When trying to sell your home as a for sale by owner, or FSBO, proper understanding and planning is required before starting. Just like traditional home sales, FSBO includes the basics, such as the opening and closing of escrow. Yet, without a real estate broker, all of the responsibilities are transferred to you. Orlando closing agent, Real Estate Closing Solutions, offers an easily understandable guide to help you close your house as a for sale by owner.

  • Closing: Just like traditional closings, a FSBO home’s closing is the transfer of ownership of your home to the buyer. Your home’s closing must at least include you, your buyer, as well as a settlement agent. The setting of the closing can be of you and your buyer’s agreed choice but usually most efficiently held at the closing company’s office.
  • Scheduling: Set a definite closing date once all agreements are made. Most times, home closings are performed 45 to 60 days after the contract is accepted. This gives time for the completion of the buyer’s mortgage approval, especially with all the new lending regulations that went into effect October 3, 2015. Once the date is agreed upon, have it scheduled with a settlement agent.
  • Pre-Closing: Prepare for closing once the contract has been accepted. This should be the time for the buyer to inspect the home and for the lender’s appraisal of your property. Make sure to get a payoff settlement from your lender and be ready to resolve any title issues.
  • Closing: Your sale transaction will involve many documents in regards to transferring of ownership, as well as buyer property acceptance. The settlement agent should prepare all documents for you and your buyer to sign as well as handle all the transfer of funds and payments. In addition to this, the settlement agent also secures and guarantees that your mortgage loan will be paid and the remaining sales will be transferred to you.
  • Post-Closing: After successfully closing, confirm the settlement agent recorded the required documents. If the buyer is to move in right away, provide the buyer with the property keys. Otherwise, observe all of the terms of your post-settlement agreement.

Closing your house as a FSBO can save you money, but the proper knowledge and experience is needed to make your real estate transaction successful. Real Estate Closing Solutions is an Orlando closing agent that provides services for FSBO as well as provides knowledgeable Realtor referrals if you later choose to engage a Realtor to sell your home. Our supportive team can help you save by providing you with the closing and title expertise needed. To learn more about our FSBO services, read online here.