Frequently Asked Questions

Yes. FSBO (For Sale By Owner) is legal in all 50 states. You'll handle the marketing, showings, and negotiation yourself. The closing itself is handled by a title company or attorney — not by agents. You can save 2.5–3% in seller's agent commission.

No. A realtor is not part of the closing process. The closing is conducted by a title company, escrow company, or attorney (depending on your state). You can close without any agent involvement.

You'll typically need: government-issued photo ID, the deed (prepared by the title company or attorney), property survey, HOA documents (if applicable), any outstanding mortgage payoff statement, and proof of any repairs agreed to in the contract.

The closing process takes 30–60 days from the signed purchase agreement. Cash sales can close in as few as 7–14 days. The timeline is driven primarily by the buyer's lender underwriting process.

Lender's title insurance is required by virtually all mortgage lenders. Owner's title insurance is technically optional but strongly recommended — it protects your equity against future title claims for a one-time premium.

Title insurance costs vary by state and purchase price. Typically, you'll pay $500–$3,500 for both the owner's and lender's policies combined. Some states have regulated rates (Texas, Florida); others allow competition among title companies.

Owner's title insurance protects against pre-existing title defects discovered after closing: unknown liens, forged deeds, undisclosed heirs, boundary disputes, recording errors, and unpaid taxes. It covers legal defense costs and financial losses.

Yes, in most states. Get quotes from multiple title companies. In Texas and Florida, rates are state-regulated but service quality and speed vary. In other states, rates can differ significantly between companies.

Closing costs typically range from 2%–5% of the purchase price, depending on state and loan type. On a $400,000 home, expect $8,000–$20,000 in total closing costs. Use our calculator to estimate by state.

Both parties pay different costs. Buyers typically pay lender fees, appraisal, prepaid items, and some title costs. Sellers typically pay transfer taxes, prorated property taxes, and any agent commissions. Which party pays title insurance varies by state.

Yes. Who pays certain costs (title insurance, transfer taxes, closing fee) can be negotiated in the purchase agreement. Lender fees can sometimes be negotiated or credited. Sellers can offer to pay buyer closing costs as a concession to make the deal work.

A real estate transfer tax (also called excise tax, documentary stamp tax, or deed tax) is a government fee charged when property changes hands. Rates range from 0% (12 states) to over 4% in some cities. The seller usually pays, but not always.

In attorney states, a licensed real estate attorney must conduct the closing and/or certify title. You cannot complete a real estate closing without one. There are currently 22 attorney states, concentrated in the Eastern US.

In escrow states (common in the West), an independent escrow company or title company acts as a neutral third party, holding funds and coordinating the closing without an attorney. The escrow officer prepares documents and manages disbursements.

You don't legally need one, but hiring a real estate attorney for contract review and closing oversight is never a bad idea — especially for FSBO transactions. Attorneys typically charge $500–$1,500 for closing services and provide valuable legal protection.