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JEROME GERAGHTY

GLO specializes in Real Estate and Business Law, including Real Estate Transactions, Buying and Selling a Home, Real Estate Investment and Landlord Issues; Business Formation and Development; and Contractor Issues and Mechanics’ Liens

 

For Sale By Owner (FSBO) Transactions in Colorado - selling A home without a real estate agent

Licensed real estate brokers offer substantial value by marketing properties widely, negotiating favorable offers, and managing the transaction process from start to finish. However, many homeowners opt to sell their properties without a broker—a method known as For Sale By Owner (FSBO)—to save on commission fees. Buyers may also prefer direct transactions with sellers to reduce costs.

While FSBO can reduce expenses, the process is often complex, and without proper guidance, the goal of saving money can be jeopardized. For those navigating buying or selling without a broker, tools like Zillow.com, fsbo.com, and forsalebyowner.com help connect interested parties directly. In such cases, a real estate attorney experienced in residential transactions can be invaluable, managing legal aspects and safeguarding your interests throughout the process.

Why Hire an Attorney for FSBO?

While brokers add value by marketing properties and negotiating offers, they are not licensed to provide legal advice. Colorado law limits brokers to using standardized state-approved forms without modification. If you want to avoid broker fees but still ensure your transaction is smooth and compliant, working with an experienced real estate attorney is essential. GLO’s legal support can ensure you interests are accurately represented, reducing stress and minimizing risks.

A contract to buy and sell real estate is a legally binding document with significant financial consequences. Beyond signing the contract, FSBO transactions require managing due diligence, title reports, settlement statements, deeds, and other closing documents. Here are some key considerations an attonrye can assist with in a FSBO transactions:

  • Drafting, reviewing, and negotiating purchase contracts

  • Verifying that required disclosures have been received

  • Performing title commitment analysis

  • Reviewing HOA documents and due diligence

  • Tracking transaction deadlines to protect against contract breaches

  • Guiding you through inspection and disclosure compliance

  • Preparing transactional paperwork and reviewing closing documents

How GLO Can Assist with FSBO Transactions

As a Denver real estate law firm, GLO routinely assists clients with private sale transactions, including FSBO deals, on both the buying and selling side. In Colorado’s competitive real estate market, where demand is high and inventory is limited, FSBO transactions can be a viable option. GLO offers:

  • Drafting and reviewing purchase contracts.

  • Title commitment analysis and due diligence support.

  • Inspection guidance and disclosure compliance.

  • Transactional paperwork preparation and closing document review.

GLO can help you navigate the complexities of FSBO transactions, ensuring all legal aspects are handled properly to protect your financial interests.

Benefits of Using GLO for FSBO Transactions

  • Significant Savings: By avoiding broker fees, FSBO transactions can save thousands. For example, selling a $500,000 property FSBO could save over $12,500-$25,000 compared to a traditional broker commission.

  • Comprehensive Legal Support: GLO provides the expertise and legal guidance needed to prevent potential legal and financial issues.

  • Experienced Guidance: With years of experience with successful FSBO transactions, GLO’s attorneys can help you avoid common pitfalls and achieve the best possible outcome.

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FSBO transactions are an increasingly popular way to buy and sell real estate without broker fees, but they come with potential challenges. For those seeking to handle their transaction privately, having a qualified attorney involved can make all the difference.

Contact GLO to discuss your FSBO needs and learn how our expertise can help make your transaction as seamless as possible.

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