| Houses for sale by owner, also known as | | | | open to your offer. When they have a good |
| "FSBOs," are a unique case in real estate | | | | idea, tell them so. It is not unethical to |
| investment. Buying from an uninformed seller | | | | make people feel good about themselves when |
| who thought he knew enough to handle | | | | negotiating.4. They usually don't have a plan |
| everything by himself can be frustrating. It | | | | for where to close, where to buy a title |
| can also be very profitable if you are | | | | policy, where to keep a good faith deposit, |
| prepared.Why do people try to sell a house on | | | | etc. Be ready with simple solutions to all |
| their own? Only one primary reason comes to | | | | these problems. Walk them through the process |
| mind: To save the sales commission. Of course | | | | while letting them feel in control, and |
| they usually underestimate the cost and | | | | you'll both be happier.5. They have often |
| complexity of going it alone. They end up | | | | spent more than they anticipated. Advertising |
| frustrated and tired of the process, ready to | | | | and other costs have already eaten into their |
| drop the price and be done with it. Help them | | | | imagined extra FSBO profit. Be generous in |
| solve their problems, and your reward can be | | | | negotiating any pre-close expenses - as long |
| a good price on a good investment. Keep the | | | | as you get your price and/or terms.6. Pass |
| following in mind:1. An owner isn't an agent. | | | | over problems and return to them later. Once |
| Don't ask possibly offensive questions. Don't | | | | a seller has invested more time in a |
| make negative comments about the house. | | | | negotiation, he'll be more inclined to give |
| Whether you like it or not, the truth is that | | | | you what you want.Professionals will tell you |
| it's difficult to get a good deal if the | | | | that most houses "for sale by owner" net less |
| seller doesn't like you.2. Houses for sale by | | | | than those sold by an agent. It's too late |
| owner have often been on the market a long | | | | for the seller to recover his money and time |
| time. The seller is usually tired of the | | | | spent, however, so he usually just wants to |
| process, and wants it to be done. In other | | | | get the thing sold as easily and quickly as |
| words, you'll get a better price if you are | | | | possible. Help him with that, and you can get |
| willing to close quickly and easily.3. FSBO | | | | a good real estate investment at a good |
| sellers usually think they're being smart. | | | | price. |
| Encourage that belief and they'll be more | | | | |