Can someone explain me the steps in selling a house by owner?

Question

I have a potential buyer and they say they want to sign the contract. what happens after that in order to get the deal closed? How do i manage their bank into the transaction? what do I tell the title agency?

Answer 1

Once you have a closing agent they will handle everything and just get back to you for anything they need, and you will probably never talk to the sellers bank.

Answer 2

If you live on the west coast...call an escrow company.  They can guide you thru it and draw up the documents.  They are the ones who also get in contact and receive the info from the buyer's bank.  The seller never deals with the bank directly.  They may even have a FSBO packet for you to look at.  

Keep in mind though that they are a NEUTRAL third party.  YOU will have no representation if you don't hire someone.