I am selling my house, myself, thru sale by owner, do I need a lawyer, to help with the sale of the house?

You’ve made the choice to sell your property without a realtor – Great! The savings on realtor commissions can be huge.  Does this mean that the process of selling a home will be any easier or less complicated? No. A recent report on mortgage closings from the Consumer Financial Protection Bureau describes real estate closings as confusion, stress, time pressure, cost and delays. A settlement agent/title company will be involved in the closing.  You have the right to choose who will provide those services.  Choosing the right attorney to assist you with the sale and serve as the settlement agent is critical to avoiding these common complaints.  My law firm provides those services. Get a Deal On Paper: Since no realtor is involved, someone will need to prepare a sales agreement. There are lots of form agreements available on line but beware; every agreement has a particular “slant” toward one party or another. Quality varies quite a bit. A poor quality agreement can give a buyer many “loopholes” that can be used to get out of the deal. You will want to make sure any agreement that you use is reviewed and modified by your attorney to make it most likely that the deal with close. Avoid Problems: Title searches, inspections and other items that happen during the time between the signing of the agreement and closing can cause major problems that can derail the deal. If you get an attorney involved before you sign a deal, that person can check to make sure that the title to the property is “clean” and will not pose any problems. You may think the property has “clear title” but title problems are fairly common. Get advice up front on potential issues, such as problems with the title, house, unpaid tax liens and old unsatisfied mortgages that could either derail the closing or give the buyer an opportunity to ask that you reduce the sales price. No Surprises at the Closing Table: Surprise fees and costs at the closing table are common complaints about real estate closings. Many consumers report that even though they encounter discrepancies that result in unease at the closing table, they often feel pressured to sign documents during the allotted time in order to avoid risking delays or even losing the deal. You should ask to see the settlement statement (HUD-1 Form) at least 24 hours prior to closing so that you can understand costs on the form, ask any questions that you have and get things clarified without feeling pressure at the closing table. Making the choice to sell your own home is making a choice to retain “control.” Using your own attorney to handle most aspects of the closing process is a great way to maintain control and ensure that the deal actually closes.