I'm considering FSBO in Laguna Niguel California

[Brad Rondeau]

Hi, I've bought and sold several homes - but mostly with a realtor.  I did buy one home many years ago from a gentleman that was very familiar with the process and it went quite well.  I'm retired now and I have time so I'm considering selling my condo in Laguna Niguel by myself to save a huge amount on commission.  Two condos (same model) are currently in escrow for around $600,000.  I'm considering $590,000 - it has been a rental for 10 years and is a little rough but I am putting in new  laminate floors/carpeting, 4" baseboards, interior paint, one new shower/bath, re-grouting other shower/bath and getting caught up on all deferred maintenance.  

Is there good information on how to complete a FSBO transaction in CA? I will need to find a good escrow company and all forms required. Does it make sense to use a Real Estate attorney or would that just wipe out much of the money I am trying to save?

I've also heard there are new web based companies that will help sell the home for a much smaller fee.  Any suggestions?   PS - I would expect that there are lot of realtors that will tell me how stupid it is to sell this myself.  Thanks - Brad

[Tyler Hungerford]

Hi @Brad Rondeau! I figured I might chime in and maybe offer some help and info for you with regards to FSBO.

First and foremost, making sure that the property is turn key and ready to sell is SUPER important when you're doing a FSBO. A lot of people that sell their own properties tend to try and sell them way too high, they sit on the market for forever, and then they end up using a realtor in the end. So I like your idea of being a little bit below market. I would stress that you try and make your property look and feel as close to those high comparable properties as possible! That will ensure you get a great resale price.

Another thing I would stress is, make sure that you do offer some kind of commission if a realtor brings in a buyer for you. That will make sure that realtors will show your property to prospective buyers. Because realtors can sometimes be greedy, they won't always show properties that are for sale by owners because commission isn't included in a sale. Giving 2.5-3% would be helpful for you to get it sold quickly. You may even want a realtor to hold a couple open houses for you. Walk the neighborhood, hand out flyers, market on Facebook, Craigslist, Instagram, Zillow, etc to try and get as many people there as possible. 

Another thing you should think about is disclosures. Those are important for EVERY transaction in CA. We never know whats going to happen in real estate as I'm sure you know, so having everything disclosed to the buyer is super important. 

I definitely don't think you're stupid for selling this yourself. 

Whatever you do decide, there is a lot of us on here that would be happy to help you. If you do decide to sell this on your own, you should consider hiring a transaction coordinator company here in California. Typically the people that work on files have their real estate license and charge a minimal fee to help provide you the disclosures you'll need to close any escrow. 

Hope this gives you some help!! Best of luck Brad!