In Hawaii, we have a large number of condo sales and the price comparisons are pretty straightforward, so it is not difficult for a seller and buyer to agree on a fair price in many complexes.
For the average seller wanting to sell FSBO, what is obviously needed is to access a title and escrow company, which can do the steps relating to title search, funds transfer, conveyance. A few property owners can do all this themselves (with buyer doing his/her role); but from the buyer's standpoint, one would obviously want a title company's involvement in any FSBO, especially regarding title search.
I'm curious about this topic, and not just for Hawaii: Can a seller and a buyer just walk into a title and escrow company and announce they have a deal and want to purchase the company's services to handle the transaction?
Or--and here is my mildly conspiratorial mind working--has the real estate industry pressured these companies not to do the above, because it detracts from people using realtors?
I note this post here from 3 months ago: I am a Realtor. Here are the top 11 things I wish people knew before attempting a discount or For Sale By Owner Listing. And a few things I HATE
I disagree with some of what was written, and again, many real property sales are simple transactions. Paying $6000 per thousand of sale price (6%), or even half that, is excessive. (And generally what are total title and escrow costs on a $200 K condo sale in most places? $1000 - $2000, excluding conveyance tax?)
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source https://www.reddit.com/r/RealEstate/comments/gb9sxk/for_sale_by_owner_what_is_the_situation_on/
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