When an offer is finally accepted by both buyer and seller, the contract is signed in all the appropriate places and the buyer either gives earnest money to the seller or gives it to the title company where the closing is to take place, to be held in escrow.

The buyer usually has contacted a mortgage broker for a pre-qualification prior to having their offer accepted by a seller, so the completion of the loan approval process is the next step in the process. Once the lender is ready to close, an appointment is made at the title company where both buyers and sellers will sign the necessary documents for the transfer of title.

Good resources for those involved in a for sale by owner transaction are your local mortgage broker and your title company of choice. These professionals are familiar with the real estate world and though they are not authorized to act as agents or represent either the buyer or seller (depending upon their personal credentials), they can point you in the right direction in most cases.

If you are having trouble with the paperwork portion of selling your home on your own (or buying a for sale by owner), you can also consider contacting a local real estate agent to see if they will charge a nominal fee for help with the offer/counter-offer process. Many agents will be happy to do this for a reasonable fee.

The author is involved in several online real estate businesses, including FSBO3k.com, one of the leading for sale by owner websites in the United States.