Mortgage Qualification Rule Changes!
- Written by Dena Arnold
What If I Buy Privately? Do I Even Need An Agent?
- Written by Lindsey Smith
We always encourage our clients to keep their eyes open for opportunities. We can’t be everywhere at once, so if you see a house that is being sold privately, it may be an option.
If you call the number, view the home or visit an open house, no big deal. But, if you are seriously considering the home, then we highly suggest you get a Realtor®. Selling a home, For-Sale-By-Owner (FSBO) is becoming more and more popular since the availability of wide spread marketing on the Internet. A seller who typically wants to save money by eliminating the “middle man”, or simply believes they can just sell it on their own, puts up a sign or takes out an ad to offer his home for sale. It is very simple. . . . until you find a buyer.
There is a very big difference between FSBO listings and Realtor® listings. FSBOs are typically extremely amateur, usually don’t understand the entire sale process thoroughly, or their disclosure obligations under common law. They usually have generic contracts (sometimes horribly outdated from their lawyer’s archives), the information used to market the home has not been professionally verified, and they are not bound by any regulatory body. To top it all off … they have already declined the advice & representation of a professional.
Please don’t misunderstand this information. FSBOs are very realistic options for purchasing a home, but a Realtor® will be able to dramatically protect your interests. Here are a few critical items a Realtor® will cover for you: