Should I try for sale by owner, or as someone asked me, "Don't you think that is best?" More than 60% of lawsuits involving real estate transactions involve for sale by owners.
Why would you think that would be? There are several reasons I can think of.
1) No property condition disclosures;
2) No comprehensive contract;
3) No knowledge of process;
4) No knowledge of loan types and ability to talk with lenders in a productive manner;
5) No idea what to do if the house doesn't appraise for contract value;
6) No knowledge of how to handle issues when they arise (and at least 95% have issues from minor to major).
I am sure there are more.
About 90% of for sale by owners list with agents to get their houses sold. A house is your largest investment. Leave it to the licensed professionals. We take 12 continuing education hours every year to keep us abreast of changes. Those of us who have been in the business for several years may have taken additional training. Those initials behind our names mean just that. For example, National Association of REALTORS (NAR) has multiple designation courses; i.e., SRS (Seller Residential Specialist); ABR® (Accredited Buyer Representative®); GRI (Graduate REALTOR Institute); CRS (Certified Residential Specialist).
We sell multiple houses every year. I would even be leery of buying a for sale by owner house for the same reasons cited above.