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Frequently Asked Questions
Find answers to some of the most frequently asked questions
How does a For Sale by Owner (FSBO) transaction work?For Sale by Owner transactions are real estate transactions where there is no realtor involved. The owner is representing their property and negotiating directly with potential buyers. So what does that process look like? Most real estate transactions can be broken down into 3 phases: Negotiation, Pending, and Closing. In the Negotiation phase, the terms of the deal are discussed and agreed upon. Some questions answered in the negotiation phase are: What is the purchase price? Who pays for closing costs? How are property taxes to be handled? When will the buyer get possession of the property? Once the terms are negotiated, the next stage is the Sale Pending stage. Another name for the Sale Pending stage could be the Verification stage. That's right, this is when everything is checked out and verified. Does the seller have the right to sell the property (title search)? Is the buyer approved for the purchase of this property (loan approval)? Is property in satisfactory condition (inspections)? These are some of the quesitons that get answered during the sale pending stage and can sometime lead back to revisiting the negotiation stage when necessary. At the closing stage of the transcation, the deal is buttoned up and finalized. The closing agent (usually a title company representative) prepares the final numbers and assigns all fees to the appropriate parties. On the day of the closing, all parties sign the appropriate documents to facilitate the transfer of ownership and funds are distributed to appropriate parties. Click here to find out more!
How/When do I pay The Selling Table for service?The Selling Table is paid at the closing of your transaction out of the proceeds of your sale. If your transaction does not close, The Selling Table does not currently charge a fee :)
How much do real estate agents make?In most markets the average real estate commission on a real estate transaction is 6%. The median purchase price of a home in the USA in 2021 was $411,200. A real estate commission on this size of transaction would be $24,672. The Selling Table was formed to help enable property owners to save more of their hard earned equity. In our example above, the property owner could save over $18K by using The Selling Table's services and completing their transaction as a for sale by owner.
I haven't listed my property for sale yet. When should I contact The Selling Table to get started?Right away! Customers frequently get the most benefit from our services by reaching out before they list their property. We have great tools to help get your property prepared for sale. Our coordinators are happy to answer the tough questions you might have, so you can be prepared to get your transaction started as soon as you find your buyer!
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