One reason selling by FSBO is not as easy as you think

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

What do you do when a Real Estate sale goes wrong? You look to your listing agent to fix and or solve what the issue is. In this case though, the seller wanted to save money and sold for sale by owner.

 

I was interviewed for the job, but the seller thought selling the house would be easy. He proceeded to make mistake after mistake. He priced the home low for a bidding war, but only got 1 offer. The buyer then asked to move things in before the closing. The seller allowed it. Then the buyer asked if he could sleep there as he had no where to go as they moved out of their appointment. The seller allowed them to sleep in the finished basement while they still lived upstairs awaiting closing.

 

Then came the news the mortgage was rejected. There would be no closing. The seller then asked the buyer to move out. The buyer said no, he had no where to go. The seller learned he would have to evict them. The issue is no evictions are allowed in NH right now. The seller finds his home and driveway invaded. He came home to the buyer and their kids in his pool. Their driveway blocked with the buyers visitors, also in the pool. 

 

The seller not knowing what to do, called me as he said he would have listed with me if he had know selling on his own was so hard. 

 

 

IN SUMMARY, there was not an easy fix. He had the buyer sign nothing. He had no money from them. They are not paying rent. I introduced him to a great real estate lawyer who can help. The seller wants out and wanted to sign a listing agreement right away.

 

IN THE END: We signed the listing. The lawyer is doing his thing. This stories ending is not written yet, but a good plan is in place. Had he just listed, the home would have sold at a price much higher and more than paid the selling commission. 

 

I leave you with my infamous thoughts, My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 34 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

 

 

We stand by you through every step in selling your home
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Comments (16)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Scott... that is the dilemma of our business... good agents make it all look so easy... and it's not!

May 23, 2020 06:16 AM
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I agree with Nina too!  Everyone sees HGTV and thinks I can do it!

May 23, 2020 07:07 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

OMG! Truth is stranger than fiction, another chapter in that book. 

May 23, 2020 07:23 AM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

OMG . . . that seller got way more than he bargained for and now he's got an unsellable house with a squatter! 

May 23, 2020 07:50 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I remember a number of years ago, Sacramento had more than its share of FSBOs.  But then, a group of "home buyers" came in, bought up a number of them, and then turned around and sued the sellers for failure to disclose.  One of the big mistakes some FSBOs make is hiding flaws rather than disclosing them.  And, fraud can be a quick word coming out of a buyer's mouth!

May 23, 2020 10:04 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Scott, on having this blog FEATURED in the Old Farts Club group!  

May 23, 2020 10:05 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Talk about unintended consequences!  What a harsh life lesson to learn! At least the seller was ultimately smart enough to reach out to you for help! 

May 23, 2020 10:19 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

FEATURED IN CRAP-TACULAR

 

 

This is DOUBLE CRAPPY!

 

 

Congratulations on securing the Listing!

 

May 23, 2020 10:21 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Oh wow.  The creepy people downstairs.  I’m thinking this would make a great movie 

May 23, 2020 02:17 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Scott- some people have to learn the hard way. And gee look at how much money and grief your seller saved by trying to go it alone. 

May 23, 2020 05:07 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

My last closing was dealing with a fsbo and they had it easy in comparison to what they put me through 😧

Happy Memorial Day Weekend Scott Godzyk 

May 23, 2020 09:45 PM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Scott,

A story every FSBO should read,  Carol Williams, here you go

May 24, 2020 01:57 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Trying to save money can be very expensive... emotionally and financially.  Hiring a professional agent is not an expense. It is an investment. 

May 24, 2020 07:50 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

this is a horrible story - I am glad they called you to get them back on the right path - clearly they could not manage it on their own

May 25, 2020 06:26 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Scott - is there a good time to needlessly risk an opportunity when selling a property?  Yeah, I can' think of any example either.  

May 25, 2020 04:10 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Scott:

What an awful story. What a tough set of lessons for that seller to have to learn...and costly in more ways than one.

Jeff

May 25, 2020 05:24 PM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

That really depends on the neighborhood. Across from Apple Spaceship homes are getting sold in hours without an open house. Most offers are submitted buyers have not stepped inside. Most know what to expect. People post a sign FSBO-no realtors please. Then PENDING w/o realtors.  After closed it changed the sign to SOLD w/o realtor-multiple offers rec'd.

Jun 22, 2020 06:28 AM