In SC, We have a prequal, What is the step by step process for buying a home from a For Sale By Owner?

How do we start. First time home buyer. House is being sold by owner. We don't know how to make offer? What does the seller give us as far as documents? Shouldn't the owner remove house from market to begin negotiations? We have financing? What do we do?In SC, We have a prequal, What is the step by step process for buying a home from a For Sale By Owner?
If you're a 1st time home buyer, I would strongly suggest that you find a real estate agent to represent you. You'll pay a commission, but trust me, its money well spent. Buying your 1st home should be a pleasent experience. I would also go to a barnes %26amp; noble or borders bookstore and purchase a book on real estate or home buying. All of the terminology, types of loans, and even programs for 1st time home buyers should be in the book. Where do you have your financing from? If its a bank, then your loan officer should also be able to tell you the paperwork you should expect from the seller. You need to get the home inspected to make sure there are no repairs that you need to make after buying the house. Try bankrate.com for immediate help www.bankrate.com/brm/rate/mtg_home.asp but buy a book on real estate at a minimum. If you have a prequalification, finish the process and get final approval so you will know how much you can actually borrow.In SC, We have a prequal, What is the step by step process for buying a home from a For Sale By Owner?
Find a REALTOR! Don't attempt to do this alone. You have no idea what you area doing. Do you really want to risk the most expensive purchase you have considered just to save a few dollars?





A REALTOR will walk you thru the entire process from writing the offer thru closing and possession.
I agree with most of everything above... But adding--you really dont benefit financially by buying from by owner... What are your savings? If any, then maybe you want to pass some of those savings along to an experience Real estate Agent to help you. I bet your savings aren't much...mostly all seller's.. Get professional help this being yur first home.... If all fails I am sure his is not the only good property in the market for a good price... Play it safe... Good luck.