How Can ForSaleByOwner Help Me Find My Dream Home?
You’ve searched and searched to find the house of your dreams, the one that draws you in with every defining detail like it was destined to be yours. And then you find it, but it’s sporting a striking red and white sign with “For Sale By Owner” emblazoned on it.
To some, this statement can be off-putting. Others may be confused about what it means for their home-buying experience. ForSaleByOwner can help. Because understanding these words and their ability to help you is the first step to defusing your fear of the unknown and getting you into your fantasy home.
How to buy through FSBO?
FSBO refers to when owners sell their houses directly to the buyers without getting a real estate agent involved, eliminating the need for Realtor fees. Most of us don’t come from a background in real estate and aren’t accustomed to the process of buying and selling houses. To feel ready, ForSaleByOwner offers several resources to help you get started.
- Before diving in, take some time to define your dream house, considering cost, location and amenities. After you have an idea of what kind of a house you want, you can start searching for it on the ForSaleByOwner search page.
- Compare homes and get an idea of the cost of recently sold houses in your desired neighborhoods with a valuation report. Making an informed offer goes a long way toward eliminating needless back-and-forth with the seller.
- It’s also a good idea to obtain a Comprehensive Loss Underwriting Exchange (C.L.U.E) report, which reveals insurance claims sellers have made on a property within five years. A C.L.U.E report is essential in helping you predict and prepare for future problems that may arise.
- Go ahead and get a pre-approval letter from a mortgage company. Presenting a pre-approval letter to the seller makes a great first impression — like that you can afford to buy the house. It can definitely help make the process smoother.
- It’s not a bad idea to engage the services of a real estate attorney, who can review the offer and help you close the deal with a contract. Negotiating is an art, one that most attorneys have mastered, so lean on their expertise should the situation necessitate.
FSBO isn’t for everyone, but it’s an option to consider for people who desire the freedom to buy or sell their house on their own time. It introduces a certain intimacy to the business of real estate that’s refreshing and, in some case, invaluable. Because it involves only you and the seller, there’s a distinctly human element and a bond often forms between the two people who are most connected to this home.
Make the most of ForSaleByOwner’s resources and research to discover the dream house you’ve envisioned. It exists, and we can help you find — and buy — it.