Working with a title company that understands all aspects of a FSBO (For Sale By Owner) transaction is imperative when selling your house without a real estate agent. A title company can ensure the title is transferred properly and all taxes and fees are paid. We here at StoneBridge Title will work with you to coordinate any satisfactions of liens and prepare all the necessary closing documentation to make the experience for you and the buyer as smooth as possible.
Selling your own home can be a very rewarding experience, provided you handle the documentation carefully. Once an informal agreement is reached between you and the buyer, you will enter into a formal written contract for the sale of your home. This is known as the purchase agreement.
The purchase agreement is the single most important document in the transaction as it can affect the overall outcome of a sale transaction for your home or residence. If you’re entering into a real estate purchase agreement, you should be aware of some basic terms that are included in most real estate purchase agreements. These can include:
- Legal descriptions of the property (which may include zoning provisions)
- Terms of the sale, including purchase price and payment options
- Terms related to mortgages, escrow, and other real estate matters
- Closing dates and exchange of the deed
- Items to be included in the sale of the home, such as fixtures and appliances
- Warranties and warranty information
- Results of any inspections and/or appraisals that have been performed in connection with the sale
- Any legal issues regarding the title (i.e., encumbrances, repairs, easements, etc.)
By being aware of such items, you can help to avoid any ambiguities, fraudulent information, or errors in the real estate purchase agreement.
A real estate lawyer can be extremely helpful in negotiating, drafting, or explaining the forms and making changes and additions to reflect the home buyer’s and your desires. An attorney can assist you with these important tasks and even represent you in court if you have a legal dispute or conflict. StoneBridge Title has an in-house real estate attorney and a legal team who can write up your contract and handle the closing.
The closing is the most important event in your purchase and sale transaction. The deed and other closing papers must be prepared beforehand. At the closing, the title passes from you to the buyer, who pays the balance of the purchase price. Frequently, this balance is paid in part from the proceeds of a mortgage loan.
The closing statement should be prepared prior to the closing indicating the debits and credits to you and the buyer. Here, an attorney becomes helpful in explaining the nature, amount and fairness of closing costs. Once the deed and other closing documents are signed, an attorney can make sure that these documents are appropriately executed and explained to everyone.
Here are StoneBridge Title, our knowledgeable and experienced team manages the myriad of pre and post-closing processes—from title searches, lien searches and surveys, coordinating deposits and closing funds to handling post-closing recording and accounting. We even offer mobile and bi-lingual closings. We use the most current ways to process and get your closing filed and recorded. Our e-recording system allows us to have your transaction securely recorded and filed the same day depending on the county.
Just last week, we conducted a For Sale By Owner closing for Caroline St. Clair’s family. Here’s what Caroline had to say:
“We’ve always thought that it would be nice to have Michael’s mom Judy live next door because she would come down to visit and loves being on the lake. We had a running joke that if the house next door ever sold she wanted to buy it.
And then we were talking to our neighbor and realized that he was ready to sell the house and move on. We worked with our neighbors and our mother in law and arranged a deal to buy the house. Once we, you know, made the deal we needed someone to formalize it and handle the closing. Sultana came highly recommended, so we reached out to her and she immediately responded. Sultana drafted the contract and set up the closing, and everything went just perfectly. We got all the information to make it very, very easy for us. It was almost so easy that I forgot we were even closing on a house because there was so little we had to do.
My mother in law was not used to virtual signing and online transactions, but she was able to follow the portal and see exactly how things were progressing. Sultana and her team were always very good at reaching out and making sure that Judy understood what the process and the steps were and helping to explain. They were able to walk her through the system through it and make it very easy. Since Judy was doing the electronic signing, and she had never done anything like that before, they were very good about explaining the process of how to do that. There was very little for any of us to do, everything was done on time and it was very pleasant.”
The closing process can be confusing and complex to both you and the buyer. There may be last-minute disputes about delivering possession and personal property or the adjustment of various costs, such as taxes. If you are the only person there without a lawyer, your rights may be at risk. Let us help you achieve peace of mind when making one of the biggest financial transactions of your lifetime. We promise cooperative rates, great communication, and amazing service.