Sellers Fequently Asked Questions:
What if I want my property on the MLS?
FSBO Madison provides flat fee MLS services through The McGrady Group LLC, a licensed Wisconsin Real Estate Brokerage, for those who feel they need it. This service costs $250 when added to your FSBO Madison. There is a $50 "synch fee" when added after your initial FSBO Madison registration has been on the site for 30 days, but does reset your FSBO term to match the MLS term of 6 months. MLS renewals are $100 for an additional 6 months.
Some "flat fee MLS" marketers say that FSBO Madison is great for homebuyers in Dane County, but that people in other parts of the country/world don't know about you. Is this true?
No, this is not true. (See the related question above) A buyer who was stationed in the military in Italy told us, via phone from Italy, that she watched the FSBO Madison website like a hawk and settled on a home in Columbus without even setting foot in it. She said that she could picture it well and had a good idea about the surrounding area because of the detailed and personalized information provided by the owner. The Internet will be seen by anyone in the WORLD who is looking for a home in the Dane County/Madison area and who types relevant search terms into their browser.
My home has been listed on FSBO Madison for only two days and yet there have been over 200 "hits" (visits) already. Why haven't I gotten any calls?
Why are properties still listed after their closing date has passed?
We have been asked, by appraisers, to leave properties on the site for one month. This gives them time to record the sales and obtain sales info from the city/county for use in doing comparables. The huge increase in fsbo sales over the past 8 years has made this task more challenging for them. We comply with their request unless an owner prefers the prompt removal of their property (which they can also do themselves.)
Who pays for title insurance?
The short answer is that the seller pays for title insurance (owner's policy of title insurance) to meet the requirement of providing "merchantable title" to the buyer.
The buyer pays for title insurance that their lender requires to prove their status as first mortgage holder on the property being bought.
Per lines 342-345 of the WB-11 Residential Offer to Purchase form:
"Seller shall pay all costs of providing title evidence to Buyer. Buyer shall pay all costs of providing title evidence required by Buyers lender."