FSBO Midwest fees for OWNER FINANCED FSBO SALE
Promissory Note $250.00
Deed of Trust $295.00
Real Estate Contract: see below
$ 995.00 on transactions below $100,000.00
$1,495.00 on transactions between $100,000.00 to $200,000.00
$1,995.00 on transactions between $200,000.00 to $300,000.00
$2,450.00 on transactions between $300,000.00 to $400,000.00
$3,000.00 on transactions above $400,000.00
In an Owner financed FSBO sale, the Buyer/Borrower does not have cash and/or financing sufficient to purchase the property. No realtors are typically involved. The real estate contract is drafted once signed and taken to a Title Company along with an earnest money check. The Title Company issues a “Title Commitment” insuring marketable title. The Title company issues a “Settlement Statement” that is signed by all parties which reflects all debits and credits of the parties. The Seller shows up at Title Company and signs a Deed over to the Buyer and takes back a Deed of Trust and promissory note. The Buyer signs several documents including a Deed of Trust and Promissory Note, and leaves with a key. If you are not in Kansas City, the Title Company can do all of this by overnight mail to avoid the necessity of driving to Kansas City.
Services included in these fees are as follows:
1. Obtain all information for drafting the real estate contract
2. Draft a real estate contract
3. Obtain signatures on real estate contract (electronic signatures by dot loop)
4. Draft Addendums and Amendments when necessary (Additional fees may apply)
5. Securing Title Company*
6. Delivering Real Estate Contract to Title Company
7. Draft Promissory Note
8. Draft Deed of Trust
9. Providing secondary coordination for Inspections and Appraisal*
10. Working with all parties involved to successfully complete the sale
*Fees being paid to FSBO Midwest never include Title Company Fee’s, Inspection, or Appraisal Fee’s.
*Buyer is ultimately responsible for arranging and conducting inspections. FSBO Midwest will at all times act as a transaction agent and not advocate for the specific interests of either party.
*Closing Fee’s and Title Fees are not included.
*$250.00 Administrative fee charged to each opened file. Administrative fee required to be paid prior
to opening a file with FSBO Midwest, or may be paid from closing, at the discretion of FSBO Midwest.