Top 3 Risks Of “For Sale By Owner”?

Experieced Real Estate Attorneys Assisting Washington’s Property Owners with Legal Transactions

When you consider selling your home or another piece of real estate, it can be tempting to forego hiring a real estate lawyer, realtor, or similar professional, and handle the sale yourself. Such sales are often advertised as “For Sale By Owner” situations – and while they can appear to save time and money, they can also have dire consequences.

Why should you seek professional assistance when taking the “For Sale By Owner” route?

1. You deserve fair negotiation of a fair contract.

Real estate agreements in Washington can be complex, including several pages of “fine print” covering many of the complexities of our state’s real estate laws. With an experienced lawyer on your side, you have an advocate who understands these provisions and the laws behind them. Your lawyer can make sure the details you need are covered in the contract and can help you avoid provisions that could harm your interests.

2. Your lawyer can minimize the chances that liability will catch you unawares.

Everyone makes mistakes. If you make a mistake in your home’s listing or in other steps of the selling process, however, you may leave yourself open to a lawsuit that could cost you dearly. An experienced real estate lawyer can reduce this risk significantly by attending to details in order to protect your interests. Your lawyer can also help you ensure you purchase appropriate insurance coverage, where needed, to protect against errors.

3. Scams happen.

Both sellers and buyers should be alert for scams whenever they enter a real estate transaction. When you advertise your transaction as “for sale by owner,” however, potential scammers become more interested. They know that many “for sale by owner” transactions involve owners whose expertise is in a field other than real estate law – making them easier targets than attorneys or realtors. Avoid scams like fraudulent paperwork, foreign buyer or bad check deposits, and identity theft by working with a lawyer who can alert you to “red flags” before they cause serious harm.

Work with an Experienced Washington Real Estate Attorney

At Bolan Law Group., we focus on understanding and representing the needs of our clients in their real estate transactions, so that they receive a fair deal that includes the details that matter most. To learn more, call us today at (253) 470-2356, or fill out our online contact form – whichever is more convenient for you.