How to Buy a Home for Sale by the Owner
When working with FSBO sellers, keep these steps in mind.
FSBO (For Sale by Owner) properties are more common in a hot seller's market when sellers get their asking price and sometimes even more.
Remember, however, that the owner is saving commission costs, so be prepared to bargain.
If it's not a seller's market and the owner has had difficulty selling the home, you could reasonably make an offer considerably lower than the asking price.
Consider hiring an attorney or a buyer's broker to work with you when buying a FSBO home. (You'll have to pay the broker's buyer yourself.)
Fear that a FSBO transaction may not go as smoothly as one handled by a seller's agent doesn't mean you should avoid a home you'd like to own because it's being sold directly by the owners. You might find one while surfing the Internet or driving through a neighborhood you'd like to live in. Or you might find one through a buyer's agent -- a representative for the buyer who casts a wide net to find appropriate homes for sale -- regardless of whether a real-estate agent or owner is selling it. Buyer's agents often research homes using FSBO magazines or Web sites and other channels beyond the MLS, where real-estate agents (but not owners) can list homes they represent.
viaFSBO.com will help you find the best FSBO services available on the market, whether you're are buying or selling a home this way.