Selling your house without a realtor - known as FSBO (For Sale By Owner) - can save you thousands in commission fees. But in New York, where real estate transactions are already complex, going it alone requires careful preparation.
This guide covers everything you need to know about selling your house without a realtor in New York, including legal requirements, step-by-step process, and alternatives you might not have considered.
Why Homeowners Consider FSBO
The main attraction of FSBO is simple: saving money. The typical real estate commission in New York is 5-6% of the sale price. On a $500,000 Long Island home, that's $25,000-$30,000.
- Other reasons homeowners go FSBO:
- Control over the process and showings
- Direct communication with buyers
- Flexible timeline
- Already have a buyer in mind (family, friend, neighbor)
New York Legal Requirements for FSBO Sales
New York has specific legal requirements for real estate transactions that you must follow, with or without a realtor:
Attorney Requirement New York is one of few states where having an attorney at closing isn't just recommended - it's essentially required. Your attorney will: - Review and prepare contracts - Conduct title search - Handle closing documents - Ensure legal compliance
Expect to pay $1,500-$3,000 for attorney fees.
Required Disclosures New York's Property Condition Disclosure Act requires sellers to disclose known defects. However, many sellers opt to provide a $500 credit to buyers instead of completing the disclosure form - this is legal and common.
Lead Paint Disclosure For homes built before 1978, federal law requires lead paint disclosure regardless of how you sell.
Transfer Tax New York State charges a transfer tax of $2 per $500 of sale price (0.4%). Additional NYC transfer taxes apply in the five boroughs.
Step-by-Step FSBO Process in New York
Step 1: Determine Your Home's Value Without a realtor's comparative market analysis, you'll need to research values yourself: - Study recent comparable sales (zillow, redfin, realtor.com) - Consider getting a professional appraisal ($300-500) - Be realistic about condition and updates
Pricing wrong is the #1 FSBO mistake. Overpricing means no showings; underpricing means leaving money on the table.
Step 2: Prepare Your Home First impressions matter: - Deep clean everything - Declutter and depersonalize - Make minor repairs - Improve curb appeal - Consider staging key rooms
Step 3: Create Marketing Materials You'll need: - Professional-quality photos (at least 20-30) - Compelling listing description - Property fact sheet - Virtual tour (increasingly expected)
Step 4: List Your Property FSBO listings can go on: - FSBO websites (Zillow, FSBO.com, ForSaleByOwner.com) - MLS (through flat-fee services - typically $300-500) - Social media and local groups - Yard signs
Getting on the MLS is critical - that's where buyers' agents find properties.
Step 5: Handle Showings This is often the most time-consuming part: - Be flexible with scheduling - Keep the home show-ready - Be prepared to answer detailed questions - Have fact sheets available
Step 6: Negotiate Offers Without representation, you'll negotiate directly with buyers or their agents: - Understand market conditions - Know your bottom line - Get everything in writing - Don't take low offers personally
Step 7: Manage the Contract Period Once you accept an offer: - Hire your real estate attorney immediately - Coordinate inspections - Respond to repair requests - Work with the buyer's lender - Prepare for closing
Step 8: Close the Sale Your attorney will handle most closing details, but you'll need to: - Provide all necessary documents - Be available for final walkthrough - Attend closing to sign documents - Hand over keys
Common FSBO Challenges
Pricing Mistakes Without professional guidance, many FSBO sellers price too high and waste months, or price too low and lose thousands.
Limited Exposure Unless you pay for MLS access, many buyers will never see your listing.
Negotiation Difficulties Buyers' agents are professional negotiators. Going against them without experience can be challenging.
Legal Complications Missed disclosures or contract errors can lead to lawsuits after closing.
Time Investment Between marketing, showings, and coordination, FSBO is essentially a part-time job.
Buyer Concerns Some buyers avoid FSBO properties, worried about complications.
The Numbers: Is FSBO Worth It?
Let's calculate the real savings on a $500,000 Long Island home:
FSBO Costs - Attorney fees: $2,000 - MLS listing service: $400 - Professional photos: $300 - Marketing/signs: $200 - Your time (100+ hours): Priceless? - Total direct costs: ~$2,900
Traditional Sale Costs - Commission (5.5%): $27,500 - Attorney fees: $2,000 - Your time: Minimal - Total: ~$29,500
Potential FSBO Savings: $26,600
But consider: FSBO homes typically sell for 5-6% less than agent-listed homes, according to NAR studies. On a $500,000 home, that's $25,000-$30,000 - wiping out your commission savings.
A Third Option: Selling to a Cash Buyer
There's an alternative that many homeowners overlook: selling directly to a cash home buyer.
Advantages Over FSBO - No showings or marketing - Certainty of sale (no financing contingencies) - Close in days, not months - Sell as-is - no repairs or cleaning - Professional handling of all paperwork - No negotiation games
Advantages Over Traditional Sale - No commission (save 5-6%) - Faster closing (7-14 days vs. 45-60) - No repair requests - No risk of deal falling through
The Trade-Off Cash buyers pay less than full retail value - typically 70-85% of ARV. But when you factor in commissions, repairs, and carrying costs, the net difference is often smaller than expected.
When Each Option Makes Sense
FSBO is best when: - You have real estate experience - Your home is in perfect condition - You have significant time to invest - You're not in a hurry - You already have an interested buyer
Traditional sale is best when: - You want maximum sale price - You have time for a 3-6 month process - Your home shows well - You want professional guidance
Cash sale is best when: - You need to sell quickly - Your home needs repairs - You're facing foreclosure or divorce - You've inherited a property - You want guaranteed certainty - You value your time
Our Honest Advice
At Easy Sell Property Solutions, we buy homes directly for cash. But we're also honest: our approach isn't right for everyone.
If you have a beautiful, updated home and 6 months to sell, you'll probably net more through a traditional sale. If your home needs work and you need to sell fast, a cash sale likely makes more sense.
We're happy to give you a free cash offer with no obligation. Use it as a baseline to compare against FSBO and traditional options. That way, you'll know exactly what your choices are worth.
About Billy Alvaro
Billy Alvaro is the founder of Easy Sell Property Solutions, a family-run cash home buying company based in Long Island. With over 20 years of experience and $120M+ in transactions, Billy helps homeowners sell their properties quickly and hassle-free.
Learn more about our team →Need to Sell Your House Fast?
Get a fair, no-obligation cash offer on your Long Island home today.