At Foreclosure.com, we’re all about connecting investors with the hottest real estate bargains on the market.
And even though our bread and butter involves distressed real estate such as foreclosures, there are other lucrative options on the market such as For Sale by Owner (FSBO) homes that we feature on our Web site.
FSBOs are great because the homeowner already feels that he or she is saving money off the net profit because an agent or broker is not involved. Therefore, it’s often possible to factor that in to the negotiating process.
There are other subtle advantages, too, which come along with buying FSBOs that can really make a financial difference if the right situation emerges.
Consider this from a recent article in the Orlando Sentinel:
“Real estate agents will not show a FSBO because they are afraid of not getting paid and of losing the buyer who might want to do the deal without them.”
Indeed, sellers often face a uphill battles when it comes to unloading their own homes — especially if it is new to them.
Case in point: A FSBO seller is at the mercy of everyone who calls or knocks on the door. There is often no way to “qualify” buyers prior to negotiation when it comes to FSBOs, which means the sellers can waste tons of time on deals that will never come to fruition.
In addition, buyers sometimes shy away from FSBO homes because of fear legal problems and intricate paperwork will be too hard to resolve without the help of an experienced professional.
We tend to agree on the last point.
If interested in a FSBO home, it is highly recommended that a lawyer or some other experienced individual is involved in the process to ensure that the deal is done right.
Short of that, the possibilities are endless when it comes to purchasing a FSBO. With patience and the proper negotiating skills, it’s possible to land a really beautiful home for less than current market value.
Remember: Leverage the information we briefly mentioned above to secure the deal that is right for you …. this is your time to shine.
To search for FSBO homes in your area right now click here. There are also some other great deals at ForSaleOwnerHomes.com.
Actually, sellers DO have a way to qualify potential buyers: They can simply ask a letter of pre-approval from the buyer’s lender. If I were an FSBO seller I would definitely want to know whether I was dealing with an able buyer. If a buyer weren’t interested in showing me some type of proof then I wouldn’t waste my time.