Buying a FSBO
Can I Buy a FSBO and Still Use an Agent?
Let's start from the beginning: FSBO stands for "For sale by owner" and anyone can buy a FSBO regardless if they are already working with a buyers agent or not.
Tips for buying a FSBO when you find one.
Why did you look for one? Did you happen across one? Is a friend selling? The most obvious reason typically is to save money. But using a buyers agent cost the buyer nothing and buyers agents can usually negotiate with the seller on your behalf regardless.
Most of the time you or your agent will be dealing with a homeowner who is most reason they don't want to pay an agent. Typically the price determined by the homeowner is usually unrealistically high based on subjective factors that have no market value to the new buyer. A good question to ask is how the seller came to the price they have.
Its a good idea to have a plan and a check list on the questions to ask the direction you want to go. Having a buyers agent plan and do all this for you really sets a buyer at ease. Many sellers will be unprepared and can be stubborn regarding a price reduction or allowing you to bring in your buyers agent.
One major key is learning if the homeowner has to sell or not. Many people buying a FSBO get caught up in the homeowner's price fishing expedition game. That is frustrating and a waste of your time.
Homeowners may not have filled out an accurate sellers disclosure form or even one at all. Ask for the age of the roof, as an example, and if a recent repair or replacement, ask for the invoice to determine proof or the extent of the fix. Make sure you use a professional inspector and not one the seller has recommended. You will want to be sure of any issues or potential problems before signing the deed.
If you don't use a buyers agent there is much legal documentation language that may be confusing. It's vital you understand the details of a Yuma real estate transaction. Do not be mislead in thinking that there are no complexities of title, escrow, home warranty, disclosures, etc.
For more information on buying Yuma homes or any real estate in Yuma area, please feel free to contact us anytime.
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