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Buying or Selling a Home/FSBO and attorney
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Question
My husband and I are considering trying either simple FSBO or Rent-to-own. In what stage will we need an attorney? Do we need an attorney from the very beginning stage like signing a purchase contract? How about Rent-to-own procedures? Thanks
Dear Judy: There is nothing like a "simple" FSBO. You are dealingwith a seller who may or may not provide you will all of the mandatory local, community, city, county, state, and federal disclosures. You may also not have support for inspections and negotiations with everything from the contract through the close of sale. Plus, a rent-to-own (called lease-purchase or lease-option,depending on which of the two you really mean as they are both quite different) is fraught with potential problems, They are causes of major misunderstandings and litigation. I would strongly suggest you put yourself in the hands of a real estate attorney from the first step forward. The money you spend on this support will save you triple the cost in the long run. There is much to lose going in with no one behind you, you could lose deposit money, the actual sale, etc etc etc. I am glad you are seeking the smartest route, and I wish you good luck in this endeavor. Please let me know how you fare. Karyn Foley
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Thank you Karyn for your answer. You are very helpful | ||
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Karyn Foley
Expertise
I can answer questions on picking the right agent, marketing properties, contracts, ethics, buyers and sellers responsibilities and fiduciary relationships. I prefer not to answer questions relating to real estate financing.
Experience
I have over 29 years of full time real estate experience in the Southern California area as realtor, assistant manager, education director, and broker. Consistant top producer.
Organizations
Southland Regional Association of Realtors, California Association of Realtors, Calabasas Chamber of Commerce.
Publications
Las Virgenes Enterprise, Calabasas Courier.
Education/Credentials
Bachelor of Science degree, UCLA, licensed real estate broker, graduate realtors institute designation.
Awards and Honors
Trophies and certificates of achievement for real estate production. Training Director, Instructor for the local Board of Realtors, Member of local Board's Grievance Committee. Chamber of Commerce Community Service Award, one of the founders of the City of Calabasas, elected to the first Calabasas City Council, first woman mayor of Calabasas, former Regional Representative to Southern California Association of Governments.
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