Real estate topics - FSBO Buyer

Real Estate Topics
FOR SALE BY OWNER

Information specifically for Buyers

Checking out FSBO properties?
Here are some common problems to watch out for!

1. Homes frequently are overpriced.

Owners often reject clear indicators of what their home is worth (such as the same floor plan, nearby, that sold this morning at a much lower price!) Investigate prices thoroughly! Your real estate agent can check the sales history for the neighborhood.

2. Homes sometimes have undisclosed material facts.

Listing Agents have a responsibility under the law to disclose anything which might influence a Buyer’s decision. This could include knowledge of a road widening, a flood zone situation, a past fire with unrepaired damage, etc. Without an agent, Buyer Beware! Owners sometimes take the FSBO route because they don’t want to bring up negative issues. It is up to YOU to discover that there is a fire station planned for the vacant lot behind the house. (Imagine sirens at all hours). Or the car dealership which will be built on the corner sometime next year. (Bright lights and paging speakers, anyone?)

3. FSBO seminars don’t tell the entire story.

They tell Buyers not to bring an agent to the house. But guess what they tell Sellers? To cooperate with agents. They spout statistics showing what percentage of homes sell as a FSBO. They don’t reveal how many of these homes had an agent involved. Nor do they tell about the homes where the deal went sour and the Buyers lost the money they spent for inspections, surveys and appraisals.

THE FACT IS, MOST FSBO SELLERS WILL COOPERATE WITH A BUYER’S AGENT. A BUYER’S AGENT CAN HELP YOU DISCOVER IMPORTANT FACTS ABOUT THE PROPERTY, NEGOTIATE THE MOST FAVORABLE TERMS, AND WILL MAKE RECOMMENDATIONS ABOUT INSPECTIONS, LENDERS, ATTORNEYS, AND MORE.

You can utilize Buyer Representation with no fees or commissions!