So You Found a “For Sale By Owner” and You Want an Agent to Write Your Offer?

 I’ve recently been asked to write an offer for a buyer purchasing a For Sale by Owner property. The buyer found the property and wonders why a fee for such a service shouldn’t be rock bottom.  If you think just writing an offer for someone is easy, take a look at the following list of required items involved in this task by the real estate agent:

  1. Verify ownership of the property
  2. Verify legal description and parcel id.
  3. Make introduction to seller.
  4. Obtain property disclosure from seller
  5. Ensure buyer’s desired offer terms are specified, such as offer price, earnest money, personal property included in purchase,  choice of title agent, closing cost assignment (who pays for what), closing date, inspection dates, etc.
  6. Ensure appropriate addenda are included, such as lead paint disclosure, condo rider, insurance cost limits, VA addendum, FHA addendum, etc.
  7. Ensure buyer is pre-approved to provide proof to seller along with offer
  8. Send offer to seller
  9. Describe offer to seller
  10. Discuss offer with seller
  11. Construct seller counter-offer and provide to buyer
  12. Negotiate offer
  13. Ensure finalized contract is sent to title agent
  14. Follow up on inspections, such as home inspection, termite/wood destroying infestation inspection, feasibility study, septic inspection, survey, appraisal for lender, provision for condo document review, coastal construction zone line disclosure, buyer pre-closing walk-through, etc.
  15. Ensure repairs are made if required as specified in contract and re-inspections take place if necessary
  16. Negotiate issues such as changed seller move-out date, buyer appraisal low, etc.
  17. Ensure title agent arranges closing
  18. Assume liability for errors in contract
  19. Assume liability in transaction follow up
  20. Assumar liability for whatever else can go wrong

Sometimes, the above tasks may be brief or easy, but often they are lengthy and can be complex.  Because a real estate agent has not found the property, driven the buyer around nor actually listed the home for sale, it does not mean that the tasks involved in just “writing” an offer can be diminished in their importance nor regarded as insignificant.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

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