FSBO's vary, but don't go in without an agent. Dealing with a FSBO is tricky at best and your agent will invariably do twice as much work to get the deal done and keep it together. Sellers typically pay the commissions but as a FSBO it all varies.

You could go at it alone, this isn't rocket science but small errors often lead to big legal bills. Let me know if you need help -

Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
Prudential GA Realty
678-428-8276

Rush2112 -

I know Bartow county well and my mother-in-law lives in Cartersville. I would like to help you out on the FSBO.

John Reinhardt
REALTOR
Solid Source Realty
770-475-1130 Ext. 6806 http://www.InFrontMarketing.com

Rush,

As Chris mentioned FSBO'S must list their property close to what their mortgage payoff is and this is why they cannot pay commission. This indicates they are already in a money crunch situation.

Keep in mind that many homes today appraise for less than what is owed on them. So a FSBO purchase most likely will not be the best deal in today's market. A FSBO seller is usually not in a position to negotiate for less than they owe on the home.

If the appraisal comes back for less who will pay the difference?? Odds are not the seller. Your bank won't approve your loan over the appraisal amount. Look out that you don't waste too much time on this type of situation.

HUD homes and foreclosures are your best bet in today's market. If you need assistance don't hesitate to contact me.

You are correct! Sellers typically pay all commissions. On a FSBO....the seller is usually willing to pay a buyer's agent commisions. Usually they'll agree to pay about 3%. This saves the seller $ since they have not listed the property with agent.

Additionally, I would recommend that you have any agent you are planning to work with contact the FSBO for you to schedule the first showing. Reason being, the seller may not want to pay an agent commission if you contact them directly. Unless you are very skilled at buying and selling, I do recommend an agent that will look out for your best interest.

Feel free to call me if I can be of further assistance. Thanks! Kim Clayton 404-409-7253

That's what I thought, but I'm glad I asked..............we were about to go talk to the sellers without an agent! Thanks!

Rush, typically the seller pays both commissions upon closing. Chris is right on to contact an agent to ensure you don't get tangled up in a mess with this FSBO, the house may be adorable and a good deal, but could have a tangled mess of liens, structural/ inspection issues, and who knows what else! I can guarantee you that even if you agreed to pay an agent commission out of your own pocket for a FSBO, the agent will save you at LEAST what you paid them in commission through negotiation and determining a fair value. On top of that you will have peace of mind that the seller is not doing anything "screwy" with the contract or trying to pull something over your eyes. Though there are a few good FSBO sellers out there truth is in King County (Washington) where I live 7 out of 10 Real estate cases in our court are FSBO deals gone bad. I think most of those people in hindsight would have rather used and paid a professional in the first place than waste their time in court and on attorney's.

Good luck Rush!

Oops! Allow me to reiterate. Most people are FSBO in this market because their mortgage payoff is near to what their home is worth, and therefor can't afford a commisson. Thanks! Sorry for the confusion! :)

Hello Rush,
Congrats on your pre-approval. Way to go getting that done first. Now, the next step is finding an agent to represent you. In most cases, yes, the seller will pay your agent as an incentive for them to bring you, the qualified buyer, to their home for sale. If you are interested in a FSBO, then you still need to have representation. In this market, most FSBO's are still willing to pay your agent's commission, or at least a part of it. Sometimes, however, they are not. Not the smartest decision in this kind of a market, but then again, neither is being a FSBO in the first place. (Just my opinion Trulia members, please don't let me have it) Most sellers are FSBO right now because they just can't afford a comission period. This means they are motgaged close to their payoff ammount and may even be in short sale territory. Be very cautious of this. A short sale is difficult anyway, and without agents involved I would really think twice about getting mixed up in that mess. Start speaking to agents and lay your thoughts on the table. Let them know that you like the FSBO house and ask for their opinion on it. One word of warning....don't go visit the FSBO without your agent. If you meet the sellers and then come back later with an agent, they are likely to tell you to pay them yourself. In some cases, you can actually offer a higher ammount, have the seller "pay" the agent, ut all you are really doing is financing the commission. Talk the details over with an agent and also with your lender. Best of luck to you and happy hunting!