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Asked by Jenny, Eagle Bridge, NY Fri Jul 4, 2008

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5
Scott Roberts, , Olympia, WA
Fri Jul 4, 2008
If you want to do this on your own, just call the seller and make an offer. Most FSBO Sellers are armed-and-ready with some type of real estate purchsae and sale agreement. If you are experienced then you will know how to navigate through the issues such as disclosures, title transfer, possession etc ..

If you are an inexperienced home buyer remember caveat emptor -- let the buyer beware. I would recommend getting a seasoned real estate professional to help you with the transaction. I bet at the end of the day it won' t cost you any more.
Web Reference:  http://www.rscottroberts.com
2 votes
Bill Eckler, Agent, Venice, FL
Sun Jul 6, 2008
Jenny,

A word of caution.....

We find that generally FSBO ownershave a poor grasp on the actual value of their homes relative to the current real estate market. What that means to you, is that if you are inexperienced in real estate, you could become a victem of purchasing a home that is over priced.

Many buyers mistakenly feel that because the FSBO owner does not have a listing agent involved they are selling their home at a lower price. The reality is many of these homes are priced too high....a skilled real estate professional will protect you from being exploited and find your perfect home.

Good luck,

The "Eckler Team"
1 vote
Holli Boyd, , 12110
Sat Jul 5, 2008
I work and live in Rens. county and would be more then happy to help you with this home purchase or any other - if nothing else I can give you an idea about what other homes in the area have sold for so you can make an educated purchase offer. Visit my website or call me at 518.281.4398
Web Reference:  http://www.holliboyd.com
1 vote
Ronda Deakins, Agent, Spokane, WA
Fri Jul 4, 2008
The most important thing about buying a home is to have someone represent your legal interests. FSBO's are representing their legal and personal interests and of course want to sell their home. It may or may not be a good buy. It may have underlying conditions that affect the property that you as a buyer need to know. A Realtor is trained to represent their clients in negotiating an offer on a home, giving recomendations about home inspections, the value of the home, title, lending options ect. You need to find a local realtor that can represent you and protect your interest in purchasing any home. They probably can negotiate a better deal for you and the sellers will be thrilled to get an offer in any case. If that home doesn't work out your realtor will probably have more inventory of homes for you to see. Remember you are finding an agent to represent you so find one that fits with your needs. I hope this helps.Ronda
1 vote
Thomas McGiv…, Agent, Farmingville, NY
Sun Jul 6, 2008
Knock on the door or call the number on the sign. Ask how much and ask if they'll work with a real estate agent. If they will pay a realtor commission - find a local realtor, ask them to assist you. you don't need a real estate agent, but they help to help you establish market value - so you don't overpay for the property. And actually a professional appraisal will help you determine that - but you also need to know the market values to make a good offer. FSBO's generally overprice their homes - dramatically in some cases.

Also - if you're not preapproved for a mortgage - do this FIRST (assuming you'll need a mortgage). You can also find out what kind of mortgage the owner has and possibly assume their current mortgage, especially if they have a good rate. Most mortgages do not allow the loan to be assumed, but there's ways around that and it can be negotiated with the lender. if they have no note on the property, then you might be able to have the owner hold the mortgage - check with a real estate attorney (note a REAL ESTATE attorney) to find out details about the law in your state.

Good luck!
Web Reference:  http://www.noobdogs.com
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