Has Anyone Purchased a FSBO House?
Senior Member
Joined: Feb 2007
Posts: 593
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From: N.E. Iowa
I am selling my house right now "by owner". We (my fiance and I) have an attorney to handle the paperwork. We got an offer two days ago. We have agreed to pay closing costs (up to $2000).
The buyer doesn't have to do much more than get their financing in order and schedule inspections. It's really not as difficult as it may appear at first. Just a bit more leg work on the seller and buyers part.
The buyer doesn't have to do much more than get their financing in order and schedule inspections. It's really not as difficult as it may appear at first. Just a bit more leg work on the seller and buyers part.
Senior Member
Joined: May 2006
Posts: 365
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From: Rain Pit, Oregon
Originally Posted by Habibi
RP,
Don't be intimidated with not using an agent.
A good real estate lawyer can do everything for you that an agent can.
You might have to pay your lawyer more money, but you will still end up saving money in the process.
Like someone else said, make sure you get a qualified home inspector.
Chose one carefully as there are a lot of crappy ones out there.
I don't have much respect for real estate agents anymore, they can pretty much screw you six ways to Sunday, and there will be a small clause (BURIED) somewhere in the paperwork letting them off the hook.
People think real estate agents are going g to be there for you to right any wrongs that may happen, and they will, as long as it doesn't cost them any money, but once something happens that costs THEM money, forget it, it's all going to be on you anyway.
I'm not saying "Don't Ever Use One", but if you can close a deal without one, go ahead and do it. They are not as indispensable as they try to make you think they are.
Don't be intimidated with not using an agent.
A good real estate lawyer can do everything for you that an agent can.
You might have to pay your lawyer more money, but you will still end up saving money in the process.
Like someone else said, make sure you get a qualified home inspector.
Chose one carefully as there are a lot of crappy ones out there.
I don't have much respect for real estate agents anymore, they can pretty much screw you six ways to Sunday, and there will be a small clause (BURIED) somewhere in the paperwork letting them off the hook.
People think real estate agents are going g to be there for you to right any wrongs that may happen, and they will, as long as it doesn't cost them any money, but once something happens that costs THEM money, forget it, it's all going to be on you anyway.
I'm not saying "Don't Ever Use One", but if you can close a deal without one, go ahead and do it. They are not as indispensable as they try to make you think they are.
Senior Member
Joined: Jun 2002
Posts: 934
Likes: 0
From: Little Rock, AR
I bought my home that was a FSBO and it was a very easy process. We made an offer just like we had on several houses that we looked at with our realtor. The offer was countered and we countered again and they accepted. Actually, we just agreed to meet in the middle. To me, it was a much smoother process.
Everything was worked into a contract and I think that everyone won. I will definitely try to sell my house as a FSBO as you have less to lose and more to gain. In this day and age, there are so many things you can do to promote your home.
So, I say go for it. You are a smart guy and can surely figure out everything you need to get the house closed if that is what you want. If you really want to work with an agent, I am sure that you can pay the realtors commission. I would say that it is probably not worth it to you either.
Everything was worked into a contract and I think that everyone won. I will definitely try to sell my house as a FSBO as you have less to lose and more to gain. In this day and age, there are so many things you can do to promote your home.
So, I say go for it. You are a smart guy and can surely figure out everything you need to get the house closed if that is what you want. If you really want to work with an agent, I am sure that you can pay the realtors commission. I would say that it is probably not worth it to you either.
Technical Article Contributor
Joined: Sep 2006
Posts: 889
Likes: 0
From: Hattiesburg, MS
you could also agree to pay your realtor fee and let them do all the work. even though the seller doesnt want to deal with one, they wont be. your realtor will be working for you and just doing all the paperwork and apointments for you. that will be what you are paying for and he/she will be looking out for you and you only. usually here in MS, they will agreee on a 2-3% for their fee. hope this helps and good luck!!!
Senior Member
Joined: Mar 2007
Posts: 2,869
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From: N.E. Ohio
1. Realestate lawer
2. Home Inspector(if you have no clue on what to look at when buying a house/home - a high % of home inspectors get thier credentials from match book covers FYI be careful)
3. Does this house meet your needs?
4. Make offer
5.
Honestly, unless you know house building, mechanicals, and practices, your at the mercey of others.
2. Home Inspector(if you have no clue on what to look at when buying a house/home - a high % of home inspectors get thier credentials from match book covers FYI be careful)
3. Does this house meet your needs?
4. Make offer
5.
Honestly, unless you know house building, mechanicals, and practices, your at the mercey of others.
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Senior Member
Senior Member
Joined: Jan 2002
Posts: 31,440
Likes: 4
From: The Bluegrass State
Thanks for all of the insight, guys. We're going to talk with the sellers again tomorrow about a few things and get a couple of other details hammered out.
While we are not going to move toward buying it just yet, we are interested in learning a bit more about this particular property and seeing where that takes us.
Again, thanks!
While we are not going to move toward buying it just yet, we are interested in learning a bit more about this particular property and seeing where that takes us.
Again, thanks!
