|
Dealing with FSBOs
FSBO – or real estate speak for “For Sale by Owner” – sometimes presents challenges to buyers and makes sellers curious. If you are buying a home that is for sale by owner, don’t be intimidated. The main importance is the legal wording of the sales contract, and if you hire an attorney who specializes in real estate law to help you review anything before you sign it, you’ll be just fine. And if you have trouble getting a traditional loan, look for FSBO sellers who offer owner financing. They are often a great source of loans for those who have been turned down my conventional mortgage lenders.
If you’re thinking of selling as a FSBO, in order to save some money on real estate broker commissions, do a little homework and read up on how it all works. Many websites, for example, have free information geared toward FSBO sellers, and they also will let you advertise your house on their site. You can also find books at your bookstore or library to help you learn the tricks of the trade, before you put on your real estate sales agent hat and go the route of the do-it-yourself FSBO seller.
.
Real Estate Investing |
