For Sale by Owner in South Florida
“For Sale by Owner” means that a person is selling their own house without the assistance of a real estate agent or broker. As Florida property values rise, we are seeing more and more for sale by owner transactions.
There are advantages to selling your home without a broker, including savings in costs (e.g., no commission) and controlling the process from start to finish. The disadvantage is that the property owner has nobody to consult with for advice or guidance as they maneuver through the process.
An experienced attorney/title agent can provide the support that an owner needs to complete a successful sale by owner transaction. The attorney can prepare the contract, hold the escrow deposit, handle the closing as title and closing agent, and solve any complications that arise during the transaction.
In a sale by owner transaction, there may be an opportunity to negotiate a sharing of closing costs that is different than the typical allocation – which in Florida is done by the custom of the county.
This may provide an opportunity for a seller to reduce some of the closing costs that they would normally be expected to pay. An experienced attorney/title agent can provide an estimate of the closing costs under the typical custom of the county – and point out the line items that could be negotiated to achieve substantial savings.