securing the purchase, so I was more than happy to pay him.
Also one thing you might get with a realtor is a bidding war. That extra could cover the cost of the realtor. Maybe
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