How Can an Attorney Help With FSBO Transactions?
Some people looking to sell a home think it is a good idea to cut out the middleman and offer a property directly to a buyer. A "for sale by owner" (FSBO) transaction FSBO transactions may seem quicker and more cost-effective, but they can involve complex legal requirements that an attorney can help you navigate. A Texas real estate lawyer can help protect your rights in these sales, looking out for your best interests from start to finish.
Having a practical attorney at your side can make a real estate sale much smoother to navigate. At Geoff Mayfield, Attorney at Law, we have over 15 years of experience helping clients with real estate concerns. When you work with our firm, we will do everything we can to facilitate the smooth sale of your property.
Negotiating a Purchase Agreement for a Home
Working out a purchase agreement with a potential buyer is rarely a simple process. Before you can move forward with a sale, you will have to prepare a contract to establish the terms of the transaction.
Buyers typically arrange inspections to make sure the home is up to code, but as a seller, you may choose to obtain a pre-listing inspection to identify and address potential issues early on. You should also include contingencies, which are terms that you and the buyer must honor. If a contingency has not been met, the buyer can back out of the deal. At Geoff Mayfield, Attorney at Law, we can help you draft a contract that satisfies both you and the buyer with minimal stress.
Conducting a Title Search on a Real Estate Property
When a real estate property changes hands, figuring out who legally has a claim to the property can be difficult. This can lead to disputes later down the line that can inconvenience both you and the buyer. To settle this issue ahead of time, a skilled real estate attorney can run a title search on the property.
A title search can clarify who owns the property, addressing any issues about boundary lines or other claims on the home. Once the title search is complete, you can move forward with the sale of the property, allowing you to smoothly hand over ownership to the buyer.
Giving Proper Disclosures During a Sale of a Home
If your property has any defects that could affect the buyer’s health or safety, you will have to disclose those defects during the sale. This is known as providing disclosure to the buyer.
Texas law requires most residential property sellers to provide a written disclosure form identifying any known defects. Failing to do so could result in liability for breach of contract or even fraud.
Providing disclosure to a home buyer should not be overlooked, as it could cost you much more than you think it could save you. At Geoff Mayfield, Attorney at Law, we can help address proper defects on your property so that nothing is left unclear in the purchase agreement.
Meet With a Comal County, TX Real Estate Lawyer
If you are looking to sell a real estate property, our San Antonio, TX FSBO attorney is here to facilitate the process. To schedule a free consultation with Geoff Mayfield, Attorney at Law, call our offices at 210-535-0870 today.