As real estate agents, we know a thing or two about FSBO homes. Though the process of buying one may be different than if the seller had an agent, they are still worth considering. Before you pass over that dream home because the seller is doing all the work themselves, understand these biggest misconceptions about FSBO homes:
1. The seller obviously isn’t serious.
Whether you are considering a home being sold by someone with an agent or without one, you may come across properties the owner really doesn’t want to sell. However, just like with the majority of homes, those who put FSBO signs out front really do want to sell their homes. They may be foregoing the agent for any number of reasons.
2. The seller has something to hide.
All home sales are governed by the same set of laws. Sellers must disclose any material facts (a.k.a. Anything that may affect the purchasing decision), such as flaws in the construction. There are any number of other disclosures that must also be given before purchase. Though a real estate agent usually handles that, a FSBO seller will also do so — or face legal ramifications.
3. The seller has no room to haggle.
There is a common misconception that the only reason sellers wouldn’t have an agent is because they can’t afford it. And if they can’t afford an agent, they obviously have no wiggle room on price. However, studies have shown that FSBO sellers actually get less for their homes than sellers with agents. FSBO sellers likely don’t have the experience needed to really haggle well for the price they want for their homes.
For Sale By Owner homes can be a wonderful investment if you are looking for a new property, and having an experienced real estate agent by your side can help you get the right price. Contact the Dottie & Kate team today to see some of the beautiful homes for sale in Atlanta and the surrounding area!