I want to sell my house on my own, NO REALTOR

[Varinder Kumar]

I would like to sell my house on my own to save on commission fees. I live in CA so it is legal for me to sell my own home. I need some guidance however as to what paper work is involved and how i go about getting that paperwork. Just need a guideline as to what to expect when dealing with the buyers agent. I dont want to pay closing costs either. What costs and duties are required by me "the seller" during this transaction, what do i need to provide title report, inspection report when needed who pays for that? etc. Thank you for yall's help.

[Aaron Lovett]

Hi @Varinder Kumar - keep in mind that this is all negotiable.  You don't want to pay closing costs, neither does the buyer.  You want more money in your pocket, the buyer wants more money in his.  You don't want to pay commissions, the buyer's agent doesn't want to work pro bono.  

As for what to expect when dealing with the buyer's agent:  

First, they likely have a contract with their client that states that if the seller refuses to pay their commission, the buyer will pay it out of pocket.  Buyer's tend to move on to the next house when that issue comes up.  Offering a fair commission up front to the buyer's agent can help ameliorate that problem.

Also, the buyer's agent often has to do extra work when working with a FSBO, for just the reasons made clear in your post. Agents have experience and resources for making sure the transaction happens smoothly and legally, whereas owners doing FSBO often don't, and so often lean on the buyer's agent. There's nothing wrong with that, but it usually results in more work on the agent's part to make sure nothing falls through the cracks. Keep that in mind when considering what a "fair" commission is.

Here is an FSBO irony: if you choose to offer a buyer's agent commission but your buyer is also representing themselves, they'll likely expect you to reduce the price by that amount of the buyer's commission! After all, if you were willing to pay a commission, why not reduce the sales price by that amount if you don't have to pay a commission?

You may do just fine FSBO, but it is usually the more difficult route. It might save you some money, just depends on how things go. Be sure to calculate the value of your time in marketing and selling the property, though - nobody should work for free! Whether or not it's worth your time and effort is really up to you and the conditions of your market. In any case, let us know how things go!