Home Buying in 77571>Question Details

Miller6371, Home Buyer in La Porte, TX

i might want to buy a for sale by owner but they are not wanting to pay any fees. What kind of money will we need to do this?

Asked by Miller6371, La Porte, TX Thu Jun 7, 2012

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No way to answer you question with any kind of certainty because your post doesn't contain enough information. Do you mean only buyer's closing costs / fees....both buyer's and seller's closing costs / fees....buyer agent fees?
0 votes Thank Flag Link Thu Jun 7, 2012
They didnt want to work with our realtor and the owner said that they wouldnt help pay any of our closing cost and we would have to get our own appraisal done at our own expense. I think we will not go through with it.
Flag Fri Jun 8, 2012
This is the problem with buying a FSBO home. Most sellers don't understand they will have to pay some fees. They will have closing costs even without using a realtor.

Depends on the price of the house, but I would expect in most closings the seller will have 2% or so of the price of the house in closing costs. This includes title insurance, survey, home warranty, escrow fees, etc.

It's risky to buy a FSBO as you can run into a lot of roadblocks like this. Why not get a buyers agent who can walk you through the process to buy a regular resale. It might actually cost you less money.
0 votes Thank Flag Link Thu Jun 7, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
The seller has a motivation for why they don't want to pay fees.
Do they think they don't have to?
Can they only net enough off the property to break even and paying fees will cost them to close?

Is the property priced right for a no fees deal?
If it appraised for more, would they raise the price and then pay fees?

Bottom line: They are for sale buy owner and not by realistic realtor.
You need to have a preliminary chat with a buyer's representative. You would be a fool to buy a property without professional representation.

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0 votes Thank Flag Link Thu Jun 7, 2012
Deoends on the fees, are they realtor fees, closing costs fees, repairs etc? If you don't already have a realtor, get one. They can help you! If this person really wants to sell his house they will cooperate, other wise run!
0 votes Thank Flag Link Thu Jun 7, 2012
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