Approximately 30 percent of homeowners intend to sell without a real estate agent, a recent survey revealed. iIf they didn’t fear the contract side of the process, I bet more would.
Contracts When Selling Your Home Without An Agent
It is undeniable that you can save a lot by selling your home without an agent. Typical commission fees charged by an agent is six percent of the sale price. The fee of a real estate agent on a $300,000 home equates to $18,000 dollars. That is like leaving money on a table.
Why don’t more people do it if a seller can save more money by foregoing an agent? Simply put, they are afraid of the process. Real estate contracts can be a scary issue for most homebuyers in particular. How would you know if you are doing it correctly? What if you do it wrong? Are you going to lose the home, will there be lawsuits? Frankly, many people have nightmares about the idea of dealing with these issues. This doesn’t need to be like this.
First of all, most real estate agents do not know more than you do about contracts. They are not legal experts but are in the business of selling real estate. Furthermore, most real estate contracts are of the pre-printed form variety. All in all, you do not need to be overly concerned with this issue. Of course, it isn’t my property.