For sale by owner sign in front of house

Thinking of For Sale By Owner (FSBO)???

  • February 19, 2014
  • devinlucas

Real Estate Attorney Devin Lucas can facilitate your For Sale by Owner or private sale with ease and security. We do countless For Sale by Owner, private sale and family sales throughout the state of California – it is a significant part of our business.  Learn more about how we may be able to assist with a for sale by owner, including pricing, on our for sale by owner homepage.

Review the below article to discussing some of the inherent downsides of selling for sale by owner.

Attention Newport Beach, Costa Mesa and Orange County homeowners thinking of For Sale By Owner (FSBO) – According to the National Association of REALTORS® 2012 Nationwide Profile of Home Buyers and Sellers, the typical For Sale By Owner (FSBO) home sold for 20 percent less than homes sold with the assistance of a REALTOR®.

 While many owners may have success accomplishing a home sale by themselves, especially in a hot sellers’ market (and a buyer is likely to get the better end of the deal via reduced price), California has daunting disclosure requirements and legal complications, not to mention marketing, marketing, marketing to get the maximum exposure of your property.  Non disclosure contentions are among the most common post-sale legal disputes (i.e. failing to adequately disclose all issues is a recipe for a future lawsuit).

Sure, deals can get closed, and perhaps money is “saved” via skipping a real estate professional, but that’s not the whole story.  What could a real estate professional have brought to the table as far as marketing, exposure, price setting and negotiation, paperwork, showing preparation and more?  A strong agent on the other side is likely to win concessions from an owner lacking representation, hence why typical FSBOs go lower than REALTOR® sold properties.

Solution / Suggestion – At least explore your options – interview three or more local REALTORS®, ask about pricing and what they bring to the table for the commission; If you want to handle your own marketing, at least consider an attorney, such as real estate attorney Devin Lucas, for the significant legal paperwork, proper disclosures to protect yourself, and perhaps even involvement in the negotiation aspect.

While FSBO sounds intriguing, a good real estate professional will almost always more than pay for themselves via stronger marketing and negotiation on your behalf, not to mention assistance throughout the complex paperwork process.

-Devin Lucas

Author Devin R. Lucas is a Real Estate Attorney, Broker and REALTOR®, specializing in Newport Beach, Costa Mesa and Orange County, serving individual, investor and small business interests in real estate.  Active with the Newport Beach Association of REALTORS®, Devin R. Lucas Real Estate is an independent real estate brokerage and law practice located in Newport Beach, California.

Devin R. Lucas Real Estate
Real Estate Attorney | Real Estate Broker | REALTOR® | | BRE No. 01912302
949.478.1623 office | 888.667.6038 fax

2901 West Coast Highway Suite 200
Newport Beach | California | 92663-4023



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