With my associate Marc Holmes, I regularly assist people with the sale of their home. Our legal services and counsel throughout the sale process have helped many people through what can be a difficult and daunting endeavor.
If you've decided to sel your home -- or are thinking about doing so -- you should consider hiring a lawyer to assist you with the process and ensure a smooth transaction. This holds true whether you are selling with an agent or have decided to sell it yourself. Please see the FSBO and Selling with Agent pages for more information.
In addition, in this tight housing market, sellers can create additional opportunities by considering a "rent-to-own" or, more accurately, a lease-purchase arrangement. Under such an arrangement, a buyer leases the property while retaining an option to purchase it at some point in the future. If you are considering this type of transaction, Marc and I can assist you in structuring the deal so that your interests are fully protected. See the Landlord page for more information.
If you have not yet hired an agent, you may want to consider FSBO. Although you will need to do more work, you will probably save at least 3% of the purchase price, as you will avoid paying a seller's agent (you may still need to pay the buyer's agent). Moreover, economists at the University of Chicago have concluded that the real estate market is distorted by the commissions paid to real estate agents. This distortion leads to lower selling prices. According to these economists, "Homeowners are induced by their agents to sell too quickly and at a price that is too low." The ABC News show 20/20 recently looked at these issues. On top of that, an agent may end up looking out for his or her own interests rather than yours.
Many experts suggest that you at least try to sell your house yourself before hiring an agent. "For Sale By Owner"success stories are common. The money you save can be significant. The internet has many resources that can help you decide whether FSBO is best for you. There are several FSBO web sites that will list your home and provide assistance in the process.
There was a recent piece on the CBS show "60 Minutes" regarding a discount agent called Redfin. The piece has some interesting information about the basis for an agent's typical 6% commission -- who knew gas and postage was so expensive? However, consider the services provided by Redfin: if you're relying on your agent (or discount agent) only to protect your legal interests, it will be a lot cheaper to hire an attorney who will do a better job of doing so.
My practice is focused on the purchase and sale of residential real estate. I am happy to work with you from the very beginning so that you can make fully informed decisions throughout the process.
