Here are some key questions....
What was the purpose of the house...Was it an investment or his/her residence?
Who did the (if any) work on the house?
Why is he/she selling the house?
I would feel much better buying a personal residence than an investment property, and I would feel much better working with a REALTOR or ATTORNEY on my side of the transaction. It will most likely come out of your pocket, but better spend a few thousand to save tens of thousands.
I hope this helps!!!
Gary De Pury
Bay Vista Realty
Chairman, Communications Committee
Greater Tampa Association of REALTORS
Director, Florida Association of REALTORS
If the FSBO is not willing to pay a commission to a co-op agent working for you I would not look further into the purchase.