Resources When Selling By Owner

Added March 23, 2009 by Ilyce R. Glink

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Summary: There are a number of resources at hand when selling your home by owner. When selling by owner, it’s important to ensure you have the correct documents in order without an agent to represent you.

Q: I'm trying to sell a property myself because I have many interested buyers by word of mouth.

I'm having a hard time finding good solid information on what is required of sellers who sell without agents in the state of Alabama.

Can you suggest a website or group that could help me? I just want a list of what documents may be required in order to protect myself and get it done right since I will have no representation. A real estate might be a good investment for a seller whose home is for sale by owner.

I am going to allow a buyer's agent, however, because I know how important that is to a buyer. Thanks for doing this and helping all of us!

A: Congratulations on having so much interest in your house. I know there are thousands of home sellers who'd like to be in your shoes.

Regarding your search for a list of requirements, such as seller disclosure forms, lead disclosure forms and other things you are required by law to give to a buyer, each state has an office (or commission or agency) that handles real estate matters, such as the licensing of real estate agents. In your case, you'd want to try the Alabama Real Estate Commission www.arec.state.al.us. If you lived in California, it would be the California Department of Real Estate www.dre.cahwnet.gov.

If you don't find what you need on the Alabama Real Estate Commission's website, call and ask where to find out the information you need to sell successfully by owner.

One more thought: You might want to hire a real estate attorney to help you navigate the documents and make sure your contract protects you fully.

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