If you’re in the market to buy a home, you’re probably looking through hundreds of REALTOR listings in your desired area. You’ve probably noticed a few listings that are for sale by owner (FSBO), too. So how do the two compare? Why should you consider buying a home sold by a REALTOR instead of one sold by the owner? Let’s take a look.
Potential advantages of buying a REALTOR sold home include:
- A REALTOR can pull the exact square footage and zoning details from the local municipality before listing the home, so you may know more about what you are buying.
- REALTORs can have disclosure forms and details of the home’s condition ready for you.
- REALTORs can negotiate on your behalf (where permitted) so the process is professional and can help avoid emotions. Having a skilled negotiator like a real estate agent in your corner may improve your chance of buying a home at the optimal price.
- REALTORs can provide you with details about the neighborhood, community, schools, local government and much more.
You should consider the following before buying an FSBO home:
- Owners are often attached to their homes and may not be interested in reducing the price.
- Owners are less likely to have the appropriate paperwork
- FSBO homes may be more expensive because owners base the price on their own interpreted value or what they paid instead of market value.
While homes are sold by REALTOR s as well as owners every day, purchasing a home through a REALTOR will help ensure that all legal and financial matters have been accurately represented, potentially saving you from potential headaches in the future.