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Homes for Sale by Owner

When it comes to real estate, everybody is trying to get in.  Considering the fact that the real estate industry is currently experiencing a real estate bubble, real estate investment is big business.  Of course with this extra attention, real estate prices have steadily risen.  For the person who is looking for a great deal on a house for sale but also want to save a few bucks, then now is the time to look for homes for sale by owners.

Homes for sale by owner or FSBO (For Sale By Owner) simply refers to a property that is avaialbe but is being offered for sale without the use of a real estate agent.  This means that the homeowner is able to save some costs by not having to pay a commission to a real estate agent for selling their home.  In many instances, this means that potential home buyers are able to receive a bit of a break in the total cost of the house.

With the rise of real estate blogs and other Internet tools, for sale by owner homes are becoming more and more popular.  The home owner is able to advertise their home for sale without having to pay the listing fee that is incurred when advertising a home for sale on real estate listing services.

In many cases, homes for sale by owner provides a more intimate negotiation as the homeowner is able to directly negotiate with either the real estate agent representing a home buyer or the home buyer themselves.  While this can be a good thing if the negotiations are cordial, it also means that there is a possibility that the negotiations may become tougher.

As with regular home buying negotiations, it is important for the homebuyer to do their research.  One of the most common mistakes in buying a home for sale by owner is that the person who is buying the home neglects to take the proper steps in buying a home.  This includes hiring an independent home inspector to check the structure of the home.  Additionally FSBO negotiations have sometimes led to the buyer feeling rushed and then making a quick decision.  This is one of the most common causes of buyer’s remorse.

By being thoroughly prepared, you will be able to skip the mistakes made in FSBO and obtain a great deal.  However, you must remember that if you are using a real estate agent to help buy a home for sale that a sales commission must still be paid.  For the bold, it is possible to act as your own real estate agent when buying a home for sale by owner.  Still, FSBO homes can be a great deal and the right real estate investment for you!