For Sale By Owner Steps

It is advised that you seek the assistance of a licensed realtor or attorney, but if you have decided to sell or purchase as a For Sale by Owner, we are here to assist you. Below are the steps required for a successful closing along with the individual documents, some of which are included in the Complete For Sale By Owner Package.

01. Order Checklist

Indicates all items needed prior to ordering your title commitment. Please note, a $400.00 non-refundable deposit is due prior to starting your order. Upon a successful closing this deposit will be applied to your title premium. After the acceptance of this deposit, ALL FUNDS from Seller or Purchaser MUST be in the form of a Wire Transfer.

02. Contract to Purchase

Must be completed in its entirety and signed by ALL parties. If your transaction is a land contract, you will need an additional Land Contract Addendum which will include specific land contract clauses.
Note: Each transaction is different. Therefore, please use the Additional Conditions section, on Pages 2 or 4 of the Contract to Purchase, to indicate anything of importance or out of the ordinary with regard to your transaction.

03. Earnest Money Escrow Agreement

Seller to collect the earnest money deposit from the purchaser. If you would like us to hold this deposit in escrow, please ask for printed wiring instructions, in person, upon ordering your title work as we will only accept wired funds. In addition, the Earnest Money Escrow Agreement must be completed and provided prior to acceptance of the funds.

04. Seller's Disclosure Statement

This must be completed and provided to the purchaser for review prior to order.

05. Lead-Based Paint Disclosure

If the property was built prior to 1978, the disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards must be completed after seller and purchaser review the pamphlet titled Protect Your Family From Lead in Your Home. If your property was built in 1978 or later, the Seller’s Acknowledgment of Waiver of Lead-Based Paint Disclosure* can be signed by seller and provided to purchaser stating that the regulations do not apply.

06. Request for Payoff

A separate request is required for each loan. Please include a complete and accurate loan number and social security number so that we can order your final payoff figures for closing.

07. Order Form

Needs to be completed with all information needed for order. Upon receipt, we will begin your order. Please note: processing takes from 7-10 business days from receipt of completed order form. Once your Title Commitment is complete our For Sale by Owner specialist will contact you to discuss any items necessary to clear title prior to scheduling a closing.

08. Pre-Closing Checklist

Indicates all items needed prior to scheduling your closing. Please note: We must have a minimum of 3 BUSINESS DAYS to prepare documents, therefore you must schedule your closing in advance.

09. Certificate of Occupancy

Please make sure to contact the municipality of the property to inquire about any requirements as early as possible, as some may need to be complete prior to closing. In addition, if the property is a condominium, site condominium or within a homeowner’s association, you will need to provide the purchaser with a copy of the association’s bylaws. Prior to closing a status letter from your association or management company will also be required.

10. After Scheduling Your Closing...

Once closing is scheduled and documents are prepared, copies of all real estate closing documents will be emailed to all parties for review prior to closing. At this time, purchaser may want to secure their homeowner’s insurance. For a new mortgage, show the lender as loss payee. On a land contract, show land contract holder as additional insured. On a cash transaction, we do not require homeowners, but advise purchaser to obtain a policy.

11. Just Prior to Closing...

After review of your closing documents any funds needed for closing MUST be wired using the wiring instructions provided in person at the time of order or received via secure encrypted email.  Due to the high instance of wire fraud feel free to contact us at a known phone number for verbal confirmation of our wire instructions. At closing, all documents will be executed and we will disburse all funds for items such as taxes, payoffs, recordings, fees, etc. with the balance of seller’s proceeds payable to the Seller EXACTLY as shown in title. Therefore, please make sure a bank account and tax id number are in place prior to closing.

12. At Closing...

Please bring a valid, non-expired, state-issued photo ID. All documents will be executed and we will disburse all funds for items such as taxes, payoffs, recordings, fees, etc. with the balance of seller’s proceeds payable to the Seller EXACTLY as shown in title. Therefore, please make sure a bank account and tax id number are in place prior to closing.

13. After a Successful Closing...

Following a successful closing seller and purchaser may need to deliver transfer forms to the city clerk and will need to contact the water department to set up a final water reading.

14. Final Steps...

At closing an escrow is held for the payment of any water used up to and including the closing date. Once final water bill is received and forwarded to our post closing department we will pay the bill from the escrowed funds and refund the balance to the seller.

Have Questions or Need Help?

If, at any time during the process, you have any questions or concerns please feel free to contact our For Sale by Owner specialist who would be happy to help guide you through your transaction.

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We want your transaction to be as simple and go as smoothly as possible. If you have questions or need further assistance please contact us today.

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