Buying a FSBO
Should you use an agent when considering a home that is For Sale by Owner?
When looking at them, here are a few things to consider:
Use a buyer's agent. Typically FSBO's are prepared and willing to work with a buyer who is represented with an agent and they normally will agree to compensate the agent through a typical buyer's commission. The peace of mind that a good buyer's agent will provide in negotiating and protecting your interest in all aspects of the purchase process is extremely valuable to you. FSBO's are rarely priced appropriately so having an agent on your side gives you access to comparable sales data to help you negotiate the right price.
Home inspection. A home inspection can identify any potential issues before you go through with the sale. A good buyer's agent will have access to professional inspectors and can protect your interest through inspection contingencies built within the contract.
Other contingencies to your contract. Contingencies protect your financial interests and provide you with a means to rectify or get out of a transaction should things not go as planned or issues arise. As an example, what happens if the property does not appraise?
We have a strong track record of working with buyers who have decided to purchase a FSBO, so get in touch with us today if you have one in your sights.