FSBO Contract Legal Help

Sell property confidently with properly drafted agreements.

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In this video:

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    Can I use a TREC contract to sell my home?

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    Do I need a Real Estate Agent to Sell My Home?

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    What are some common questions when doing a for sale by owner?

Resale Contracts for For Sale by Owner

In a For Sale By Owner, the seller’s agent is typically the person who draws up a real estate purchase agreement. If the owner isn’t represented by a real estate agent, a purchase contract needs to be signed to protect the buyer and the seller. We offer this service at our office on Woodstone and IH-10. This agreement protects the buyer and seller. It gives the seller the ability to foreclose due to non-payment. All transfer of title notarized and recorded is included. • deed • deed of trust (mortgage) • note (I.O.U.) • numerous disclosures and settlement statements • We make sure to set up client with a note servicing company. • Title and tax search to research problems Price: $1,000 (Setup an appointment here)

Advantages of Owner Financing

Owner Financing Advantages for the Seller

  • The number of potential buyers will increase significantly.
  • The sale price should not need to be reduced below the market value.
  • The sale will close faster than bank financing.
  • Any potential income tax liability from the sale could be deferred.
  • In most cases, the note you create can be sold and converted into cash at any time.

Owner Financing Advantages for the Buyer

  • The buyer will not have to meet rigid bank qualifying standards.
  • The buyer may be able to purchase a property unqualified for by the banks.
  • The buyer will pay lower closing costs.
  • The buyer may be able to make a smaller down payment than the banks would require.
  • The buyer has the option of creating flexible payment terms.
  • The buyer can eliminate origination points or mortgage insurance.
  • The buyer may not have to establish a prepaid escrow account for taxes and insurance.
  • The best practice is to establish an escrow account for taxes to avoid a large payment by seller if the buyer cannot pay.

Is It Hard to Sell a Property With an Owner Finance?

Your home will sell for a certain price. Oftentimes, we see individuals inaccurately pricing their homes. Selling a home is an active endeavor that is determined by price and product. It takes an experienced realtor or a tenacious owner to provide clear photos and staging. It’s important to understand the properties features.

Here are some questions you need to ask yourself if you are interested in doing a For Sale By Owner. Did you inspect the property yourself? Are you using the seller’s disclosure notice and the TREC Property inspection report? Are you staging and marketing better than the competitors? How do the kitchen and bathroom look compared to the homes in that neighborhood that sold in the last 6 months? Are you reasonably comparing those homes to your home?

With that information, ask if your price expectations are accurate.

House with for sale sign

FAQ

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Maas Law Firm, Texas Real Estate Attorney

We are a San Antonio Real Estate Law firm that offers fixed fee rates for a variety of legal transaction services, including Owner Finance & Wraparound Closings, Foreclosures, Deeds & Releases, Real Estate Contracts, Title Issues & Judgments, Wills & Estates, Probate & Administration, & LLC Formations. If you need help assessing your case give our office a call.

Victor has been doing real estate transactions as a lawyer since 2002 & as an investor himself since 2003. There are a lot of nuances with real estate & we hope that if you have any questions to contact us during regular business hours. Along with being a Real Estate Attorney, Victor is also a Real Estate Broker, making his expertise long standing & efficient.

What Our Clients Say

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Victor is a mover & shaker in the Real Estate Investment business...I recommend him anytime.

JD GARZA

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Victor has closed a bunch transactions for us. Very knowledgeable & efficient!

Michael Eronini

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Mr. Maas is extremely professional & makes the process quick & painless. Thank you for helping me today. You're a blessing.

Mandy Molina

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This lawyer knows his stuff & doesn’t back down from a fight!

Alfredo Ibarra