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Like most states, W. Virginia has an exception for licensing for owners selling their OWN property - see subsection (c)(1) below:
West Virginia Code ch. 30 Sec §30-40-5. Scope of practice; exceptions.
(a) The practice of real estate brokerage includes acting in the capacity of a broker, associate broker or salesperson as defined in section four of this article.
(b) The practice of real estate brokerage does not include the activities normally performed by an appraiser, mortgage company, lawyer, engineer, contractor, surveyor, home inspector or other professional who may perform an ancillary service in conjunction with a real estate transaction.
(c) The provisions of this article do not apply to:
(1) Any person acting on his or her own behalf as owner or lessor of real estate.
(2) The regular employees of an owner of real estate, who perform any acts regulated by this article, where the acts are incidental to the management of the real estate: Provided,That the employee does not receive additional compensation for the act and does not perform the act as a vocation.
But a "FSBO" (For Sale By Owner) can be a rough road. Brokers are supposed to help know what your property is worth, and have connections with the listing services (which are typically only available to brokers unless it's for sale by owners only), other brokers, newspapers where they have deals for placing ads, etc., and know what it will take to get your place sold (need a new coat of paint??? maybe?) and have the time to hold broker open houses, tour prospective buyers around, KNOW what to do with an interested buyer -- like how to go to contract....). Even "FSBO" ads don't get prominence. One of the greatest sins is that FSBO owners think they can price the sale the same as with a broker -- and buyers just generally assume the seller instead wants to unload and therefore discounts for an unrepresented buyer. And if you're not with a broker, other brokers don't like dealing with "FSBO"s because they may feel FSBOs generally don't know what they're doing (not always). If you don't want to hire a broker you may want an attorney representing you if you find a buyer...
What else can I help you with?
What happens if the owner of the property did not sale his property?
he would have to get out busness
Can you use your previous rental payments to pay towrad a down payment on a mortgage?
No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.
Do I need a license to advertise for sale by owner property?
No, an owner can advertise his property at any time. A real estate license is required if one is being paid a commission to sell a property belonging to someone else.
What is the typical commission rate for a realtor when a property is listed for sale by owner?
The typical commission rate for a realtor when a property is listed for sale by owner is around 3 to 6 of the final sale price.
What is the typical commission rate for a buyer's agent when purchasing a property that is for sale by owner?
The typical commission rate for a buyer's agent when purchasing a property that is for sale by owner is around 2-3 of the sale price.
What is the typical commission rate for a buyer's agent when purchasing a FSBO (For Sale By Owner) property?
The typical commission rate for a buyer's agent when purchasing a FSBO (For Sale By Owner) property is usually around 2-3 of the sale price.
With joint tenancy ownership of a personal residence can one person legally list the property for sale without the other?
You cannot list the property for sale without clearly indicating that you are trying to sell only a one-half interest. You would have a problem finding a buyer interested in purchasing a one-half interest in the property that will be shared with your present co-owner.
What is a deed grabber?
"DeedGrabbing" is the process of getting deeds to tax sale property from the owner right before the owner loses the property to taxes.
Can a house be listed for sale without the joint tenants authorization?
You cannot sell what you don't own. You can list your own half interest for sale and hope to find a buyer who is willing to share the property with your co-owner.
What is the difference in a house being for sale and for rent?
A sale of real estate means the owner wants to transfer the property to a new owner in return for a price.A rent of real estate means the owner seeks to allow someone the use and occupancy of the property in return for a price, usually by the month.A sale of real estate means the owner wants to transfer the property to a new owner in return for a price.A rent of real estate means the owner seeks to allow someone the use and occupancy of the property in return for a price, usually by the month.A sale of real estate means the owner wants to transfer the property to a new owner in return for a price.A rent of real estate means the owner seeks to allow someone the use and occupancy of the property in return for a price, usually by the month.A sale of real estate means the owner wants to transfer the property to a new owner in return for a price.A rent of real estate means the owner seeks to allow someone the use and occupancy of the property in return for a price, usually by the month.
Do realtors receive a commission on for sale by owner properties?
Realtors typically do not receive a commission on for sale by owner properties because the owner is selling the property without the help of a real estate agent.
How can you list your townhome condominium in rehoboth beach for sale?
A local realtor can answer your question and list the property for you.
