Despite the vast resources on the internet, the need for a real estate agent is still significant. Most sellers know that the real estate process is complex and requires a professional. However, every now and then a homeowner will choose to give selling their home a shot and choose to put their home on the market as a FSBO (for sale by owner). In this case, it is beneficial for the buyer to understand how this scenario may differ from a home listed by a real estate agent. Get the scoop on understanding FSBO from Lockport IL Realtor Chris Budz.
Working with Your Agent
As a buyer, it is important to use a real estate agent. The buying process involves many critical steps and it will save you money in the long run. When a seller chooses not to use an agent, you’ll want to ensure that they will work with your agent. Your agent will also need to get paid. The best route to take in this case is to let your Realtor make the first contact with the seller of the home you are interested in. Most FSBO will cooperate as many buyers use real estate agents these days. For help finding your next home, contact Lockport IL real estate agent Chris Budz.
Every FSBO is different, however, there are some trends to look for. One common trend relates to the listing price. Homeowners hope to get the most out of their home and they often set the price too high. In this case, work through the buying process the same as if it were listed by an agent. Let your agent interact with the seller regarding the price. Get a home inspection. Allow the appraisal to do its work. Your real estate agent should be able to determine how flexible the seller will be. Experience as a real estate agent in Lockport IL has shown that if they aren’t willing to move on a realistic price, it might just be best to move on.
Keep With the Process
In any real estate transaction, there is a process that ensues. Sellers need to provide disclosure. The home should be inspected. Repairs need to be made, etc. Simply because the home is FSBO doesn’t mean that any of this should change. Homeowners selling on their own are at a disadvantage when they don’t know this process. Nonetheless, each step is important. Lean on your Realtor for help. To find your next home, contact Lockport IL REALTOR Chris Budz.