When reading the post below, “negotiations by a buyer with a FSBO owner are normally difficult”, just be aware that FSBOs also fall out of escrow much more often than transactions where there is at least one real estate agent involved.
In fact, some (most?) title companies charge more for FSBO transactions because they are less likely to close.
You, Mr. Buyer, should also calculate what that risk means to you.
What’s the cost to you if it doesn’t close? If you have already sold your home, will you have to rent short-term and move twice, or will you have to buy quickly and pay near full price? Will your kids have to change schools later in the school year than you wanted?
Will the time invested and lost in buying a FSBO affect your job performance or family life? What’s the cost to you of that?
What’s the cost to you of working with an know-it-all, FSBO seller for weeks and then having the transaction fall apart?
What great homes have you lost while working with an unsophisticated seller?
Although, most FSBO sellers are not difficult, know-it-alls, be aware that when you buy a FSBO the odds are significantly higher that the transaction won’t close at all and all of your time and effort will be lost.
uninformed about the value of the property
Also notice the Chris Combs says, FSBO’s are “uninformed about the value of the property.” In English that means, FSBOs want too much money for their homes.
You may think you are saving money but that’s not necessarily true. If you haven’t been subscribing to Home Sale News for months or otherwise know the real estate market very well, you could very well be paying too much.