FSBO Real Estate Lawyer in Brookfield, Wisconsin
Serving Buyers and Sellers in Waukesha, Milwaukee, Ozaukee, and Washington Counties
The definition of for sale by owner (FSBO) is in its name: selling a home or property independently, without a real estate agent’s help. This method of selling has become increasingly popular in recent years, given the access the everyday homeowner has to listing sites and other real estate selling and buying tools. Additionally, FSBO is an attractive option for homeowners because it allows them to leave a sale with more money in their pocket than if they had used an agent.
Despite its benefits, FSBO demands a slew of legal work that can be difficult to navigate without professional help. From negotiating the terms of purchase for the home or property to ensuring the sale adheres to regulations and is supported by proper documentation, the legal aspects of FSBO can get complicated quickly. With the help of The Law Offices of Mark S. Knutson, S.C., however, it is entirely possible to reap the benefits of a FSBO transaction, while handling the sale’s legal matters with complete confidence.
If you are selling your home or property without an agent, contact us online or call us today at (262) 205-0705 to get our team of experienced lawyers on your side.
Why Hire an FSBO Lawyer?
For buyers and sellers alike, the most important reason to hire an FSBO lawyer is to avoid costly legal complications that can arise during sale or purchase. If one of the primary benefits of seeking an FSBO transaction is to save money, protecting that financial gain with legal assistance is key.
Additional ways a skilled FSBO lawyer can help a seller include:
- Guiding a seller through purchase negotiations
- Drafting and reviewing sale agreements and closing documents and ensure everything is compliant with the law
- Arranging title insurance, deed preparation, and the closing schedule
- Offering counsel if any complications arise such as a buyer backing out or a dispute over the terms of the sale agreement
For buyers, there is no need to avoid an ideal property just because the seller is not using an agent. The help of a skilled lawyer can protect buyers, helping them successfully handle an FSBO transaction.
Here are the specific things an FSBO lawyer can do for buyers:
- Represent a buyer through purchase negotiations and during any disputes
- Ensure a seller is following the law and review any necessary documents or contracts, allowing the buyer to avoid unforeseen complications
- Assist a buyer with questions about construction or zoning for the property or home
- Help a buyer successfully navigate closing
The FSBO Timeline
Although the timeline of the FSBO process is particular to every different buyer and seller, there a number things that should happen in every sale.
These imperative procedures are as follows:
The Offer to Purchase
The offer to purchase is the official document that initiates the real estate transaction for the buyer and seller. Once the buyer submits the offer, both parties can negotiate its terms; include necessary contingencies that concern financing, inspections, or appraisal; and draft any counter offers. Finalizing a purchase offer sets the ground rules for the sale and helps guide the processes that come after it.
Obtaining Title Insurance
Title insurance protects buyers from making a serious investment in a home or property only to find out it has code violations that are expensive to fix, there is a lien on the title, or other issues exist. In Wisconsin, the seller typically provides the insurance and pays its premium. This means it is important for buyers to obtain proof that the seller has appropriate title insurance.
Once the contingencies in the offer to purchase have been met and the buyer has the financing for the transaction, the parties determine a closing date. On this day, both buyer and seller sign various legal documents that make the sale official.
Throughout the above processes, the aid of a lawyer is crucial. At The Law Offices of Mark S. Knutson, S.C., our Brookfield FSBO lawyers have a wealth of experience helping individuals in Waukesha County and the surrounding communities go through one of the most important financial processes of their lives. Trust our experienced legal team to work to make your FSBO transaction as smooth and easy as possible.
Contact us online today or call (262) 205-0705 to find out how we can help you.