Sale of a Home Without a Real Estate Broker

Many people have decided to sell their homes by themselves. This allows them to save on the costs of paying a realtor. Our office can assist you by providing you with a real estate contract that incorporates all of the terms necessary to protect your interests in a real estate sale. In order to prepare a real estate contract we will need the following information from you:

  • Seller’s name and address;
  • Property address;
  • Purchaser’s name and address;
  • Purchase price;
  • Earnest money amount. This is the money tendered by buyer to a seller, to assure buyer’s willingness to complete the transaction (usually between 5 and 10% of the purchase price);
  • Down payment amount. This is the amount that buyer will pay in cash towards the purchase of the property, with the balance being paid by buyer’s lender;
  • The amount of the mortgage buyer will need to purchase the property;
  • Closing date;
  • Possession date; and
  • Permanent Real Estate Index number (optional).

Once we have received this information we can draft a proposed real estate contract that becomes operational when both parties agree to the terms and sign the agreement. The buyer then tenders the earnest money to the seller or the person designated in the real estate contract. For additional information and a free consultation, contact real estate attorney, Zbigniew Kois.