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FSBO'S ARE THE BEST DEALS, RIGHT?
"I'm looking for a for-sale-by-owner property because that's where you find the real deals."
Who wouldn't like to cut out the middleman and save money on a commission? In the best of all possible worlds a seller wouldn't have to pay a real estate fee and that savings would be passed on to the buyer. But we don't live in an ideal world. What happens instead is FSBO properties are often over-priced! The seller of course believes that their unrealistic price is correct and the buyer may believe this as well because they have no professional guidance. By the way, a buyer's ability to surf the Web and to assess the value of a property via sites like Zillow for example does not qualify as "professional guidance."
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FSBO's can sell for more money early in the game when the house first comes up for sale. This is great news for sellers but not for unwary buyers; especially when a buyer needs to sell the house a few years down the road in a market that has either stagnated or has declined. And if you think the buyer is protected because the seller or a lender had the property appraised  ... think again. Lenders are in ... more

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