For Sale by Owner (FSBO)
The internet has changed the real estate marketplace and as a result of websites such as Trulia, Realtor.com, Craigslist and Zillow, more and more homeowner’s are opting to sell their homes without the assistance of a real estate agent. These sales are often referred to as For Sale by Owner (FSBO). When a homeowner elects to sell a home on their own, the services of a qualified real estate attorney can help ensure the sale goes off without a hitch for a fraction of the cost of a real estate agent. This page provides some basic information about hiring our firm to assist you with your FSBO transaction.
Can’t I just use the standard forms off the internet?
Although standard real estate forms are available from websites, such as the Kansas City Regional Association of Realtors (www.kcrar.org), these forms do not come with an explanation of the various terms or when certain disclosures are required. They also may be copywrited, meaning that you can not legally use the contract without permission from the person who drafted it. For most people, the sale or purchase of a home is one of the largest transactions they will ever be a party to. With so much money at stake, it is important to ensure that all the paperwork is completed correctly and that the buyer and seller are protected from future liability. An experienced real estate attorney can ensure the property ownership is properly transferred and/or help address issues that arise during the closing process.
Do I need title insurance?
If the buyer is paying in cash or the seller is providing financing, title insurance is not required to complete the transaction. However, it is strongly recommended that title insurance is a part of every real estate transaction. Title insurance protects the buyer (and mortgage company, if applicable) in the event another party claims an ownership interest in part or all of the property. We have experience working with many of the title insurance agencies in the area and can provide recommendations if needed.
Isn’t a real estate attorney expensive?
Especially when comparing the costs to that of a real estate agent, an experienced real estate attorney is rather inexpensive. For Sale by Owner packages start at only a few hundred dollars or less than half a percent of the purchase price for a $100,000 home. The standard real estate agent’s commission on that same home would be $6,000 or as much as ten times the cost of hiring an experienced Real Estate Attorney.
How much does it cost and how do I get started?
Information about our services and pricing is below. When you are ready to get started, please click here to schedule an initial consultation.
For Sale by Owner Services
Deeds and Documents
Beneficiary Deed$220.00 Retain Firm
Lease with Purchase Option$450.00 Retain Firm
Life Estate Deed$220.00 Retain Firm
Promissory Note and Deed of Trust$400.00 Retain Firm
Promissory Note and Mortgage$400.00 Retain Firm
Quitclaim Deed$220.00 Retain Firm
Residential Purchase Contract$350.00 Retain Firm
Residential Purchase Contract Amendment$350.00 Retain Firm
Warranty Deed$220.00 Retain Firm