A Happy Ending for my Buyer who came out of a FSBO nightmare

By
Real Estate Agent with RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590

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

Posted by

 

Serving Marion, West Memphis, Crawfordsville, Hughes, Horseshoe Lake, and surrounding areas.  If you are planning to sell or buy, please feel free to give me a call, find out if I am the right agent for you.

 

 

 

Rita Fong, REALTOR®

RE/MAX Real Estate Today

1813 Highway 77  Marion, Ark. 72364

cell:901-488-9590

office:870-735-4663

fax:870-735-4668

http://www.ritafong.remaxarkansas.com

Like me @ facebook

 

 

 

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Ambassador
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Great advice Rita! I'm glad it worked out, congrats to all!

Sep 08, 2011 10:07 AM #1
Ambassador
1,187,383
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Rita. Some nice advice for any buyers, especially first timers. It's amazing how buyers try to save a few dollars by approaching a FSBO themselves, and end up spending BIG bucks after they own the home.

Sep 08, 2011 10:10 AM #2
Rainmaker
306,355
Chris Canfield
Coldwell Banker Residential Brokerage - Tucson, AZ
Homes for Sale in Oro Valley and Tucson, Arizona

Hi Rita - Transactions are getting tougher every day; trying to deal directly on a FSBO is destined to be a nightmare.  Glad your buyers found you!

Sep 08, 2011 01:42 PM #3
Rainmaker
3,985,587
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Glad things worked out finally.  Buying or selling is like trying to wire or do plumbing on your home when you have no idea of what to do.

Sep 08, 2011 01:55 PM #4
Rainmaker
504,201
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Rita - So glad they found th perfect agent to lead them out of the mess and through to a smooth close on their "perfect home".

Sep 08, 2011 02:00 PM #5
Rainmaker
941,698
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Hi Rita, I visited a FSBO today and the biggest concern for them was the commission.  But they have no idea how to price their home or how the market is doing.  I'll know in a few weeks if I get the listing.......I should say, when I get the listing.  LOL!

Sep 08, 2011 02:56 PM #6
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Wanda, so many buyers think they can save a little money by doing it themselves.  I really can't understand that part at all.

Sep 09, 2011 04:07 AM #7
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Jerry, with all the new regulations and rules changing so often, it is certainly the buyer's best interest to have an agent to help and guide them along the transaction all the way to closing.  It is a free service to the buyer of all kinds, why would they think it is better not to have an agent to work for them just amazes me.

Sep 09, 2011 04:10 AM #8
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Chris, I am glad they could get out of that contract without losing a whole lot of money.

Sep 09, 2011 04:11 AM #9
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Bill, I will never attempt to do anything or get into anything that I have no knowledge of or whatsoever.  I know I probably will be end up paying more for someone else to pick up the mess that I may have made.

Sep 09, 2011 04:13 AM #10
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Leah, I am just glad they found the right home for them, and I am chosen to help them to get their dream house.

Sep 09, 2011 04:14 AM #11
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Kay, I hope you get the listing.  Home owners have no idea how complicated a deal can go and how many things can go wrong after a contract is executed. 

Sep 09, 2011 04:16 AM #12
Ambassador
1,314,172
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Rita -  that's what I tell my Buyers too;  if it seems too good to be true, it is!   Good job!

Sep 09, 2011 02:47 PM #13
Rainmaker
333,794
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Susan, many times our gut feelings are right, and we just don't follow it.......

Sep 09, 2011 05:20 PM #14
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Hi Rita, good thing these buyers got out of the sale without too much trouble. People think it's easy to buy and sell real estate until they run into problems!

Sep 12, 2011 01:40 PM #15
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Rita Fong

Realtor - Marion Arkansas Homes for Sale
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