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Happy "for sale by owners"

By
Real Estate Agent with OwnerLand Realty SAL2006007409

There are thousands of For Sale by Owner or FSBO homes across the country. Often, a seller will tell an unsuspecting buyer, "if you buy my home without using a Realtor, I will give you a better price." Is it really such a good deal???

I'm often contacted by someone that recently bought a home and found out they got a lemon. The reasons vary, some may say, "the seller didn't tell me about the liens against the property" or "the seller didn't tell me the basement floods every time it rains" or "I had no idea that the garage in the backyard was sitting half over the neighboring property line and now they want it removed" or "I didn't realize that a lost heir could come back and lay claim to MY home" or "the seller didn't tell me about the new landfill that is going to be built nearby in the spring".

I could go on and on about the complaints that I've heard and some that I've heard from my colleagues. I think you get the point. 

WHY would anyone buy a home (their single most expensive and important investment) without having a professional Realtor representing them? In almost all cases, the Seller pays the Buyer's Realtor fees!

These people must have just sold their home that was infested with termites and didn't bother to tell the young buyers about them and sold the home "as is".

for sale by owner

David Saks
Memphis, TN
Broker / Industry Analyst

Great information and thank you for sharing. Hopes for your continued success.

Nov 22, 2013 09:06 PM
Jeff Fisher
PureWest Real Estate - Whitefish, MT
PUREWEST REAL ESTATE/Christies

I think we all get the point, but it's all pat of the education process. I've been hearing horror stories as well from buyers of FSBO's who didn't have the proper disclosures or paperwork to protect them.  Sometimes you just have to shake your head.

Nov 22, 2013 10:21 PM
Raymond Patterson
The Patterson Team @ Keller Williams Excellence - Lutherville Timonium, MD
President - Patterson Team Homes

Also, listing your home without the proper disclosures could lead to a substantial lawsuit against the seller.  Is it really worth risking your financial future to sell a home and hide the defects from the buyer just to save a few dollars??

Nov 23, 2013 01:19 AM