Curious if it is possible to do a private sale of contracts (worth the effort if any?)

[chlwodud85]

Like the title says, I am wondering if it is worth the effort to go through a private transaction to sell a contract

Of course you will go through the standard escrow/title company so that fee wont be saved but the resale company fee (I believe is still like 5-10%)

Let me know your thoughts (Also MOD if this is something not allowed please delete the posting)

Thank you

 

[Sandisw]

There are people who have definitely done private sales and used sites like FB and other places to share they were selling.

We have sold a lot of contracts...6 to 8...and always used a broker...it was worth it for us given how much more traffic a broker would have then the other way.

Oh, and thanks for not sharing what you are trying to sell...that part would not have been allowed!

 

[Sandisw]

To add, most of them were making a profit which I had to pay tax on anyway, so figured, I could deduct the cost of the broker from that and in pretty much all but a 3, it put me into the "loss" stage!

 

[supersnoop]

Like the title says, I am wondering if it is worth the effort to go through a private transaction to sell a contract

Of course you will go through the standard escrow/title company so that fee wont be saved but the resale company fee (I believe is still like 5-10%)

Let me know your thoughts (Also MOD if this is something not allowed please delete the posting)

Thank you

If you have a buyer lined up, it could save you money. But from a buyer perspective, what's the real benefit? It still has to go through ROFR, so it's unlikely to save the buyer any money.

 

[RoseGold]

If you're not in a rush, I don't see the harm in posting it on FB for a while. Ask a reputable title company for an estimate on closing costs.

Maybe you'll get an educated buyer who wants to save a few hundred dollars.

I almost bought on FB like this. I wouldn't have a problem on either side doing this, assuming you use a good title company, and there's only one I would agree to use.

If that doesn't get it done, you can always pay the commission and use a broker.