Tips for Buying a House for Sale by Owner and Avoiding Common Pitfalls

1. Tips for Buying a House for Sale by Owner and Avoiding Common Pitfalls If you’re ready to buy a new home and move in right away, try buying a house for sale by the owner. Many sellers list their homes as FSBO to save money, as this process eliminates the hefty commission that goes to the listing broker. Thinking about buying a house for sale by the owner? While it might seem like a simpler process, there are a few common pitfalls you need to watch out for to make sure that you are protected. Here are some tips to help you avoid these mistakes and put you on your way to a smooth and successful home-buying experience. Mistake: Not communicating with the homeowner Buying a house for sale by owner gives you the advantage of being able to communicate with the property owner directly. This direct interaction lets you ask questions, understand the homeowner’s motivations, and learn more about the property. Plus, you can negotiate the terms. However, all these are possible only when you openly communicate with the seller. Always maintain transparency with the home seller for a smoother process. Mistake: Settling for the asking price Buying a property listed as an FSBO home means you have higher negotiation power. Most FSBO sellers are willing to negotiate, so take this opportunity to find ways to save money. Take advantage of the opportunity to request concessions that don’t have anything to do with finances, such as leaving behind appliances, furniture, and window treatments so you don’t have to buy them anymore. Mistake: Not requesting more information about the home Some FSBO listings don’t show enough information about the house, and some FSBO sellers might not use the right terminologies. For example, they might not clearly explain the difference between a den and a bedroom, or they may be unaware of local zoning rules and noise restrictions that apply to their property. To avoid surprises, ask lots of questions and carefully review all the information provided. Make sure the seller is upfront about any potential issues.

2. Mistake: Not asking for help Buying a house for sale by the owner doesn’t mean you have to do it alone. Real Estate Corners has a home buyer service to represent you as the buyer and help with the purchase. The best thing is you can earn money in the process with their rebate options. Call (612) 483-1230 to learn how they can eliminate the guesswork from buying an FSBO home.