Buying a home without professional comps of the area may significantly impact your purchase. A skilled negotiator, a Realtor, can assist you with the suggested amounts to offer, the conditions of the offer, and protection of your best interests in the purchase. In general, Realtor fees are paid by the Seller, so if the Buyer is obtaining free protection, information, and professional guidance and representation, it would be well worth thinking about.

In addition, FSBO's are often open to negotiating with a Realtor as the fee is often in the 50% range or the standard fee and the Buyer has already shown interest in the home.

It depends on how motivated the seller is. Does he have to move due to an urgent reason or does he have a number in his head and will not take a penny less? Make an offer and see what response you get. Good Luck!

It depends on what the seller is willing to accept. Make an offer and start the negotiations.

It depends. Depends on the house, the location, the current market conditions, and the comps. It also depends on whether the owner has done any rehabbing since then. Some owners put properties on the market; the don't sell; they're taken off and have some work done (carpeting, painting, maybe more like new bathrooms), then put back on the market. If you're looking for a magic formula, a rule of thumb, there isn't one. Also depends on whether it's gone into foreclosure. Lots of properties start out at one level in pre-foreclosure, then plunge as a short sale becomes inevitable or the banks take ownership. I've seen properties that were on the market for, say, $430,000 that might have been bought for $410,000 two years earlier get listed in the range of $280,000 as a short sale or REO. Otherwise, I wouldn't be surprised at any price within a range of, say, $389,000-$450,000.