For Sale By Owner Real Estate Lawyer

Last Updated on June 12, 2026 by wyckofflaw

The Importance of Hiring a Real Estate Lawyer to Help You When Selling or Buying a Home For Sale By Owner

In today’s hot Sarasota real estate market, more and more people are choosing to sell their home without a real estate agent. For a variety of reasons, more and more homeowners are simply putting a for sale by owner sign in their front yard or by advertising their home for sale on the popular real estate sale websites. By doing so, many sellers and buyers are being connected without the cost of hiring a realtor and paying their commission. Advertising a home for sale, however, is the easy part and only the beginning of a process that is not as easy as many people thought once they find themselves in the midst of it not knowing what to do next.

When navigating the process of handling a real estate sale and purchase transaction without a realtor, there are many important things to keep in mind during the process. There are many steps and considerations that need to be addressed throughout the process. If you are the seller, it can save a lot of stress and keep you from potentially losing a buyer who was willing, ready, and able to pay your asking price if you are prepared before you advertise the property for sale, or, if you are the buyer, before you are ready to make an offer. An experienced real estate lawyer is qualified to help you throughout the process from the time prior to entering into a real estate contract to the time the closing of the sale and purchase of the home occurs.

Perhaps the most important step in the process is the preparation of a comprehensive and binding real estate contract for sale and purchase that covers all of the matters that pertain to the transaction, especially those required by Florida law to meeting your legally required obligations and so the contract is legally binding on the parties. It is important that you have an experienced Sarasota real estate lawyer prepare the real estate contract with an eye toward protecting you from lawsuits in case something does not go quite as planned or simply because you didn’t know a very important legal requirement or obligation existed or you may have underestimated its importance. As a result of the increased use of the internet and recently, artificial intelligence, and other resources readily available online, many people use a contract they find online and try to prepare the sale and purchase contract themselves. Based upon my thirty (30) years of experience as a real estate lawyer, this is a BIG mistake! I would strongly advise against this practice because it typically involves one of the biggest financial and personal transactions of one’s lifetime.

Please understand that title companies are not allowed under Florida law to prepare a real estate contract for sale and purchase. Thus, I would strongly recommend that you hire an experienced Sarasota real estate lawyer to represent you from the very beginning of the process – from the time before you start to negotiate the deal and certainly prior to the time the real estate contract is prepared through the time of closing and even after closing to handle important post-closing matters.

Other important considerations in a for sale by owner transaction include, just to name a few: Who is paying for documentary stamp taxes on the deed? Who is paying for the owner’s title insurance policy? Who will serve as the closing agent? Who will perform the title search? Who is paying for the tile search? Who will select the real estate lawyer who will handle the transaction? Who will hold the earnest money deposit in escrow? Who is responsible for paying for the cost of any repairs that a home inspection reveals need to be made? How much will I be required to pay for such repairs? Who is responsible for paying for a termite inspection and any repairs for any damage? Who is responsible for ordering a survey? Who pays for it? What happens if the value as determined by an appraisal is higher than the sales price? What happens if it is lower? If you hire an experienced Sarasota real estate lawyer, he or she will handle all of the above matters and more for you.

It is very important that you understand a little-known fact – title companies in Florida do NOT represent either the buyer OR the seller. If you do not hire an experienced Sarasota real estate lawyer, YOU DO NOT HAVE ANYONE PROTECTING YOUR INTERESTS. Please, do not go it alone. I have seen too many people suffer emotionally and financially because they did not hire a real estate lawyer to protect their interests.

Again, I recommend consulting with a Sarasota real estate lawyer prior to entering into negotiations. You will be happy you did.

Wishing you success in your for sale by owner real estate transaction,

Best regards,

Michael D. Wyckoff, Esq.
941-795-6565
mike@wyckofflawfirm.com

Legal disclaimer: This communication is not intended to establish an attorney-client relationship. To the extent that anything herein contained may be construed or interpreted by the reader as legal advice, the reader should seek the advice of legal counsel before relying on any information contained herein.