Transcript

Are there advantages to selling my home without an agent? | Freilich Law | Michael Freilich | freilichlaw.com | (410) 321-0040

Absolutely, advantages are, you control the transaction. You can hire a lawyer to write the contract. You can hire a lawyer to explain to you what you need to do in terms of pre-sale. For example, do you need a dresser to make it look, someone who makes the home look more attractive? Do you need to get rid of clutter? There are people who do that who are independent that’ll do it. And then you have to advertise and market it. If you have a buyer built in, you save a commission. Commissions run between 5 and 7%, so on a $300,000 house, that’s a lot of money, and you may be able to save it, and the attorney’s fee may be only between 1 and $2,000. Else when you go through a realtor, you use the realtor standard form contract. When you go to a private attorney, he can gear the contract to the transaction and make it a seller’s contract as opposed to a buyer’s contract. Most standard form contracts are for the realtor, and then for the buyer.