Are you considering selling a house without a realtor in Florida but aren’t sure where to get started? Many people consider selling without a realtor. While this isn’t impossible, it is very difficult and complicated unless you have a firm understanding of the real estate industry.
Why sell a home without a realtor? Firstly, most people think that it will save them money on the realtor commission. However, research shows that homes sold by owners sell for 6% less than those listed by an agent.
It’s important to note that mistakes made during the sale of your home can have serious legal consequences including voiding the sale of your home. selling without a realtor can lead to personal liability in the thousands in certain cases.
If you’re interested in selling without a realtor in Florida, there is certainly some important information that can help guide you through the process.
Here we break down the legal requirements of selling without a realtor in Florida.
Disclosure of All Material Facts
Like many states, Florida requires home sellers to disclose all material facts about the property. Material facts are those that would affect the homebuyer’s desire to buy or how much they are willing to pay. Florida goes one step further, requiring that all material facts the homeowner knew or should have known must be disclosed. That means that issues with your home that should have been discovered during routine inspections or common sense also have to be disclosed to the homebuyer.
Contract for Sale
There are two different types of contracts that may be used for the sale of your property: the Residential Contract for Sale and Purchase or the “AS IS” Residential Contract for Sale and Purchase. The latter is used for properties that are being sold “as is” and releases the home seller from making repairs on the property.
These contracts must be both precise and comprehensive – no detail can be left to chance. Examples of topics that are covered include, but are not limited to:
- Personal property
- Financing contingency
- Closing date
- Title and survey
Additional Documents Required for a Valid Sale
In addition to the contract for sale, the following documents are required for all Florida real estate sales:
- Two forms of ID
- Copy of purchase agreement and addendums
- Closing statement
- Signed deed
- Bill of sale
- Affidavit of Title
- Other pertinent documents that are unique to your circumstances such as loan payoff information and HOA information
Beware Additional Costs
You should also be aware that there are additional costs associated with selling your home that you may not have budgeted for. These include:
- Title insurance
- Cost to cure any title or survey defects
- Governmental costs
- Non-governmental costs
- Seller’s attorneys’ fees
- Other costs
Sell Your Home Fast and For Top Dollar With Your Home Sold Guaranteed Realty – The Cachon Team
At Your Home Sold Guaranteed Realty – The Cachon Team, we sell homes fast and for top dollar. Let us help you sell your home for 6% more than if you sell the home yourself. Call us today at (239) 399-5432. Or you can also contact us here or fill out the form below for an immediate response.