For Sale By Owner | Who You Have to Negotiate With
When you think about selling your home or condominium on your own, you really have many hats to wear. And during the process, you’ve got many people you will have to deal with. Yourself.
If you are not offering a commission to a Buyer’s agent, you may be talking directly to your buyer. Be careful. You could tip your hat in the negotiation process if you say something you shouldn’t.
The Buyer’s Agent
But you are paying a Buyer’s agent if they bring you a buyer. Now, you have no one to act on your behalf in the negotiations…but the Buyer does. Their agent. If you’ve sold a home or two, this rodeo may not be a problem for you. And then again….
The Buyer’s Attorney
In Georgia, the closing attorney represents the lender, if there is a mortgage involved in the purchase. So, rather than your agent calling to check on the progress of the title search, and all, you will be.
The Home Inspection Company
You should not be present for the home inspection. Maybe you already know that? But, if you have any questions about the report, you’ll be directing the to the Buyer’s Agent (who represents who….?) or you will be calling the inspector yourself with any questions you have about the report.
If the Buyer is asking about your termite bond, or elects to have a termite inspection, and issues arise, you will be the negotiator.
The Buyer’s Lender
Want to know if all the documents needed by the lender have been submitted by the Buyer? How is the loan progressing? Appraisal in? You’ll be trying to call the Buyer’s lender, or calling the Buyer’s agent, and hope they are responsive to your calls and questions.
Times have changed, and the lender cannot contact the appraiser directly. They must go through an appraisal management company. You, on the other hand, can pick up the phone and scream if you have an appraisal issue!
The Title Company
In Georgia, this is also the Closing Attorney, who requests the title search on behalf of the lender.
The Town or Municipality
Perhaps the Buyer (at the recommendation of the Buyer’s agent) had a survey done on the property if it’s a single family home. And there is an issue on the survey. You’ll be contacting the city if there is an issue with say a property line, or utility easement, or other surprise you may not have known about.
The Buyer’s Buyer
Does the Buyer of YOUR home need to sell their home? How do you know how that side of the equation is going? You’ll be asking the Buyer’s agent to find out for you….and hope you are getting a straight answer that will not later delay our closing.
Besides the possibility of a short sale, if you need payoff information, you will need to contact your bank and get this information. This would be the same if you had your own agent, but if it were a short sale, most likely your listing agent would have had you hire an attorney to negotiate your short sale terms.
There is a lot that goes on when you sell your home. And it can be a stressful time, managing all the parts. And to do it by yourself……whew!!
If you are considering selling your home or condominium, why not contact us to help you through this process, not to mention help you with the marketing of your home. It’s a big financial part of your life.
Maybe you need a real estate agent!