I want to sell my luxury home in Overland Park. The problem is I don't want to eat up my equity hiring a real estate agent. I figure I can save $30,000 selling my Overland Park home FSBO and "As-Is". What are the REAL legal issues selling FSBO so that I could avoid being sued by a home buyer? Also, what is the best way to protect me?

Question: I want to sell my luxury home in Overland Park. The problem is I don't want to eat up my equity hiring a real estate agent. I figure I can save $30,000 selling my Overland Park home FSBO and "As-Is". What are the REAL legal issues selling FSBO so that I could avoid being sued by a home buyer? Also, what is the best way to protect me?
Ken from Overland Park, Kansas


Answer: Great question, Ken, and I wish you success in selling your home. Unlike many states where an attorney needs to be involved in order to draw up the sales contract, in Kansas, an attorney is not required. Since you're not using a real estate agent, I would suggest either contacting Nate Crow from First United Title (Nate Crow - 913.383.3913 x. 102) for a copy of a sales contract so you can fill in the blanks or have a real estate attorney complete the contract for you.


In addition, "As-Is" does not mean no disclosure. It means the seller needs to disclose to the best of their ability and the buyer assumes risk because the seller will not make repairs. A home seller can end up in court for not disclosing to the best of their ability the true condition of their home. 


In my many years of real estate, the home sellers who end up in court typically intentionally withhold an important manner of the home they are selling. An example would be a homeowner who does not disclose that the basement leaks in the spring during heavy rains even though the basement leaks during heavy rains.


A home buyer in Gardner sued a home seller because she did not disclose the partially finished basement leaked. In fact the home seller partially finished the basement to hide the leaky cracks. The first week the home buyer lived in the home, the basement flooded. An expert found the problem and it was learned during the process that the seller covered the cracks.


My advice is have a professional do the negotiations for you and disclose ALL possible problems with your home on a Disclosure Statement.






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