Check out this detailed look at buying a home that’s for sale by owner. While an FSBO deal can be a big money saver for the seller, it’s not always the case for you, the buyer.
- using a buyers’ agent
- hiring a lawyer
- the necessity of mortgage pre-approval
- the escrow process with FSBO transactions
- CLUE reports
- hiring a home inspector
For Sale By Owner — four little words that can mean big savings for the seller, but not necessarily for the buyer. Homes being sold by their owners, also called FSBO homes, are listed without the assistance of a real estate agent so the seller can avoid paying a commission. FSBO sellers often set the price by looking at listing prices in the area, not at comparable actual sales prices.
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