What are the benefits or drawbacks to expanding my home search to include FSBOs and foreclosures?

Asked by Halley S., New York, NY Mon Apr 23, 2007

How does the buying process for foreclosures or FSBOs differ from homes sold by agents?

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Yasmeen Hill…, Agent, Rohnert Park, CA
Thu Jun 14, 2007
Although foreclosures are known to present "great deals", they can be a lengthy and drawn out process.

FSBO home sales could be risky if you don't have a professional representing you. A realtor can make sure the proper disclosures are signed and really negotiate with your best interests in mind. The benefits of buying from a FSBO are far less than the risks of buying from one unless you are an educated investor who really knows the market, negotiations and the needed disclosures for the transaction.
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Doug Hecker, Agent, Petaluma, CA
Mon Apr 23, 2007
FSBOs usually list with realtors after months of unsuccessful attempts to sell. Foreclosures are increasing and the possibility of purchasing a foreclosure and getting a good deal is more prevalent.
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