Does buying from a sale by owner benefit the buyer?

Because they don't hike up the price working with a realtor?

Re: Does buying from a sale by owner benefit the buyer?

That is what I was going to say...they maybe a little more negotiable because they won't have the huge realator fee.
good luck!

Re: Does buying from a sale by owner benefit the buyer?

yes/no. a smart seller would find out how much their house is worth (true market value) and then start the price there and not factor in Realtor prices. Many FSBO's have this wild sense they will get exactly the purchase price, plus what they invested in the house, plus extra and really don't get fair market values and appreciation or depreciation. So it can go both ways.

Re: Does buying from a sale by owner benefit the buyer?

As a seller/buyer, I would never go in unrepresented.. I may know some about real estate (I was licensed for years) but when it comes to interests, I need the best to handle it and make sure all my t's are crossed and i's are dotted..

Whenever I was looking for homes I was always wary of FBSOs.. I never saw the price as negotiable but rather hte opposite, for the most part, they usually thought their house was worth more than what it should be..

Re: Does buying from a sale by owner benefit the buyer?

Re: Does buying from a sale by owner benefit the buyer?

Re: Does buying from a sale by owner benefit the buyer?

I agree - a lot of FSBOs are overpriced, and in my view, not that motivated. A lot of the ones I speak to make it clear that they don't NEED to sell, but they are testing the market, and they would sell IF they can get their price (which often is based not on market value but on their own financial needs or desires).

I think the stat is something like 86% of FSBOs eventually decide to use a realtor, so I think selling on their own doesn't work for most people, and people who ultimately really need to sell will engage a realtor's services.

Also, it is surprising how many FSBOs aren't really aware of the selling process -- the steps, required disclosures, etc. Those are things that agents deal with every day and can help with. I think buying a house is stressful enough -- don't you want an expert involved who can guide you through the transaction from beginning to end?

Re: Does buying from a sale by owner benefit the buyer?

We bought our house FSBO and got a good deal on it.

The sellers were motivated (their parents had just been moved to an assisted living facility).

One thing though is that thankfully we had a great attorney to help us because we didn't have the help of a realtor to walk us through and we were extremely confused.

Re: Does buying from a sale by owner benefit the buyer?

our house was FSBO, they listed at market value and we offered 80k less than that. wound up paying 49k less than that. i felt that a benefit of the transaction was that there were fewer people involved. however, i also feel the people we bought from were execptionally nice and genuine (and i don't throw that around loosely lol), so perhaps that had something to do with how well everything went.

Re: Does buying from a sale by owner benefit the buyer?

We stopped into only one FSBO when house hunting (it was a random open house we spotted while driving). As far as we were concerned, the house seemed to be overpriced. I think even if we had been more interested in the house, I would have been very leery of buying it FSBO, but that's just me.

Re: Does buying from a sale by owner benefit the buyer?

We bought a FSBO and though at first they seemed a little crazy, we got a decent deal on our house and our REA really got us a lot of extras. It pays to have someone working for you.

Re: Does buying from a sale by owner benefit the buyer?