quote:
When your selling, also go ahead, you think you save anything by going FSBO? Every single buyer just takes 10-15k off your price, knowing you have no realtor

In any decent market they wont be getting the house.

quote:
Just more work for yourself, less money, and a lot more legal risk.

More money and bank and title attorney mitigate legal risk.

quote:
Newsflash - when you want an item that costs $100, and you go the DIY route, spend 5 hours of your life and $90 to make a inferior product ---- you have lost.

Spending a few hours selling your own house and banking a additional %15K is called winning.

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Posted by fightin tigers

Downtown Prairieville

Member since Mar 2008

76123 posts

Posted on 8/3/18 at 4:32 pm to EA6B

We did FSBO first time around and sold in less than a month for full price.

Appraisal came back about 3k below agreed price. We lowered.

Deal closed in 60 days from initial listing. Closing atty handled all the things we messed up regarding paperwork.

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Posted by Quatre Pot

Member since Jan 2015

1759 posts

Posted on 8/3/18 at 6:17 pm to PortHudsonPlaya

When buying why would you?
They do all the work, you still set your price, and the seller pays the commission

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Posted by Tiger Prawn

Member since Dec 2016

25058 posts

Posted on 8/3/18 at 6:28 pm to TJG210

quote:
That’s not factually correct.....if you’re getting a mortgage through a bank they will not allow a transaction for over the appraised value. Also any side deal you try with the homeowner would be illegal as well. Only way to above appraised value is for the entire deal to be in cash.

Thats wrong. The amount above appraised value paid out of pocket by the buyer just doesn’t get counted towards minimum % needed for downpayment or if you were trying to put down 20% to avoid PMI.

ie. Buying the house for $210k but appraisal is $200k and sellers won’t budge. If you wanted to avoid PMI, you’d need 20% equity ($40k) but you would have to put $50k down to cover the difference above appraisal. Or for 3.5% FHA downpayment, you’d have to put down $17k instead of $7k

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Posted by joeleblanc

Member since Jan 2012

4114 posts

Posted on 8/3/18 at 7:01 pm to Boss

realtors definitely provide a valuable service.

??

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Posted by gingerkittie

Member since Aug 2013

2675 posts

Posted on 8/3/18 at 7:43 pm to fightin tigers

quote:
We did FSBO first time around and sold in less than a month for full price.
Appraisal came back about 3k below agreed price. We lowered.
Deal closed in 60 days from initial listing. Closing atty handled all the things we messed up regarding paperwork.

We just bought a FSBO and it was a perfect process for us. Our deal was completed in less than 2 weeks. We found the house, called the owners, wanted it and bought it.

I saw no reason or all of the agents, mortgage people and all that BS to be thrown into the bundle. The sellers were absolutely awesome.

Bottom line- we bought a fantastic home and paid less than $1000 for the entire process of sale, title transfer, title search, title insurance, etc at closing.

Didn't have to deal with the utter BS of all of the inspections and fees and paperwork and all of that.

I had just gone thru using a real estate agent to sell my other house and it was nightmare of endless streams of BS and challenges and paperwork. it took MONTHS for them to get that shite together (with all their "help") F*%$ that!

I also didnt want to be an a-hole buyer like the one who bought the house from us. I didn't haggle the price, ask for endless inspections and all that BS.

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Posted by flvelo12

Palm Harbor, Florida

Member since Jan 2012

3550 posts

Posted on 8/3/18 at 8:23 pm to foshizzle