We offer a very unique Three Phase service to homeowners who have elected to sell their single family home or condominium on their own - perhaps outside of the Multiple Listing Service [MLS], perhaps not. We work outside of San Francisco and Marin on a case-by-case basis.
This service is not available for Short sales, or for the sale of TIC interests, stock cooperative interests, multiple family buildings, commercial buildings, floating homes, mobile homes, manufactured homes, unimproved lots.
DEFINING FSBO
The industry uses the term "For-Sale-By-Owner" [FSBO] as if it applied to a single scenario. In truth there are three scenarios where that term applies.
Type One: sellers who elect to market and sell their homes on their own, without an agent. Principals only. There are Internet sites where sellers can list their homes independent of the MLS system. There is no Association to wrap the seller's knuckles if the seller fails to remove the listing once an offer has been accepted. So, expect stale listings. Some sites aggregate all San Francisco Bay Area listings into a single database, because there are so few listings. Examples of sites that carry a few listings for San Francisco and Marin: SanFranFSBO and For sale by owner center
Type Two: Sellers who elect to market and sell their homes on their own, but will cooperate with the buyers' broker - meaning that they will agree to pay his/her commission. Such homes are not on MLS.
The two best sites for FSBO ads are Craig's List's "real estate - by owner" and
Zillow.com - both free. They are "best" because they publish many FSBO listings. Advertising on a site that has maybe one or two listings in your City is of limited/no value, especially if you are being charged for the ad. Almost every FSBO ad I have been on Zillow indicates that the seller is willing to "cooperate" (meaning pay some commission) to the buyer's agent. You need not do the same.
Type Three: sellers who elect to market their homes on their own, but who list them with discount brokers who charge a flat fee to place the home on the Multiple Listing System, and very little more. In 1976 Don Taylor founded Help-U-Sell and came up with the flat fee concept. Decades later you can now access the progeny of Help-U-Sell by Googling "flat fee mls" or something similar. Some firms offer this service for under $300.00. CAVEAT: check with the Department of Real Estate to confirm that the business is a licensed California real estate brokerage.
THE THREE PHASES
Our service consists of three phases:
Phase 1 ..... Offer & Acceptance
Phase One commences with the execution of a Retainer Agreement and includes providing a current tax record and whatever MLS data the seller requests, such as comparative market analyses; preparation (unless provided by buyer) and review of purchase contract, counter offers, addenda; referral to a Title Insurance company for escrow services and title insurance coverage; review of the Preliminary Title Report. Phase 1 terminates with the opening of an escrow, together with delivery of buyer's initial deposit to the Title Company - OR with failure of the parties to reach an agreement.
Phase 2 ... Disclosures & Inspections
Phase Two commences with the opening of escrow and includes referrals to general contractors in the business of home inspection, structural pest control operators, and engineers - as necessary - and coordination of their inspection dates and times; ordering of local permit history or City Inspection; compliance with point-of-sale ordinances; coordination of all Disclosure documents - both contractual and statutory; procuring a Natural Hazards Disclosure Statement. It terminates with removal of the inspections contingency and acceptance of all disclosures - OR with failure of buyer to do so.
Phase 3 ..... Financing & Escrow
Phase Three includes coordination with buyer's mortgage lender or broker; coordinating the appraisal; removal of the financing and appraisal contingencies; ordering payoff demands, and coordinating with Title Company for signing of documents by sellers and by buyers. It terminates with close of escrow - OR with failure of buyer to remove financing and appraisal contingencies.
FEES AND COSTS
Our fee depends upon whether the property is a single family home or condominium, and whether assistance is required for Phase 1, Phase 2 and/or Phase 3:
| Fee Schedule |
Single Family |
Condominium |
| PHASE 1 |
$ 1500 |
$ 1500 |
| PHASE 2 |
$ 1600 |
$ 1800 |
| PHASE 3 |
$ 900 |
$ 900 |
A surcharge will apply if visits to the home are required.
Sellers customarily incur transaction expenses such pre-sale inspections (optional), the 3R Permit History and RECO inspection, in San Francisco; and city inspections in most cities/towns in Marin.
The allocation of documentary transfer tax, escrow fee, and title insurance premiums is a matter of custom, which itself differs from County to County. Chicago Title offers a useful table of allocation of these items between sellers and buyers.
Leopold A. Rodriguez
Attorney at Law
400 Montgomery 505 San Francisco 94104 ~ 415.781.3000
LeopoldRodriguez@Comcast.net
Copyright ©2006 through current year, Leopold A Rodriguez
All Rights Reserved.
