Admin

For Sale By Owners: New home buyer beware... part 1!

By
Real Estate Agent with Crye-Leike Realtors

Buying/Selling a home is a complicated transaction that includes many legal forms required to comply with the law. Contact Brenda @ brenda@imsiloans.com

Real Estate Professionals spend hours in class to keep up-to-date on the changes so they can provide the best service and protect their Buyers and Sellers.  

Even with all the information on-line it is difficult for  non-professionals to completely understand and comply with all the required documents for selling a home.  

I have seen many Buyers disappointed when they purchased a home from a for-sale-by-owner.  

I hope that this series will help you avoid many pitfalls and give you a quick reference to some of the required documents.

 

Disadvantages of Buying a home from a for-sale-by-owner:

Pricing: many times the home is over priced

Terms: Many times sellers are less willing to negotiate

Property Condition: many times it is unknown

Contract: many times is not complete and/or one sided in favor of the Seller

 

If you click on the highlighted area you will find a detailed report.

Good Luck with your new home purchase...

if you have any questions feel free to contact

Brenda Tressler  

Click here for answers to your home buying/selling/financing questions.

 

Brenda Tressler

Loan Officer

Integrity Mortgage Services

(931) 206-1907 Cell

(931) 905-6900 Office

brenda@imsiloans.com

 

"Let me be your friend in Financing"

                                                                                                                                        Equal Housing Lender

Call Brenda for All your home loan needs!

Comments(13)

Show All Comments Sort:
Brenda Harmon
Century 21 Beal, Inc College Station, Texas - College Station, TX

Brenda,

Thanks for this miniseries.  :)  That's the way to work with FSBO's ( a step at the time!)

Nov 18, 2008 02:39 PM
Tim and Pam Cash
Crye-Leike (Sango) - Clarksville, TN
Real Estate Professionals - Clarksville TN

Brenda, you are quickly becoming a master at the blog - great new series.

Nov 19, 2008 12:04 PM
Frank Bailey Sr.
Keller Williams Realty - Schertz, TX
Your retired Veteran, your Full-Time REALTOR

Great post Brenda, very insightful.

Nov 19, 2008 12:50 PM
Debbie Salmon
keller williams - Vancouver, WA

Thanks for taking the time to post this ... excellent information

Nov 20, 2008 02:24 AM
Nikki Marlatt-Young
At Ease Home Inspections - Arbutus, MD
Housing & Rental Inspections

Before my husband and I were married he purchased his home from a "For Sale By Owner".

He says now he wishes he had NEVER done that!  

Having a Agent /or/ Broker to help him would have been the smarter route, then having a home inspection by a Licensed Home Inpsector would have been an even smarter route. 

The house was over priced and the repairs that needed to be done along with the upgrades were costly!  

Needless to say we still own that property, only we have turned it into one of our "rental units"

 

Nov 20, 2008 03:03 AM
Brenda Tressler
Crye-Leike Realtors - Clarksville, TN

Hello!Brenda: Thank you for taking the time to leave me a comment... Brenda :)

Tim & Pam: Thanks again for your kind comments... I hope you are having a great day! Brenda :)

Frank: Thank you so much for stopping by to visit and leaving me such a nice comment. Brenda :)

Debbie: Thank you for leaving me a comment... I always struggle on what to post; so you comment means a lot to me! Brenda :)

Nov 20, 2008 03:07 AM
Brenda Tressler
Crye-Leike Realtors - Clarksville, TN

Hello!Nikki: Thank you so much for your comment... I was not sure about posting this but I have seen so many buyers that ended up like your situation. I just hope this will help others... because a real estate deal should be win/win for all! Thank you again for taking the time to leave me a comment! Best wishes... Brenda :)

Nov 20, 2008 03:40 AM
Brenda Tressler
Crye-Leike Realtors - Clarksville, TN

Hello!

Rebecca: Thanks to you for visiting me and leaving a comment. I am never sure what to write; so thanks for your kind words... Brenda :)

Nov 20, 2008 11:18 AM
Brenda Tressler
Crye-Leike Realtors - Clarksville, TN

Hello!Dale: Thank you my dear friend... if you do not have a good feeling then I am staying away from it. Thank you so much for your support and watching my back! Brenda :)

Part 2 of your comment... I deleted that comment... I did not want anything on my post that was not good for AR members. Thank you so much for all your concern & advise! Your friend always Brenda :)

Nov 21, 2008 01:30 PM
Frank Bailey Sr.
Keller Williams Realty - Schertz, TX
Your retired Veteran, your Full-Time REALTOR

Dale is on it!!

Nov 21, 2008 01:46 PM
Brenda Tressler
Crye-Leike Realtors - Clarksville, TN

Hello!Frank: I am so thankful that I am with such a great group of people here... I have never posted anything until AR... So I trust Dale and the friends that I know... Thanks for your support! Brenda :)

Nov 21, 2008 01:53 PM
Frank Bailey Sr.
Keller Williams Realty - Schertz, TX
Your retired Veteran, your Full-Time REALTOR

You're right Brenda, it's good that we have this forum to establish rapport and build trust.  It only takes one to mess it up for all.  Dale was on it.

Nov 21, 2008 01:58 PM
Brenda Tressler
Crye-Leike Realtors - Clarksville, TN

Hello!Being so new at this stuff I feel very lucky to have met people like you here on AR... Thanks for being there for me! Brenda :)

Nov 21, 2008 02:04 PM