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#5574967 - 01/31/15 01:05 PM Buying FSBO
TXHOGSLAYER Online   content
THF Celebrity

Registered: 01/12/12
Posts: 11962
Loc: Katy, TX
I am going to buy a house from the owner but have never done this without an agent. How does one do this? Contact a real estate attorney to do the contract? A title company? A bored real estate agent? What is a customary charge for this service?

Any advice appreciated.
_________________________
Originally Posted By: Cleric
I need some meat frown

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#5575076 - 01/31/15 02:12 PM Re: Buying FSBO [Re: TXHOGSLAYER]
Stevarino Online   content
Veteran Tracker

Registered: 01/25/10
Posts: 2072
Loc: Mckinney, TX
Print out and write up your own contract, and upon signing, contact a title company to open escrow. Fees associated with their services are typically due at time of settlement except maybe your appraisal and survey if needed.
http://www.trec.state.tx.us/formslawscontracts/forms/forms-contracts.asp

You may need an addendum or two if you are going into contract with a contingency or need to make any changes after an inspection.. Ect.

Read through those forms and if you need clarification , just call the title company you intend on using.

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#5575082 - 01/31/15 02:15 PM Re: Buying FSBO [Re: TXHOGSLAYER]
txtrophy85 Online   content
THF Celebrity

Registered: 08/12/05
Posts: 22036
^^^^

Terrible advise, that's a good way to make mistakes if you have never done it before

Pay a broker $500 to fill out the contract and go thru every item

Can also use an attorney but always use a professional when it comes to contracts
_________________________
Originally Posted By: Nogalus Prairie
I think the deer hunting shows and "Bro' Country" are going to be the downfall of this once-great nation.

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#5575115 - 01/31/15 02:33 PM Re: Buying FSBO [Re: TXHOGSLAYER]
Stevarino Online   content
Veteran Tracker

Registered: 01/25/10
Posts: 2072
Loc: Mckinney, TX
Too funny. Just like a broker to come in and tell you this. Any one can do this with out an agent.

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#5575175 - 01/31/15 03:28 PM Re: Buying FSBO [Re: txtrophy85]
dgilbert Online   content
6 pack abs

Registered: 09/04/04
Posts: 18695
Originally Posted By: txtrophy85
^^^^

Terrible advise, that's a good way to make mistakes if you have never done it before

Pay a broker $500 to fill out the contract and go thru every item

Can also use an attorney but always use a professional when it comes to contracts


Listen to him. up

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#5575221 - 01/31/15 03:48 PM Re: Buying FSBO [Re: TXHOGSLAYER]
Stevarino Online   content
Veteran Tracker

Registered: 01/25/10
Posts: 2072
Loc: Mckinney, TX
To the OP, do what you want, but I can assure you, you can do without an agent.

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#5575232 - 01/31/15 03:55 PM Re: Buying FSBO [Re: TXHOGSLAYER]
TXHOGSLAYER Online   content
THF Celebrity

Registered: 01/12/12
Posts: 11962
Loc: Katy, TX
Stevarino, thanks for your advice. I am sure that I could do it by myself, but would hate to make a mistake and have it ending up biting me in the bag.

I have no problem paying someone for their expertise when this much money is at stake.

So I pick a broker...I assume that they will have a title company that I can use or is that something separate? The title company will handle the inspection and survey?
_________________________
Originally Posted By: Cleric
I need some meat frown

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#5575241 - 01/31/15 04:05 PM Re: Buying FSBO [Re: TXHOGSLAYER]
Stevarino Online   content
Veteran Tracker

Registered: 01/25/10
Posts: 2072
Loc: Mckinney, TX
Most of your agents will have/ recommend a title company to use. It doesn't hurt to call a couple title companies on your own to receive quotes. Picking a title comapny is your choice, not the agents or mortgage broker.


Be sure you look over your brokers "work" so you know how to do on your own next time. cheers

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#5575440 - 01/31/15 05:48 PM Re: Buying FSBO [Re: Stevarino]
txtrophy85 Online   content
THF Celebrity

Registered: 08/12/05
Posts: 22036
Originally Posted By: Stevarino
Most of your agents will have/ recommend a title company to use. It doesn't hurt to call a couple title companies on your own to receive quotes. Picking a title comapny is your choice, not the agents or mortgage broker.


Be sure you look over your brokers "work" so you know how to do on your own next time. cheers


Question

How many real estate transactions have you done on your own?
_________________________
Originally Posted By: Nogalus Prairie
I think the deer hunting shows and "Bro' Country" are going to be the downfall of this once-great nation.

Top
#5575453 - 01/31/15 05:52 PM Re: Buying FSBO [Re: TXHOGSLAYER]
txtrophy85 Online   content
THF Celebrity

Registered: 08/12/05
Posts: 22036
Originally Posted By: TXHOGSLAYER
Stevarino, thanks for your advice. I am sure that I could do it by myself, but would hate to make a mistake and have it ending up biting me in the bag.

I have no problem paying someone for their expertise when this much money is at stake.

So I pick a broker...I assume that they will have a title company that I can use or is that something separate? The title company will handle the inspection and survey?


Title company does nothing but issue the title policy and commitment

It's up to you and seller to get inspections and surveys done.....title company has no responsibility arrange that

Do yourself a favor and get an agent on your side before you sign anything

In real estate, the only way you learn is by experience. Using a agent/ broker you are getting their experience gaind thru dozens of real estate transactions to help you get the best deal possible.

_________________________
Originally Posted By: Nogalus Prairie
I think the deer hunting shows and "Bro' Country" are going to be the downfall of this once-great nation.

Top
#5575514 - 01/31/15 06:33 PM Re: Buying FSBO [Re: txtrophy85]
Stevarino Online   content
Veteran Tracker

Registered: 01/25/10
Posts: 2072
Loc: Mckinney, TX
Originally Posted By: txtrophy85
Originally Posted By: Stevarino
Most of your agents will have/ recommend a title company to use. It doesn't hurt to call a couple title companies on your own to receive quotes. Picking a title comapny is your choice, not the agents or mortgage broker.


Be sure you look over your brokers "work" so you know how to do on your own next time. cheers


Question

How many real estate transactions have you done on your own?


Son son son, plenty and ill leave it at that. Been in the business a long time and couldn't care less for real estate agents.

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#5575518 - 01/31/15 06:36 PM Re: Buying FSBO [Re: TXHOGSLAYER]
txtrophy85 Online   content
THF Celebrity

Registered: 08/12/05
Posts: 22036
Well plenty sure sums it up



Everyone, he has plenty of experience and he is in "the business"

By all means ignore the advice of the professional broker and listen to mr. Stevarino

Point I was making is when you did your first deal you were not experienced. So why would you tell a person with no experience that he can do it on his own?

That's poor advice
_________________________
Originally Posted By: Nogalus Prairie
I think the deer hunting shows and "Bro' Country" are going to be the downfall of this once-great nation.

Top
#5575534 - 01/31/15 06:50 PM Re: Buying FSBO [Re: TXHOGSLAYER]
postoak Online   content
Veteran Tracker

Registered: 08/19/09
Posts: 2539
Loc: The Woodlands, Tx
I think what the OP wants to know is if there a professional, working for a flat fee, who will take care of everything once the OP has selected a property he wants to buy.
_________________________
There are two types of people, those who divide people into two types and those who don't.

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#5575593 - 01/31/15 07:23 PM Re: Buying FSBO [Re: txtrophy85]
Stevarino Online   content
Veteran Tracker

Registered: 01/25/10
Posts: 2072
Loc: Mckinney, TX
Originally Posted By: txtrophy85
Well plenty sure sums it up



Everyone, he has plenty of experience and he is in "the business"

By all means ignore the advice of the professional broker and listen to mr. Stevarino

Point I was making is when you did your first deal you were not experienced. So why would you tell a person with no experience that he can do it on his own?

That's poor advice


You have no idea of my background other than the 2 sentences above.
If you would have read his post, the OP did not state this was his first real estate transaction, just a first FSBO and was asking how to go about it.

Share your opinion like you always do. Good for you, but what I absolutely hate about this forum is the select few like you that like to try and prove everyone wrong.
Stay classy bud.

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#5575613 - 01/31/15 07:33 PM Re: Buying FSBO [Re: TXHOGSLAYER]
TexasLandAgent Offline
Bird Dog

Registered: 04/27/11
Posts: 324
Loc: Texas Hill Country
TXHOGSLAYER, I'm just curious - how do you know what you're paying for the house is fair market value?

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