A lot of homeowners are climbing the FSBO bandwagon, as selling through agents becomes more impractical as the economy continues to suffer. However, if you are a house buyer, what are the things you have to remember when dealing with FSBO houses? It can be as demanding for a buyer as it is for a seller. Therefore, it is highly important to take note of everything about the market. It can be favorable for the buyer, since a FSBO house is typically more affordable than one that is sold through a real estate agent.
As the housing market continues to be bleak and pale, every house buyer has to be wise. Here are some points you have to consider when you are buying FSBO properties:
- Make sure that you are upfront in dealing with your real estate broker. A lot of house buyers work through real estate agents, and a lot of them are paid a percentage of the total price of the house. Unless you are willing to pay for the 3 percent commission, it is best that you convince the house owner to pay the commission. Just do not forget the commissions are negotiable and you might even lower it to one or two percent.
- Seek help from a professional. Even when you buy a house through an agent, it is still important to get an appraiser for you to be able to get a good price range of the property you are looking at.
- Search carefully. House hunting should be done with utmost care. There are some FSBO houses that are not included in the Multiple Listing Service, so it is best if you check the newspapers, and also look at other information sources such as bulletin boards and your contacts.
- Research well. When you are looking at an FSBO house, you might not be informed of things that may affect your decision to buy the house, or even the price that you would pay. You can ask around the neighborhood to gather information about the community and perhaps the house that you are eyeing. You can even ask the help of a lawyer to get disclosure forms that should be filled up by the seller.
The key in buying an FSBO house is to exhaust all your resources well to find all the necessary information that you need.