Quote:
Originally Posted by retiredguy123
You will still need a title company to handle the paperwork, hold the earnest money, and prepare and record the deed. Tri-County Title is one company that will provide you with a free FSBO package. Other companies will too. Before you start to show the house, you need a sales contract, which is part of the FSBO package. You and the buyer can sign the contract, and the buyer can make out an earnest money check directly to the title company. I have seen people try to sell their house, but when they find a willing buyer, they don't have the necessary sales contract paperwork to formalize the deal, or a company to accept the earnest money, and the deal falls through.
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Do not use this company! I bought mine by owner confident that things would be easy, straight up deal being I sold realestate for 20 yrs ( supported 3 kids and a big house) and I did all the paperwork needed.
The title company was beyond incompetent! First , they got upset that I had the paperwork done( we were told in no uncertain terms we cost them over $500 by doing it ourselves) then , the paperwork they did was totally wrong in many areas. #1-They refused to let me see the title policy prior to close ( had I been in Mi.this would never had happened) they said that they never let buyers read prior( insane, legal ? Not sure..),#2 the numbers were totally wrong and we tried to tell her to fix it but she refused, seller wrote a check at the table for the correct numbers , I would not have closed it at all there that day if I did not respect the seller and know it would harm him had it not happened that day.#3 I have never worked with a title company that did not call the local assessors office to confirm homestead ect numbers, THEY did not even do this!!! My seller had only bought my house 6 months prior and had yet to recieve a tax bill, so assumed since he closed on it Jan 1, that it was homesteaded( yep, they had done his prior closing) NOPE! It was non homestead and cost me $600 more for this mistake( seller again wrote me a check) . WHEN I found this out and called them, in Mi. if the title company misses something or the numbers are incorrect, they bring both parties in and work it out..but never have I seen a title company( again,20 yrs in business, thousands of closed deals) be incorrect on homestead issues.
#4 I have never ever dealt with the rudeness that was shown to both seller and myself. The lady should not be in a public job!
Did I forget, I ask that my house go in my trust name( had copy of trust with me) ,they refused saying if I wanted that then they would need 4 weeks to close ( cash deal, again ,outside title, all paperwork was done) knowing the seller had a closing with The Villages later same day and it would cost him $$$$$ if he did not close on time( so of course, I did not put it in trust at that time)
Just a warning! If u use them, pay a lawyer to over see and make sure you hire a realestate lawyer. Not all lawyers understand realestate law( most I have sold homes to needed educated on thier sale or purchase) just as you hire the right doctor to do your surgery, even though it is legal for a foot surgeon to do plastic surgery.