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My tenants would like to by the home they are renting from me. I prefer not to use a realtor.

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December 17 2008 - Dallas
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RIGHT !! DON'T use a Realtor to sell or buy a car,get a home loan, home furnishings, pay your taxes, defend you in court,get medical insurance, have a surgery, get to school or go to college,schedual a vacation trip, etc. ALL THESE THINGS you CAN DO on your own!! This is America, it is allowed. The same laws that allows you to "do it yourself" has set up a SPECIAL SELLER and BUYER PROTECTION GROUP to make certain that all the laws are followed in "selling or buying a house". GUESS WHAT IS THEIR NAME? No it is not some tv real estate guru, selling you a real estate course, No, its not a local real estate investor group. No its not a lawyer assistance or tenant advocacy group. Let me give you a HINT. They must be LICENSED by the STATE. They must have CONTINUING EDUCATION CLASSES every year or two. They PAY TAXES, they are not a non-profit using tax payer funds.CAN YOU GUESS?? They are not real estate sales people working a FSBO (for sale by owner) Web Site. THIS GROUP IS ??.... e-mail me for the answer (if you don't know) JT@houseJT.com I WILL HELP YOU find someone in your town, county or state, ok? There is NO FEE for my service to you. Hope this helps.
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March 20
Profile picture for MariaMorton
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How are your tenants going to purchase your home? Cash or financed? If financed, have them check with their lender to find a title company close by. The title company can run the title check and close the sale as well do the recording of deed transfer with the county. You need an attorney to represent your interests; the buyers need one who will represent theirs. Ask any of the above people to recommend a whole house, radon, and termite inspector. Check with your local HUD office to get a Lead Based Paint pamphlet if the house was built before 1978. The booklets are easily obtainable as it's a federal publication. If you choose to offer them a home warranty, call the company that maintains your HVAC system and see if they offer warranties. Have the buyers put their homeowners insurance in place to coincide with the day of closing. Switch the utilities into their name the day of closing. I think that's all. Congratulations!
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March 12
Profile picture for 2116pioneer
Realtors are sales people. They are not qualified or permitted to dolegal work.
Get a real estate attorney to be protected. The buyer should do the same.
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March 11
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Lynn 911 Realty

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Did you realize per Texas state law for any seller including FSOB you must follow statues or you could be sued.

Why sellers or buyers use realtors for e&o insurance.

You can request a realtor work all for a flat fee.

Any other questions contact me
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March 11
Use a Realtor anyways...I work the DFW area and you can get a competant Realtor to help you with the paperwork and protect both you and the buyer for $500-1000.  That's cheaper than a real estate attorney and money well spent.
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February 23
Profile picture for akoi
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Ues a Real Estate Lawyer, You already have a purchaser for your home....half the battle is finding a buyer, they are few and far between...you have the best of both worlds...just do it. Make sure the tenants know what thier doing...
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January 30
He did not tell me when he sold it to me that I should get a termite inspection, Your in Texas, so a foundation survey (I think.), a home inspection. Nope I did not get a home owners warranty either, your honor. But your honor, I sold it "AS IS." "Rasberries" The list goes on and on. You need advice to protect yourself and the buyer. And as others have said, you do not need to pay a premium for that service, to do this yourself is asking for trouble. So nothing goes wrong. Great. But, if you did not disclose something or something goes wrong, to protect yourself against a judgement, than that fee would have been money well spent. THink of it as an insurance policy and a partner to litigation.
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January 23

You alwsys get what you pay for. If you are ill do you demand a discount from your doctor?  

Many discount  lawyers have former clients who have never won a case.


Maybe  the tenant know something that you don't?  Perhaps your home price is being devalued because your rent is too low?





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January 23
Profile picture for wetdawgs
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davidslavin:   Do you know any realtors who will do this transaction for $200 to $500?  Yes, both the lawyer and the realtor want a fee but the realtor tends to want a commission of an outrageous percentage.
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January 20
Profile picture for wetdawgs
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There is no reason to use a realtor, but to do this legally with both sides protected I would suggest both use a real estate attorney or at minimum use the approaches and documents from a FSBO organization. 
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January 20
Profile picture for apolline

If you and your tenant already agreed on a price and basic closing terms just take that info to your lawyer and he can draw up a contract for your tenant/buyer to sign. You do not need to hire a realtor, broker or anyone else - keep the commission in your pocket.

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January 19
Profile picture for jeff4379
While I agree you should have a professional help you with the sale and purchase, I am positive that hiring a realtor at 6% is not the right answer.  At very least, use a discount broker that charges 4% or something like assist 2 sell, or some other FSBO company that will help with the legal work.
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January 19
Profile picture for azrob
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yes you should pay a realtor six percent of the sale even when you already have a buyer!!!

get someone to help you for a flat fee, like say $200. Even a real estate attorney can probably do this for less than one billable hour...
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December 17 2008
Here's an answer realtors don't want you to know. A good title company has an in house attorney All you have to do is use the title company for the title work and most companies will have their lawyer look at the contract at no charge and give you recommendations before the signing
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December 17 2008
Your tenant needs protection, he needs a Realtor or a Lawyer.
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December 17 2008
Profile picture for davidslavin
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Why don't you want to use a Realtor?  Realtors provide a service for a fee.  If you don't use a Realtor then you should use an attorney and they also frovide a service for a fee and probably a higher fee but you need to protect yourself in the transaction.  What you think as saving money by not hiring a professional to help you in the transaction could backfire in a lawsuit if you miss something.

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December 17 2008
 

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