buying a house thats for sale by owner... questions

[kammi10]

anyone ever bought a house that was for sale by owner instead of through a realtor. ive been looking at houses for quite some time and there just is not much out there.

fast forward to today, driving home found what looks like a pretty nice house, with a for sale sign out front. which brings me to the question of has anyone done it? any tips and pointers on what to look for or watch out for? obviously im looking at just not using a realtor on my end for it and that way there is no commission to account for out of the price.

thanks in advance

 

[4Gas$]

All of my house / real estate purchases have been
“for sale by owner” – both purchases & selling.

Yes you can save a sizeable amount of money.
Find a good real estate Attorney (one that specializes
in real estate) to review your purchase contract.

I’ve even provided the sales contract on properties
I purchased – the seller normally does this. But that
is the beauty of these kind of deals, you can possibly
“take control” of the sales process.

If you’d like to talk more about this, you can always
PM your phone number. I’m not an expert, but I am
someone who has done this successfully several times.

 

[kammi10]

i will deff shoot you a pm. i want to make sure the for sale sign is in fact meant for the house. and not something that was sitting in the yard for sale. going to call the number tomorrow and ask and get some more details

thanks!

 

[camaromann]

I sold my house myself without even putting a sign out front or listing it. It sold via word of mouth. Easy as can be. I sold to someone I worked with and was pretty involved the whole time.

 

[Krazybones]

I sold my house myself without even putting a sign out front or listing it. It sold via word of mouth. Easy as can be. I sold to someone I worked with and was pretty involved the whole time.

I may have this situation also... I have 2 parties VERY interested in my house and it is not even listed yet. I bought a house using a Realtor just this month, but how does that work if I have yet to list my house and "I MIGHT" already have a buyer... will I be bound to pay commission fees to that Realtor if I found the buyer myself?

 

[13SECSS]

i will deff shoot you a pm. i want to make sure the for sale sign is in fact meant for the house. and not something that was sitting in the yard for sale. going to call the number tomorrow and ask and get some more details

thanks!

Shawn, call me with any questions. I've bought a few " for sale by owners" I'll help you out anyway I can.

 

[Billydroveit]

My first house was purchased from For Sale By Owner. I paid a real estate attorney, in '98, $650.00 and he handled all my paperwork from the bid, purchase agreement, to closing. Smooth, easy, and saved alot of money.

Good Luck.

 

[camaromann]

I may have this situation also... I have 2 parties VERY interested in my house and it is not even listed yet. I bought a house using a Realtor just this month, but how does that work if I have yet to list my house and "I MIGHT" already have a buyer... will I be bound to pay commission fees to that Realtor if I found the buyer myself?

That I'm not sure of. I also bought my next house from a private party, without it ever being listed for sale either. Very smooth transition. You just have to do all your own "leg work".