There seem to be an abundance of FSBO’s these days. They present their very own challenges for buyers and for sellers. Sounds like a good idea for the sellers, they think they will save the commission and therefore net more money at the closing table. After all, they think”how hard can it be”? Well there’s a reason that Realtors have to be trained and licensed. It’s not as easy as it would seem. With the contract and all the legalities involved these days and quite frankly the fact the people cannot be taken at their word as in days gone by it is well worth the money to use a licensed professional.

But if you are going to do it on your own I would suggest a good Real Estate Attorney to go over your contracts and make sure all the I’s are dotted and the T’s crossed. Considering the litigious society we live in this is very important. For both the buyer and seller involved in a FSBO an attorney is recommended to make sure all bases are covered. It’s great when everyone you are working with is an honest person but how do you know? Not to mention the many legal issues that can come up. This is far to important a purchase or sale to take chances.

Many times in a FSBO situation the seller thinks they are going to save the Realtor fee but the buyer thinks that since the seller isn’t paying a Realtor fee they can go way down on their asking price.  Making negotiation is very difficult. Also, sorry to say but very many people who look at FSBO’s think they can pressure the seller into carrying the note for the property because for whatever reason they are not able to get a loan.

I know this sounds negative but it can be done. If you chose to do it on your own, whether you are buyer or seller please get proper representation and search out all the information you can. So that the transaction goes smoothly and everyone is happy with the outcome.