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Discussion Starter · #1 ·
I am selling my home by myself. I thought a purchaser drew up his/her offer and then the seller and purchaser drew up a Purchase Agreement after they agreed on the terms. Am I wrong? I am in Indiana in case each state is different. Thanks.
 

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Read the contract you had when you bought your first home. There is so much more to it than what you said...or download a standard real estate contract from the web ... From your state. There are too many things that you need to know to protect yourself to just write it up yourself.
 

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What you pay for a lawyer - once you find a buyer - would be better spent in my opinion on a reputable realtor who will look out for your interests every step of the way - including screening people they show the house to (except for open house).

The realtor will set up all of the stipulations (draperies stay, appliances, etc.) in the contract and will arrange appointment with the title company - who also has attorney on staff to look out for your interest.

In my opinion, he/she is worth his/her weight in gold - and takes pressure off of you to get it right and protect your interest.
 

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That's basically the process but you should know the exact way the laws read and every state is different. Selling your house on your own is a slippery slope. It sounds as though you may have a problem by the nature of your question.
 

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Let the professionals do their job. Spend the money for their expertise. Especially the lawyer who will be looking out for pitfalls. The realtor is also working with the buyer because he/she wants the commission. The lawyer works for YOU.
 

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Discussion Starter · #13 ·
The realtors in this area are like thieves. They want you to sell at a low price and then they get their commission on top of that. I have sold a home by owner - as far as getting the contract from my first home that was over 40 years ago.

The bank does all the legal work when you sell and the purchasers get the financing. If turns out to be a cash sell then I will get an attorney - I'm not that stupid.

I asked a simple question, but I'm not getting a simple answer.
 

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what you describe is the process. the buyers make you an offer and then you decide whether to take it or not. If you do the offer becomes the basis for the purchase agreement - because what they are offering should include "what they want" - you can counter it and add what you'll accept or what you reject. In most cases the offer and the purchase agreement are the same document - (we just bought a house in Kansas and that's how it was done - we've bought several in Maryland and the process was the same - we have both sold our own AND used a realtor). The title company we hired did all the work for the cash agreement. You can download an offer/purchase agreement form from the internet - or go to staples or other office supply store. They should have one that is specific for your state. Just remember that whatever is in the offer is legally binding if you agree to it. most buyers put in lots of loop holes in case something comes up they don't like - and in some cases can make you make repairs you don't want to make. IF you want to be sure you're getting the best price - hire an appraiser - they will tell you what the fair market value of the home is - then even if you decide to use a realtor you know what the home is valued at. makes it hard for the realtor to try to push down the sales price for a quick sale. The appraiser will give you a fair value because 1. you're paying him and 2. he doesn't have any interest in making the price high or low - it is what it is. When we've sold houses ourselves - we have used one - makes everything simpler when you come to negotiating costs.
 

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I agree, get a good realtor. We're selling a home in FL and we'd be lost without ours. Plus he handles showing, all paperwork and we only have to go back for closing. He's earning every penny he will get.
 

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kdpa07734 said:
I agree, get a good realtor. We're selling a home in FL and we'd be lost without ours. Plus he handles showing, all paperwork and we only have to go back for closing. He's earning every penny he will get.
I think the key word in your post "good". I have little regard for realtors. Have never had a good experience with them. Commission at 6% is way excessive in my opinion. I have seen them promise they can get an acceptable price until you sign a contract with them and then all of a sudden the low offers are reasonable or the market is down now. A whole different tune once you are tied to them for six months. The last house I sold ended up being to a personal friend and realtor did nothing and yet did not relinquish a cent of the commission. Two homes have been sold on my own and the buyer used a title company who handled everything for $350.00.
 
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