We have represented numerous sellers of real estate when the real estate is FSBO (For Sale By Owner). The seller then doesn’t have to pay a real estate agent’s commission. They find that we as their attorneys are a lot cheaper.
What we do for the seller is help put together the transaction and guide them through it. This includes the real estate contract itself with the buyer,assisting them with offers that come in and responding to those offers, setting them up with the title company for the closing, making sure that the seller provides the notifications and documents necessary under Ohio law that they have to give to the buyer.
In sum, we act as their quarterback to help them to and through the closing. What we don’t do is market the property or advise them on the market value of the property. Our role is legal. Many sellers who sell FSBO, believe they understand the market, know the value of their property, feel they don’t need the multiple listing service to sell their property, and therefore choose not to list with a real estate agent.
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