If you’re searching for a home, you’ve probably stumbled upon a listing as “For Sale by Owner” or FSBO. There’s a decent amount of apprehension about buying a home when it is for sale by owner. Is it easier? More difficult? Here’s some things you should probably know about FSBO homes, according to Brendon Desimone with Zillow Porchlight:
Ask your agent to contact the sellers – even though they don’t have an agent representing them, your agent is likely familiar with FSBO sales and can navigate the negotiations of home buying with your best interests in mind.
Don’t let FSBO listings scare you off – a great home is still a great home. Having to meet the seller in person can be awkward for some, particularly because the sale of their home can be emotional, writes Desimone.
Keep in mind that just because it’s a FSBO, the sellers are still beholden to the laws that mean they should disclose any issue with the home. Talk to your agent about your concerns.
Homeowners tend to have an inflated opinion about their homes value, so overpricing could come up as an issue.