Is buying a home ';For Sale By Owner'; a good idea?

What are some of the pitfall in doing this? Why are the houses so much cheaper (other than not paying a realtor)?Is buying a home ';For Sale By Owner'; a good idea?
The pit falls are that in almost all cases even though they start with goood intentions the seller and the buyer don't know what they are doing and end up suing each other.


All the education, testing, requirements, licensing, rules, regulations and laws are there for a reason. In the least one of the parties should have a licensee and or an attorney.Is buying a home ';For Sale By Owner'; a good idea?
Realtors take a pretty good cut.. so the most obvious reason is that they need all the $$ they can get and want to sell it by themselves. As long as you have it inspected (which your mortgage broker will insist you do anyway) and you have a lawyer for all the paperwork... go for it.
No, especially if you are a first time buyer and had no previous exprience in searching for houses.


Unless you want to read all the disclosures and do all the legwork on your own then it's ok for you to buy ';for sale by owner'; properties.


They are not really cheaper compare to house listed on MLS





Buying properties on listed on MLS is much better for you are represented by an agent that will help you through the whole process and there more choices for to choose from
I have to agree with ';New Mexico Realtor'; for the most part. Before I was a realtor I bought a ';fsbo'; as we call it. WHAT A DISASTER!!! I was very ignorant as most buyers are... I did not say stupid, I said ignorant! This is not something people do every day and there are too many things that can turn a deal sour. We as realtors are go-betweens, occasionally we will have to keep buyer %26amp; seller apart for various reasons. What would you do if tensions got so hot that you and the seller were ready to come to blows??? It happens! For real. Besides that you have to have an inspection by a reliable inspector. There are a ton of crooked inspectors but there are plenty of good ones too. Who works with them the most? Realtors! Now what about mortgage companies, do you know the difference and how can you tell.. they all have their schpeel! Appraisers??? Surveyors? Lawyers? Title Company? Fees? How about your rights, what you can and can't do?


These are just the tip of the iceberg!!! I mean it!!





I just closed a deal that looked like it would never happen, too many glitches, I worked %26amp; massaged every way but Sunday. It finally worked but easily could have ended up in the trash. Don't take chances.


I would find a good realtor (and I'd be happy to find one in your area for you) who would represent me in the transaction and get me the best possible deal even if it is a fsbo because they know the ropes. Don't go around them, they can be your best friend if you choose them right!





Click on my picture and send me an email and I'll get you a realtor if you'd like!





Best Wishes!