For Sale By Owner: How to Save Money When Selling Your Home

Thinking of selling your home? This is a major financial decision and one in which you will want to ensure that you maximize profits and minimize costs. If you’ve been involved in the home buying process before, you probably already know that hiring a realtor, while valuable, can be expensive.

Realtors provide many benefits to sellers and buyers of homes.  First, they have specialized education and experience about your market and can provide you valuable advice.  They also have access to a network of active buyers and sellers and have marketing tools available that an average home owner does not.  They also have experience helping with pricing and price negotiation.  Finally, realtors can provide form real estate contracts to assist with the closing process.  Over 90% of homeowners hire a realtor and for good reason.

However, realtors do not come cheap.  The typical fee for a real estate agent is approximately 6%. According to Zillow, the median price of homes in St. Joseph is approximately $210,000. Assuming your home sells for that price, that’s $12,600 in realtor fees before deducting any closing fees or other costs.

If you are one of those home owners who has decided to list your house “for sale by owner” using some of the many internet services available for that process, you should consider hiring an attorney to help you with the paperwork necessary for the contract and closing.   This is where the lawyers at MTSE can help. Our lawyers regularly draft residential real estate contracts that are tailored to your specific needs.

Don’t sell your home on your own.  If you decide not to utilize a realtor, please give the real estate attorneys at MTSE a call at (816) 364-6677 and let them walk you through the contract and closing process. Not only are you likely to save money, you will benefit from peace of mind by having a lawyer in your corner.

Published by: Ken Siemens; Seth Slayden