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Dealing with Sellers of FSBO Homes

Buying a house from a real estate agent may be a lot different from buying one from the actual owner. If you see a house that you would want to purchase but is being sold by the owner, it is important for you to know that the process may be different. Here are some tips that you can use in purchasing FSBO homes:

  • FSBO sellers can be sensitive. Owners are naturally attached to their house, and may not be able to take your criticisms of the house well. Make every effort to be as courteous as possible when expressing your opinions about the house.
  • Before you seal the deal with your FSBO house, make sure that you have reviewed the documents. This would include papers that may be required by the state. You can also get a home inspection professional that would help you assess the house properly. This is because the owner of the house may not be disclosing al the information you have to know about the house.
  • Before you even go shopping for a house, make sure that you have already had your loan approved. This would give the FSBO seller the idea that you realy mean business and that you are actually purchasing a house.
  • Get everything in writing. If you can get a lawyer or a realtor, the better. Review the contract and all the other documents well before you sign and agree. Do not be so consumed with getting the cheapest rice for the house. However, do not go for houses that are priced too high. You can look for other houses, FSBO
    homes or otherwise.
  • Get a neutral third party such as a bank or a lawyer to hold your escrow funds until you and your seller both have reached your terms. Never let the FSBO seller hold the escrow.

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