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Tractor Talk Discussion Forum

OT - For John T

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GeorgeH

10-04-2006 06:50:27




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Want a "Country Lawyer" opinion (free of course).

Frequently see signs "FOR SALE BY OWNER". Maybe I am being overly technical but who else could sell anything?




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GeorgeH

10-04-2006 07:19:32




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 Re: OT - For John T in reply to GeorgeH, 10-04-2006 06:50:27  
I am referring to use of such a sign on cars, boats, motorcycles, tractors and such (maybe not OT afterall). Yeah, it makes sense on a house (or I suppose anything that is bweing sold essentially on consignment).



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RustyFarmall

10-04-2006 07:57:49




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 Re: OT - For John T in reply to GeorgeH, 10-04-2006 07:19:32  
In a perfect world nothing would be sold unless it was sold by the person that actually owned it, but in this less than perfect world, there is lots of stuff that gets sold everyday by someone other than the owner. So then the question arises, does the person who placed the "for sale by owner" sign, really own the item that is being offered? Or, in the words of Jeff Foxworthy, "Here's your sign".

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Brokenwrench

10-04-2006 07:10:10




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 Re: OT - For John T in reply to GeorgeH, 10-04-2006 06:50:27  
I ain`t John T, nor am I a lawyer but..
I think the implication is that the property isn`t listed with a realitor. The owner is selling it on their own. When I was looking at places for sale, the benefit was that the seller or the buyer wasn`t paying any commission fees. You still had to have all the title checks, sewer and well certifications, and closings done.
You needed to get a lawyer to do all this. So there were still fees involved, plus the hassle of setting it all up yourself instead of your realitor coordinating all of it.

There`s a couple of guys in our area that buy alot of properties, fix em up alittle and then resell them. They are always for sale by owner.
I suppose they`ve done it so many times they have learned all the ins and outs.
Someone will correct me if I got it wrong.

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