Selling a house without an agent? (sale, lender, buyers)

[nehag]

A relative is thinking to sell his house, ended up with a private offer from a family friend prior to even talking to an agent to list it. Any advice what to do next? Should he go to a title company and engage their service?

Thank you.

[DSL_PWR]

Yes. He will need to use a title company to finalize all the paperwork.

[Sampaguita]

We had a similar situation - our neighbor sold their house to my parents. We generated the contracts on-line and then submitted everything to the title company. It was a cash transaction, so fairly simple. My brother is in the middle of a fsbo right now and they are doing the same except have a lender in the mix.

[PedroMartinez]

Yes, he will need to engage with a title company. Make sure he picks a reputable one and not one suggested by the buyer. I sold 2 lots on my own once, and it wasn't a big deal. It was nice saving the 6%.

Tell him to NOT fudge on anything to "make the sale easier". Follow the instructions of the title company to a T and be upfront and honest on every part of the transaction with the title company. A lot of people have made costly mistakes because shiester buyers have them deceive the title company "to make the sale easier".

[nehag]

Thank you all for your advice. It is greatly appreciated.

[Sampaguita]

Just wanted to add that we've used Stewart Title twice now and everything went very smoothly. In my brother's transaction, the seller wants to use Chicago Title but we're encouraging my brother to insist on Stewart Title since we already have a relationship and really feel that as the buyer it's in his best interest to pick the title company since the buyer has to deal more with the title company than the seller (in our experience).