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Buying Homes for Sale by Owner: How It Should Be Done
Buying a home can be both an exciting and a stressful time. If you have found a home of interest that is listed as “For Sale by Owner,” (FSBO) then you probably would benefit from the representation provided by a real estate professional. Common thought is that a buyer buying a “For Sale By Owner” needs to handle contract writing, negotiations, and inspections on their own. However, having a realtor represent you and look out for your best interest is a very wise choice that will save you money and guard your investment.
Mary Couzens Realty’s Team of experienced agents who live in PebbleCreek are available to share their knowledge of market values and PebbleCreek homes for sale! Read on to find out what you need to know about buying a FSBO.
How to Buy a For-Sale-by-Owner Home
If a home is listed as “For Sale by Owner,” you should call a real estate agent and ask them to schedule an appointment to see the home. Seller’s are usually willing to work with and compensate an agent if they represent a buyer. Your agent being familiar with homes in PebbleCreek, will be able to show you the home and point out the positive and negative features. Getting objective input from a realtor familiar with homes in the area is very valuable.
- Getting good sales comparables is important when you are considering a FSBO, so you know the fair market value of the property. The owner of a FSBO, may or may not be reasonable in their asking price and a knowledgeable realtor can provide information to help you decide where a home should be priced.
- Your Agent is skilled in contract writing and negotiating on your behalf. When considering a FSBO, you want to be sure a real estate professional is looking out for your best interest. Entering into a binding contract to make a home purchase should be done with great care and your realtor has the experience and knowledge to do that.
- Once you have signed and the seller has accepted your offer to purchase their home, you will be required to open escrow with a title company. You will also want to have a professional inspection of the property. Your realtor will have the resources available not only for opening escrow and home inspectors, but also home warranty plans. Navigating the inspection period, knowing the obligations of a seller and requesting repairs is a valued skill you’ll find in an experienced realtor.
Real Estate commissions are negotiable. As a buyer, if a seller isn’t willing to pay a commission to your realtor, it is well worth it to pay a commission and have an experienced real estate professional guide you thru the purchasing process. Mary Couzens Realty has a Team of highly experienced agents available to assist you in purchasing a For Sale By Owner in PebbleCreek.