Greg Glaser : Attorney At Law

FSBO Flat Fee Packages

For Sale By Owner (FSBO)
Assisting Buyers and Sellers With or Without A Real Estate Agent

PROFESSIONALISM ~ CONFIDENCE ~ EXPERIENCE

Bronze Package: Beginning at $1,000

For this affordable flat fee, I provide professional representation to the buyer or seller (or both where applicable) with all aspects of 'For Sale By Owner' (FSBO) transactions, including full documentation of the purchase/sale, MLS listing, required property and legal disclosures, and coordination with escrow, title, lenders, and parties, and other administrative matters. This is a full-service package for no commission and is much less than the cost of a broker. Please call or email today to schedule a free consultation.

Silver Package: Beginning at $2,000

For a home purchase/sale above $700,000, this flat fee package gives the buyer and/or seller professional representation with all aspects of the transaction, including full documentation of the purchase/sale, MLS listing, property and legal disclosures, complete coordination with escrow, title, lenders, and parties, and other administrative matters. This is a full-service package for no commission and is much less than the cost of a broker. Please call or email today to schedule a free consultation.

With substantial legal and real estate experience, I also provide complimentary legal advice to my clients regarding taxes, trusts, title review, and so forth.

Gold Package: Beginning at $5,000

For owners selling a $2M+ estate, this flat fee package receives professional representation with all aspects of your sale. The gold package also includes legal advice regarding taxes and estate planning. Please call or email to schedule a consultation.

Customized Package: Special Pricing

For special transactions (i.e., lease option, family transfer), I offer customized flat fee packages as well. Please inquire.

Working Well With Realtors

Where a realtor is involved in the transaction (as the buyer or seller's agent), it is my pleasure to work cooperatively with them. One of the reasons that I like my FSBO practice so much is that it gives me the opportunity to interact with this vibrant group of real estate professionals. Over the years, I have learned a lot about both the real estate sales process and local preferences from realtors.

And I take special steps to ensure that realtors enjoy working with me too - this often includes using standard California Association of Realtors (CAR) forms to document the transaction (because realty offices are generally most familiar with CAR forms and prefer them), and confirming in the purchase contract that the agent will indeed receive their due commission.

FSBO Advantages

It is common these days to see properties in a For Sale By Owner situation. The typical real estate agent receives a 3% commission, paid from funds that would otherwise go to the seller (even if it is the buyer's agent). And if both the seller and buyer have agents, the commissions paid can be as high as 6%. FSBO gives that money back to the seller and/or buyer.

For example, if the purchase price is $600,000, and there are two agents involved at 3% commission each (6% total), the Seller must pay $36,000 in commissions. But in a FSBO, where the seller is not required to pay any commissions, he can choose to retain more of the purchase price or lower the purchase price as an incentive to purchase. For a $600,000 property financed with a 30-year loan, if the buyer receives $36,000 off the purchase price, it would result in savings to the buyer of over $100,000 over the duration of the loan.

FSBO Typical Process

In a typical for-sale-by-owner transaction, the parties follow this general process:

Tour: The buyer tours the property. Although not necessary, often the seller will have pre-printed materials on site for the buyer's review, such as the following inspection reports:

o Real Estate Transfer Disclosure Statement (TDS)

o Termite Inspection Report

o Natural Hazard Zone Disclosure Report (NHD)

o Any Sewage/Septic Report

o Any Well Inspection and Water Potability Report

Negotiate:The parties negotiate the basic sales price and closing costs, as well as any details about the property condition (i.e., any needed pre-sale repairs) and any fixtures (i.e., home appliances) that come with the property.

Financing: Some buyers obtain a pre-approval letter from their lender(s) before making an offer. These letters can be very useful to add to the attractiveness of an offer.

Contract Sometimes accomplished through a series of offers and counteroffers, the parties complete a purchase agreement.

Financial Details: The parties open an escrow account (often with a local title company or attorney) and give the escrow holder a copy of the Purchase Agreement (which will contain escrow instructions). The title company provides a preliminary title report and offer of insurance (i.e. CLTA or ALTA). The buyer deposits with the escrow holder any initial deposit defined in the purchase agreement.

Inspection and Disclosures: The seller makes the property available at a convenient time to any of the buyer's property inspectors. The seller also provides the buyer with the required disclosures. To view a partial list of California's numerous required disclosures, visit here: http://www.dre.ca.gov/pdf_docs/re6.pdf. By law, the buyer has a certain amount of time (i.e. 72 hours) after receiving a home inspection report (or key disclosure) that he can choose to cancel the agreement and receive a full refund of his initial deposit.

Payment: If the property inspections go well, the buyer (and any lenders) ensure payment into escrow of the funds described in the purchase agreement.

Finalize: Escrow simultaneously delivers a new deed to the buyer and the purchase money to the seller and any of seller's lenders holding a mortgage. Once everyone has been paid and the deed has been recorded, escrow is closed.

Move-in: The buyer moves in to his new home as soon it is available.

Greg Glaser Represents Buyers and Sellers

Counties served in the Bay Area: Contra Costa, Alameda, Marin, San Francisco, Santa Clara, San Mateo, Calaveras, Napa.