DRI Title & Escrow is here to help you with your For Sale By Owner (FSBO) transaction. Selling by owner helps you put more money in your pocket, but you may or may not know that you still need a title company to help with closing services and title insurance. We will help you navigate selling your own home from start to finish.
For Sale by Owner Services
If you sell your property by Owner, it can be intimidating to determine what comes next. DRI Title & Escrow can help make sure you have a seamless closing and the proper title insurance for peace of mind. We will guide you through the necessary steps and make sure all the details of your sale are handled in a timely manner.
The purchasing party of the transaction generally completes the purchase agreement, signs it and submits it to the seller, along with a check for the earnest deposit made payable to the title company. Upon receipt of the documents and earnest deposit the selling party can simply accept the agreement and the contract and it becomes a legally binding. The selling party may also counter with further stipulations regarding the transaction. Once both parties have signed the paperwork, the paperwork is submitted to the title company.
If you need a conference room as a place to meet and finalize your paperwork, this can be made available at DRI Title & Escrow. Please contact us to setup a time to come in.
To complete the FSBO transaction, you will need to complete a purchase agreement. To download the printable documents, click on the links below to download the agreements. If you need assistance with this, contact us and we will have an attorney help you.
Steps for Selling by Owner
What You Do:
- Prepare your home for sale.
- Determine your selling price.
- Advertise your home For Sale by Owner.
- Show your home to prospective buyers.
- Get your home under contract.
What We Do:
- Collect and hold the earnest deposit until your home closes.
- Perform a search of the public records to determine if any title defects will impact closing.
- Prepare the deed and other paperwork for the seller to execute.
- Pay the transfer tax fee and recording fees required by the county.
- Handle the property tax pro-rations at closing.
- Work with seller’s lender to pay off existing mortgages.
- Work with buyer’s lenders to execute loan documents and to fund the purchase.
- Collect all signatures on the day of closing.
- After closing, record all necessary documents in the public record to complete the transaction.
- Pay off third parties such as property insurer, home inspectors and pay-off lender.
- Provide Seller with all the net proceeds after closing.
- Issue a title insurance policy insuring against any defects to title.