Q: I saw a home in the newspaper being sold by a private seller. I would like to know all of the pro and cons of buying from a private seller.
A: What you call a private seller is what real estate folk would call a home “for sale by owner,” or FSBO. It’s very common for homeowners considering having a go at selling their homes sans agent to write in and ask me about the pros and cons of selling FSBO. It’s much less common for a buyer to ask about the advisability of buying from an unrepresented seller, so your question presents a fabulous opportunity to clear some things up!
Generally, there is only one reason sellers list and try to sell their homes without using an agent: to save money on commissions.
Some sellers are experienced in real estate matters and just don’t think they need an agent’s help enough to warrant the cost of the commissions; others owe so much on their homes that they believe they cannot afford the commissions. Still others just don’t understand enough of what an agent does to understand why they should pay for these services.
It is in my experience that people who try to sell their home without understanding the psychology of buyers, investors, contracts and disclosures can get into a lot of trouble. In my opinion having an agent helps get you the most for our money and it is in their interest to do so since they are on commission. They work with buyers and sellers all the time and network with other agents that could have your home pending in no time. more questions about FSBO’s contact us today 206-334-8773
Posted via Seattle Real Estate-Seattle Homes For Sale
Leave A Reply With Facebook