Some homeowners elect to market the sale of their homes on their own in order to avoid the real estate commission. Commissions are negotiable. Assuming a 5% commission on an $800,000 home it is $40,000; on a $1,300,000 home, it is $65,000. This site is for them; it is not intended as a site to encourage others to sell on their own.
Once such homeowners have a buyer at the table, I offer the legal services necessary to consummate the sale to that potential buyer. It's a unique three-phase process, as described below. Our fee schedule is fixed.
The three phases below present the chronological sequence of a standard transaction. However, most brokers, including myself, complete Phase 2 before Phase 1. Which is to say, all disclosures are to be available to prospective purchasers before they make an offer. If there is something in the disclosures which would discourage them from purchasing the home, or from offering a specific price, it is better to know this before they make an offer, rather than once the transaction is in escrow. There should be no surprises.
The most time consuming disclosures deal with resale ordinances. In Marin, ten of the eleven cities/towns will perform a physical inspection of the home. This could take weeks to complete. So this should be initiated before the home is placed on the market. And speaking of going to market, homeowners have three basic online marketing options.
Phase 1 ..... OFFER & ACCEPTANCE
Confirm buyer's pre-approval status. Review the Preliminary Title Report. Prepare the purchase contract (often involving multiple drafts), addenda, and counter offers. Upon full written agreement by the parties on price and terms, we move to Phase 2
Phase 2 ... DISCLOSURES & INSPECTIONS
Verify buyer's initial deposit. Prepare homeowner disclosures - both contractual and statutory. Resolve City inspection issues. Facilitate buyer due diligence. Upon buyer's acceptance of disclosure documents and reports, and buyer's removal of the inspections contingency, we move to Phase 3.
Phase 3 ..... FINANCING & CLOSING
Verify buyer's supplemental deposit. Coordinate with buyer's mortgage lender and appraiser. Oversee removal of the appraisal and financing contingencies. Order payoff demand(s). Coordinate with escrow on estimated closing statements and signing of documents by the parties. Coordinate transfer of title, possession, keys, utilities.
On a case-by-case basis I will consider representation outside of San Francisco and Marin Counties.
Clients must be comfortable with online communication.
All information on this site is deemed accurate but should be independently verified. In addition, some information is date sensitive.
For specific questions and inquiries on a pending transaction contact the Lawyer Referral Service for the County in which the property is located.
Leopold A. Rodriguez, Attorney at Law
400 Montgomery 505 San Francisco 94104 ~ 415.781.3000
Copyright ©2006 through current year
Leopold A Rodriguez, All Rights Reserved