For Sale By Owner

Our company has extensive experience helping buyers and sellers navigate the for-sale-by-owner process. Below is an informal guide to buying a for-sale-by-owner property.

What is a FSBO?

FSBO simply stands for “For Sale By Owner”   When buying a FSBO you may or may not be represented by a real estate agent. In either case, our extensive experience in handling properties that are for sale by owner will give you peace of mind throughout the settlement process.

Some tips for buying a FSBO:

If you are purchasing a home without the assistance of a real estate agent or attorney, keep in mind the following tips:

1. Develop a relationship with a mortgage lender before you start shopping for a home. A mortgage professional can assess your financial situation and help you decide your price range. If you would like a recommendation of lenders that we know and trust, please contact us.
   
   
2. Once you’ve identified a property you are interested in purchasing, you should consider contacting your insurance agent to obtain a C.L.U.E. report on the property. This report will provide you with information about the insurance loss history.
   
   
3. The Agreement of Sale should contain all terms and conditions of sale. Since an Agreement of Sale is a contract, it’s advisable to have a licensed attorney review it prior to its execution.
   
   
4. Provide adequate time between the signing of the Agreement of Sale and the settlement date. This gives us and your mortgage lender enough time to prepare for settlement.
   
   
5. Notify your lender that you will chose the title insurance provider.
   
   
6. Order title insurance as soon as you have an agreement signed by both parties – this will allow us to process your transaction in a timely manner. You can fill out our on-line form, fax us the Agreement of Sale; or give us a call.
   
   
7. We can hold the earnest money deposit required under the Agreement of Sale.
   
   
8. From here on in, we’ll work with all the parties to provide a smooth, worry-free settlement.

If you have any questions on buying a FSBO, please contact us.

North American Land Transfer – A residential and commercial agent providing title insurance to homeowners, real estate agents, lenders and attorneys in PA and NJ.