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