Real Estate Law Misconceptions

Selling or buying a house for sale by owner (FSBO) is not the most popular way to complete a real estate transaction, yet it still occurs in some cases. If you are the buyer or seller of a "for sale by owner" house, you can handle the transaction alone, but it would be beneficial for you to hire a real estate lawyer for help. Here are some facts about FSBO deals, as well as ways a lawyer can assist both the buyer and the seller.

How FSBO Deals Work

Homeowners that aim to sell their homes through FSBO deals advertise and list their houses without hiring a real estate agent. These homeowners show their homes to people who inquire, and they negotiate with the buyers. They also write up the contract together and work through the closing process without the assistance of a real estate agent.

People who sell their homes in this method do so to save money. If you sell your house without a real estate agent, you do not have to pay a commission. A person buying the house might choose this route based on the house itself. Buyers also benefit by saving a little money on the selling price of the homes they purchase.

When you use an FSBO method for buying or selling a house, you will benefit by hiring a lawyer that offers real estate services.  

The Benefits of Hiring a Real Estate Lawyer for Assistance

A real estate lawyer handles and assists with real estate transactions and can also help with an FSBO deal. The seller of the property may not need these services as much as the buyer, but both parties still receive benefits from this. The seller can benefit from having an expert draw up the contract, making it legal and valid. The buyer can benefit from having a knowledgeable person assisting with all the fine details of the transaction.

The lawyer can help with the title work that must be completed for the deal. The lawyer also assists with the task related to escrow. The lawyer will also help with the closing documents, transfer of the deed, and much more.

If you are buying or selling a house through this method, you should consider hiring a local, experienced real estate lawyer for help. The lawyer you hire will assist with the entire transaction and will ensure that it runs smoothly.

To learn more, contact a firm that offers real estate legal services.