[txbob34]

I am selling my designer house in Marsh Bend (south of the turnpike). My neighbors are telling me that this neighborhood is one of the most desirable in this area as its next to the softball fields and stores. They are also telling me that several people sold their homes by owner within days of advertised it and used a real estate attorney to draw up the contract.

I was told that a couple of the people who sold it on their own had consulted a Villages realtor who recommended selling their homes for considerably less than they ended up selling on the own.

Being the market is so hot at the moment. What advantage is there selling a house using a realtor vs using a real estate attorney to write the contract?

[dewilson58]

May want to look online for a "contract", forms are out there.

For $30k of broker fees, a little self-work is pretty good money.

[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.

[Babubhat]

Cost is your time. I have never used a realtor in selling my houses. In this market I can’t believe a realtors added value is anything close to their fee

[wisbad1]

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.

McLain and Burnstein charges $1000. to do all

[txbob34]

Originally Posted by wisbad1

McLain and Burnstein charges $1000. to do all

Thanks for the information.

[txbob34]

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.

Thanks. Sounds like the FSBO package is just the ticket.

[Boomer]

In TV? In this market?

Absolutely try it yourself.

People are now popping in to this thread to recommend local title companies that will take care of the paperwork for you at a whole lot less than 6%.

If you have never FSBO’d, you might want to read up on things to do before showing your house. Of course, you know about how it should look its best, but don’t forget things like making sure there are no prescriptions in the medicine cabinet or anything around that can be easily picked up. (Yes. I know, all Villagers and potential Villagers are the salt of the earth, all 150,000 of them……uh,huh.)

I cannot imagine that you would need to bother with an open house. But I guess you could if you want to. You should have a buyer fast and have no need to mess with the lookie-lou crowd traipsing through.

You can get a feel for pricing by looking at sumterpa.com and at ads and by going to open houses for houses that are comparable to yours. (Yes. I know. That’s being a lookie-lou.)

Speaking of being a lookie-lou, I have gone to open houses for the specific purpose of meeting the agent and basically conducting an interview — during a time when there were no “live ones” for the agent to talk to. (I would never monopolize an agent on duty in an open house when they have potential buyers on the premises, but eventually there will be a lull.) That is how I sometimes have found agents to sell our own houses. All agents are not created equal. I see working with an agent as being like going into business with a partner — so I have always made sure it’s a match. We have sold via FSBO and also with agents. It just depends on what we think we want to do at the time.

You probably already know this, but……..

If the house is your primary residence and you have lived in it for 2 years, there will be no capital gain tax on any profit……..

But I am not an accountant, so check that one, but I don’t think that part of the tax law has changed since it went into effect in the 1990s. I always liked that 1990s change because it has allowed a lot of regular people to make money on their own houses. I can remember the days when if you did not buy a more expensive house after selling, you were taxed on the profit from the sale of yours.

If it is not your primary residence, then at income tax time, make sure you have good records and receipts for any improvements you have made to the house and any associated selling costs. The amount you have spent will help you close the taxable gap between what you paid for the house and your selling price. (Again, check the tax stuff with someone who actually knows what they are talking about.)

My guess is that you will be receiving PMs from people who are reading this thread.

Do your homework and go forth and make some money.

Good luck.

(Phew…..The OP asked for the time and I built him a clock. Oh well, that is enough from me today. I can always tell when I am procrastinating with TOTV when I have things in my real life that I do not want to do.)

Boomer

[manaboutown]

"KEY TAKEAWAYS
You can sell your primary residence and be exempt from capital gains taxes on the first $250,000 if you are single and $500,000 if married filing jointly.
This exemption is only allowable once every two years.
You can add your cost basis and costs of any improvements that you made to the home to the $250,000 if single or $500,000 if married filing jointly."

From: Do You Have to Pay Capital Gains Tax on a Home Sale?

[wisbad1]

You know you are taking thousands of dollars away from some realtors pocket. Boo hoo .

[AZ SLIM]

Does Florida require a seller's disclosure statement?

[ldovermiller]

Stay away from the Village's realtors, they stuck it to me. License to steal!!!!!!!!!!!!!

[tsmall22204]

Why don't you ask your neighbors you have taken their advice until now.

[bowlingal]

Txbob...I would not say Marsh Bend is the most desirable at all. Not even close. Why are there so many houses for sale south of 44? And these houses are only practically brand new or a couple of years old. Makes you wonder...............

[RICH1]

Lol…. Best one yet April fools
Got me