As a real estate agent, I tend to cringe when I hear someone wants to buy a FSBO house without an agent, especially if they are first time buyer. It is way too risky to enter a twilight zone like that without any proper guidance at all.
I have a FSBO nightmare to tell today. I got a call from a young couple about a month ago, and wanted to see a very cute older home and they told me they were already pre-approved to buy. After meeting with them, they told me they were buying a house which was FSBO and it was fine at first. As the process continued, more and more things were not adding up. First, the appraisal asked for a lot of repairs, including structural engineer report for the foundation of the house. Then, it did not pass the termite inspection, and that drew the line there for them. They decided they needed to terminate the contract.
They thought they could handle it by themselves, they thought they found their dream house for right now, and the owners seemed very sweet and nice. They told them they would work with them in any way..........
Thanks goodness for them to be able to terminate the contract from the seller, and we put an offer on the cute house that she wanted since it was on the market last time. It was sold and now it is for sale again, and she said she is determined to buy it this time, and she did.
With the terrible home buying experience the first time, she naturally will be more worried if the same things are going to happen again. Fortunately, everything went very well and we closed yesterday!
She was smiling from ear to ear at the closing, and so excited to be a home owner. She is so thankful to have an agent to walk her through the process all the way to closing, and I am honored to be that agent for her.
Motto of the story:
1. If something seems too good to be true, it probably is.
2. Never buy a house without a real estate agent who you can trust and depend on.
photo courtesy : flckr/marsmet45