Who pays for what when dealing with a For Sale By Owner?

Asked by Tina Lynch, Pilot Mountain, NC Fri Mar 23, 2012

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Suzeeq2363, , Mount Airy, NC
Fri Mar 23, 2012
Everything is negotiable. The buyer may ask seller to pay their expenses, meaning buyer brings little money to the closing table. The buyer may/should have seller provide a warranty on the home.....
Buyer, Consult a Real Estate Pro like me to look out for your interests. Why would any buyer try and do what we do everyday?? We don't cost the buyer a penny.
But, again negotiate to suit your needs. Good Luck to you.
0 votes
Don Tepper, Agent, Burke, VA
Fri Mar 23, 2012
Two answers:

(1) It's all negotiable.

(2) Often, the buyer and seller try to pattern the fees after what's the norm in their area. And those norms or customs can vary.

If you're the buyer, hopefully you have a Realtor who can inform you about what's typical in your area, and then help you negotiate so you get at least that and perhaps more.

Hope that helps.
0 votes
Jim Simms, Mortgage Broker Or Lender, Louisville, KY
Fri Mar 23, 2012
Very good question, guess it explains why I never close loans that do not have at least one Realtor involved. I would cover this with your Realtor, good luck,
0 votes
Andy Matejka, Mortgage Broker Or Lender, Greensboro, NC
Fri Mar 23, 2012
It depends on what is negotiated in the contract. I'd strongly recommend having your Buyer's Agent consult you on this.

Of course, I am assuming you are using a Buyer's Agent. If you don't have one I am sure your loan officer can refer you to a good one!

Of course the topic of FSBO can be dicey.....that's why so many FSBOs eventually turn to a Realtor.
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