Law Offices of
Dorfman and
Sitzberger

Selling Your Property Without Realtor® Assistance

FOR SALE BY OWNER

Every year there are thousands of California property owners who wish to avoid the cost of a commission by marketing their property without professional assistance.

Selling a residence without the participation of one or more Realtors® is an opportunity for you to benefit financially by eliminating the cost of a commission.  However, you do assume significant risks by doing so.

YOUR RISKS AS THE SELLER

An obvious risk is that as you may not price the property correctly and as a result of asking too low a price you then receive a substantially lower price than the market would suggest.

The opposite circumstance is to price the property too high, discouraging potential buyers.

There is also a real possibility of entering into a sales contract that is flawed and lacks sufficient protection for you, and that results in subsequent costs for legal remedies.  Since California does not require parties to a real estate sale to include legal representation or review, this happens all too often.

There are many regulations that California has enacted designed to protect real estate buyers. Failing to meet the requirements of these buyer-oriented protections can expose you to significant problems and legal expenses after the sale is nominally complete.

Some of the most frequently ignored or misunderstood regulations are those relating to your obligation to disclose flaws or problems with the property that you are aware of, but the buyer may not be aware of.  Since it is only human nature to avoid bringing up negative information when trying to make a sale, it is tempting for any owner-seller to gloss over what may be later construed to be serious problems with the property leading to expensive settlement costs.

Obtaining legal advice when contemplating selling property without a licensed agent representing you is an inexpensive way to minimize or eliminate the possibility that you will face serious legal complications after your sale.  At a minimum let us review your contracts and supply you with the disclosure requirements with which you must comply.

Find out now how we can protect you by phoning the number above or by scheduling a consultation.

YOUR PROPERTY’S BUYER

When a potential buyer becomes interested in your property, whether represented by a Realtor® or not, you can be sure that he or she is just as interested in benefiting from your reduced cost of sale as you are.

That buyer may be represented by an exclusive buyer-broker or by an independent real estate broker. It is also possible that this buyer, like you, has decided to represent himself.

This raises three complications you must deal with when representing yourself as the seller in the transaction.

  1. An unrepresented buyer may be much more knowledgeable than you about the market and about the technicalities of the negotiation and structure of the sale.  For instance: an ex-broker who is not currently licensed is not constrained by laws and regulation designed specifically to ensure that he or she complies with seller protections, but they do have the skills and knowledge to make them very effective negotiators.  Such a buyer will most certainly make an offer that discounts the commission value of the sale.  In this case, you can end up with a net that is even lower than what you might have achieved with representation.
  2. A buyer who is represented by an independent broker will expect that broker to contract with you for the fee, and so you can end up paying the commission, thus lowering your net.
  3. A buyer who has contracted with an exclusive buyer-broker will have representation by a professional who has no obligation to you beyond honest dealing and still may expect you to pay all or part of their fee or commission.

A consultation with us will equip you with the knowledge you need to successfully represent yourself in your ‘for sale by owner’ transaction.  The cost will be a fraction of what a full commission would be.

The possibility of problems arising from a for sale by owner transaction is great, and legal help in formulating and completing the transaction is advisable.

We have assisted in hundreds of real estate transactions representing buyers, sellers, and brokers in all aspects of legal compliance.

Find out now how we can protect you by phoning the number above or by scheduling a consultation.

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11750 Ridge Road

Nevada City, CA 95959

Debra Sitzberger (530) 349-4790

Neil Dorfman (530) 559-6881

 

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