Buying For Sale by Owner
One of the most tempting things for people in the home buying process is to call the number on a For Sale By Owner (FSBO) sign.
But there are several ways this can work against you, mostly in the form of giving away information that would make your agent cringe.
When talking with a FSBO, they have no legal obligation to you, no requirement to keep your information confidential and no incentive to protect your interests. While it may seem like a great deal to negotiate directly with a home seller, keep in mind that your REALTOR® does this for a living and more than likely can provide you with all of the information needed to get an even better deal. FSBOs often don’t have all of the information about recent sales. That, combined with immense pride in their home, is a recipe for a buyer overpaying for a property.
(Note: before everyone comes out of the woodwork with the story of their brother-in-law who got a screaming discount on a FSBO, remember I said LIKELY, not always. Nothing is 100% but death and taxes)
Anyway, the point is that your agent is charged with protecting your interests. So when you see that For Sale by Owner sign, jot down the number and give it to the person you’ve trusted to help you not just find a home, but successfully purchase it as well.
