Buying A Home
~Lily~
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Anyone buy FSBO?
What was the process you went through? Such as, did you get a real estate lawer, inspection, etc? Anything you would have done differently? Just looking for any kind of advice.
Re: Anyone buy FSBO?
You should always, always have an inspection done no matter how you buy your home.
You pay for it out of your pocket and then you can attend it too.
Most FSBO sites include the paperwork for the transactions online. You can always have an attorney look over the documents - but make sure they specialize in real estate.
It doesn't hurt to check to see if the FSBO will accept offers from Buyers Agents. This way you could have an agent facilitate the transaction for you - the seller pays the commission not you. Though, if the seller isn't willing to deal with an agent, you may end up paying their commission.
If you are working with a REA now and have signed a buyer's agreement see if that agent will let you out of the contract if you want to buy a FSBO with no agent. My DH got screwed (only for lack of not knowing) when he had signed a buyers agreement and then found a FSBO on his own. The agent demanded payment and it came from my DH and not the seller.
As an REA, anytime anyone wants out of their buyer's agreement, we let them. It's much better for business
I ALWAYS recommend an inspection. Even if the home is a foreclosure - as is - and the "seller" (aka bank) won't do any repairs. It's best for piece of mind to be alert of issues you may want fixed.