FSBO Buying Question(s) | TigerDroppings.com

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TigerDik86
LSU Fan
Baton Rouge
Member since Oct 2011
2821 posts

FSBO Buying Question(s)


So I have a question on Buying my first home. We've looked at buying with a Realtor and have been through a few so far.

Question: What is the entire process of buying a FSBO and whats the difference from this to Realtor?

TIA







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LSU1018
LSU Fan
Baton Rouge
Member since Feb 2007
5162 posts

re: FSBO Buying Question(s)


I suggest getting a realtor but tell them that if you find a FSBO that you like, you won't use them. If the person you are buying from is selling with a realtor, no use in you not having one to represent your best interests. You may get a lower price not having one when buying a FSBO





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MikeBRLA
LSU Fan
Baton Rouge
Member since Jun 2005
9241 posts

re: FSBO Buying Question(s)


The only difference at closing is that the realtors will be there to get their 6%. And yes that is indirectly your money they are getting since you are the only one paying at closing. Everyone else is receiving.





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jguidroz
LSU Fan
South Louisiana
Member since Sep 2006
1589 posts

re: FSBO Buying Question(s)


You basically have to handle everything yourself in the process, which honestly isn't that much.

When buying through a realtor, you will typically view a house, and if you want to make an offer, make it through a purchase agreement. The sellers will then agree, decline, or make a counter offer. So on and so on until either a purchase agreement is signed or you get tired of the process.

When you buy from a FSBO, you will typically make an offer, or discuss a price, then work on a purchase agreement. The agreement can be as simple as a single piece of paper stating what is being sold, for how much, and signed by both parties, or you can go the route of the available state forms from Louisiana (if buying in Louisiana).

Once you have a purchase agreement, go get your financing.






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tiger91
LSU Fan
South of Lafayette
Member since Nov 2005
13119 posts

re: FSBO Buying Question(s)


And no matter whcih way you go get a home inspection. Don't buy without one!





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TigerDik86
LSU Fan
Baton Rouge
Member since Oct 2011
2821 posts

re: FSBO Buying Question(s)


Yes Buying in Louisiana and This seems simple enough.

Thank you for all the advice!






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lsubandmom
LSU Fan
Lafayette
Member since Oct 2007
820 posts

re: FSBO Buying Question(s)


I sell real estate and have no problem with someone buying a FSBO, but make sure your contract protects you completely. Go the web site for the Louisiana Real Estate Commission and get a copy of our Purchase Agreement to see what is included. Your contract should make sure things are done in a timely manner, make it subject to an appraisal, ensure your right to an inspection, etc. Also, pull a copy of the Property Condition Disclosure Statement and make sure the seller fills it out completely for you.

Best of luck!






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