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Kathryn Stelljes' Blog

By Kathryn Stelljes PA | Agent in 32803
  • What is a For Sale By Owner?

    Posted Under: General Area in Orlando, Home Buying in Orlando  |  March 25, 2014 2:08 PM  |  326 views  |  2 comments

    I recently had a friend in another state ask me about whether to use an agent to purchase a For Sale By Owner.  The answer is Yes with a capital Y.   A For Sale By Owner is someone who is selling their home without the use of a licensed real estate professional or has limited representation (meaning no one there to help them along the way).   

    If you are purchasing a home, this will likely be the biggest investment of your life.  You would probably not purchase stocks or bonds without seeking advice from a financial advisor or stock broker, right?  Perhaps even your CPA?   This is the same thing – you’re making a major life decision with a lot of money on the line.  It would be a smart financial decision to hire a buyer’s agent to help you negotiate the sale and proactively work with the seller to avoid any issues and ensure you’re protected.  

    If the For Sale By Owner is a serious seller they will pay your agent a commission because they want to sell the house.  If they are unwilling to pay you may want to ask the question – are they serious about selling the home?

    There are many issues that can arise during a transaction.   These types of issues are especially prevalent in today’s market with strict mortgage guidelines and especially in my area of Downtown Orlando market where many homes are 70-80 years old.  Whether it’s an appraisal issue or an insurance issue, an agent can help guide you and the seller to an agreeable solution and take emotions out of the picture.

    But let’s be clear, not all licensed agents are the same.  You want to hire a professional agent who works daily in the real estate industry, not your friend who got their license last year to save themselves a couple bucks on their own home purchase. 

    Save yourself time, energy, money, and headaches by hiring a professional buyer’s agent when you’re purchasing a home.  Also Here are 8 Important Questions to Ask when Hiring Your Buyer's Agent!


    *Image credit:  Casey Serin via Flicker using Attribution License

 
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