Expert: Ray Beggs - 8/3/2006

Question
Hello Ray,
My best friend is wanting to sell her house without an agent or a broker.  We have a buyer who has made an offer that she has accepted.  I have found a title company to go through, but to write up the paperwork is it necessary to hire a real estate attorney?  I don't want to deal with issues in the future, so I want the paperwork done correctly the first time.

Answer
Hi Josette,

Thanks for the question. What you're looking for is to have a real estate agent "write up" the deal for you. You would also need a title company and an escrow company but everyone could give you a discounted rate. Typically, I do a "paperwork only" deal for $2000. This gives you the E+O insurance and the disclosures and it makes sure that you are at an "arms length" distance in the transaction.

If you are in Southern California, I would be happy to do this for you. If you are not, then check with the local escrow companies and ask for their recommendations for good Realtors. This isn't a hard deal for agent, so they don't need to charge anything near their usually rate of 3-6%.

It's very wise of you to be checking this out before the fact. Many times, FSBO's think everything went fine but later, they find out that something is wrong and they are being sued.

Let me know if you have any other questions. My direct line number is (714) 488-7868. Please feel free to call me.

Take care,

Ray