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»Learn more: Real Estate Counter Offers 101: When in Doubt, Consult This Seller’s FAQ Sheet
9. Close the sale of your Maine home
The final step in your FSBO journey is referred to as “the closing.” This is a scheduled day and meeting that involves completing the legal and financial paperwork needed to close the sale and transfer ownership of the property. Before this day comes, you’ll want to be certain all sale requirements are met.
- Hire an attorney: While not required by state law, hiring a real estate attorney will provide you with greater protection and peace of mind. Your attorney will handle essential tasks like reviewing the purchase contract and title transfer.
- Work with a title company: The title company or the buyer’s attorney will perform a title search to confirm there are no liens or claims against your Maine property. Your sale typically cannot be closed unless there is a clean title on the house and land.
- Sign and get paid: At this point, you’ll sign the final purchase agreement and title transfer forms, and receive payment from the buyer. You’ll also be responsible for transfer taxes. The title company or your attorney will usually guide you through these final actions.
When all is complete, you will turn over your keys to the home. Congratulations, you have closed the sale.
»Learn more: Comprehensive Closing Checklist for Home Sellers
FSBO pitfalls to avoid in Maine
While selling your Maine home yourself can save money on real estate agent commissions, there are some costly pitfalls that FSBO sellers often make. Here are some common sell-by-owner missteps to avoid:
- Not using the MLS to market the home
- Over- or under-pricing your home
- Letting your home sit on the market
- Neglecting marketing strategy
- Being overly fixated on one detail of a purchase offer
- Failing to declutter or depersonalize the home
- Ignoring safety precautions during home showings
- Deciding not to hire a real estate attorney
»Learn more: Why Isn’t Your Home Selling? 12 Common Reasons to Consider
Alternatives to selling FSBO in Maine
The sell-by-owner process can be overwhelming. Perhaps you’re looking to make the most proceeds possible. Or maybe you want to eliminate the stress of selling while you’re planning a move. Or, perhaps you just need a fast sale so you can start a new chapter of life. For these situations, consider the following two alternative selling options:
- Work with a top Maine real estate agent: Agents provide valuable local market knowledge, pricing skills, and expert negotiation strategies that can help you secure a higher price and more proceeds. HomeLight’s free Agent Match platform can connect you with top-performing agents in your city.
- Sell for cash with HomeLight’s Simple Sale: If you need a fast and smooth sale, HomeLight’s Simple Sale platform gives you access to the largest network of trusted cash buyers in the country. Enter a few details about your Maine home, and you’ll receive a no-obligation cash offer in 24 hours. With Simple Sale, you can close in as little as 7 days.
»Learn more: Sell Your House for Cash: For Some, the Convenience Can’t Be Beat
Ready to sell your Maine home?
While selling by owner in Maine can be rewarding, you must be fully prepared for the work involved. If you’re unsure about taking the FSBO route or just want to explore your options, HomeLight can introduce you to Maine’s top-rated agents. These professionals know your market and have proven sale-to-list ratios.
Most agents are happy to provide a free, no-commitment consultation. Many will even offer to create a comparative market analysis (CMA) home pricing report at no cost. Connect with a trusted agent today.
Editor’s note: This blog post is intended for educational purposes only. Look into the real estate regulations for your area to properly navigate selling a home without a realtor. If you’ve explored the FSBO process and decide it’s not the right fit, we can connect you with top-rated agents for a stress-free, top-dollar sale.
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