June 2008 Weddings
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House Q

I posted this on Buying a Home, but wanted to ask here too.

 We finally found a house we really like, well within our price range.  Of course, it's a For Sale By Owner.  Seeing as I got my real estate license (never used it-had to have it when I was an assistant to an agent in college so I could show properties) and our realtor is a good friend (and actually found us the house)... we now have to figure out how to proceed.  The seller doesn't want agents involved.

 Anyone else bought a FSBO?  Tips?

 I'll post pics soon!

image image

Re: House Q

  • I honestly don't know if I would want to proceed. The sellers can't tell you that you aren't allowed to have an agent. If they don't want one to represent their house, that's their problem, but you have the right to have an agent represent you.
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  • We are definitely still going to put our realtor to work-to write up the offer, go over the contract, handle the attorney stuff, etc.  We will just have to pay him out of pocket rather than as part of the selling price.  Otherwise we would just hire an attorney to represent us, but I'd rather use our friend, who is extremely savvy and successful.  The seller just doesn't want to accomodate a REA commission into the sale,which, I guess, is his perogative.  We would still do an inspection, etc.  It's just a strange situation... sorry if I wasn't clear! 
    image image
  • We bought our last house without using a real estate agent.  The sellers had an agent though.

    Really - so long as you have the standard real estate contract for your area and hire a reputable company to do the closing, there's no reason to avoid this property just because it is a FSBO. 

    I would, however, point out in your negotiations re price that because seller doesn't have to pay an agent you expect the price to be discounted appropriately (or maybe it already is).

    If your realtor found the house for you though, he or she may be entitled to a commission regardless of what the seller wants.  I would ask my realtor what the policy is.  You don't want to go through with the deal and then have to pay your realtor the 3% commission out of your own pocket.

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