2007-10-03 04:20:38 · 6 answers · asked by Jensine G 1 in Business & Finance ➔ Renting & Real Estate
That's how all homes are sold. Only the owner can sell you a home.
2007-10-03 04:24:41 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 1⤋
I'm not certain what question you really need an answer to.
FSBO's are usually, in the sort of market we have now, hugely overpriced by greedy owners who only understand they want more money, and they can't see what an agent could possibly contribute that's worth the listing commission (varies from 1% from discounters who pretend they do something, to 3% for agents who actually market the property well)
FSBOs are also notorious for failure to disclose real issues. This covers basically everything that can possibly be wrong with a property.
If you're bound and determined to buy a FSBO, drive around the area you want to live in. They'll have signs in the yard.
A good buyer's agent will save your backside. Yes, they cost money. Which seems like a better idea to you: Spending $10k for an agent on a $500k property, or not spending it and finding out the property is really only worth $400k, or having to come up with the money for a $40,000 repair yourself? Plus it gives you someone to sue if the previous owner cannot be, for whatever reason.
If there's some financial reason you think you need a FSBO, you don't. There's nothing a FSBO can do for you that those who are represented by an agent cannot.
2007-10-03 13:02:52 · answer #2 · answered by Searchlight Crusade 5 · 1⤊ 0⤋
The best price offer that you can get is directly from the owner. But, only If you know the average selling price for an area. If you don't then you could go on local and regional real estate sites and get basic information. Or go to a fisbo site (for sale by owner) buying directly from the owner cuts out a few cost from the realtor side and can get you direct pricing.
You must get the property appraised, many banks charge a fee for this service and you must have it inspected. Due to termites and other unforseen damages.
2007-10-03 11:30:37 · answer #3 · answered by billyboob222 2 · 1⤊ 0⤋
Get a realtor involved to cover you. There is just too much paperwork the owner could skip a few phases, get the house checked by a home inspector and with those 2 people on your side the sale could be a good one.
2007-10-03 11:54:19 · answer #4 · answered by Tapestry6 7 · 1⤊ 0⤋
The best suggestion I can give you is for you to seek representation by a licensed agent. Buying from an owner is the same as if that owner had an agent but worse since no body in the transaction has the education or experience to protect each other.
2007-10-03 11:25:49 · answer #5 · answered by newmexicorealestateforms 6 · 2⤊ 3⤋
you need to apply for a mortgage first.
the lender will find you a title company/attorney who can do the closing for you.
they will also do the appraisal for you.
you will need to find your own home inspection company...and surveyor.
2007-10-03 11:25:02 · answer #6 · answered by Anonymous · 0⤊ 1⤋