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Considering an offer on a FSBO house?
Hi all - I've never posted here before but am looking for some advice. We are currently in the market for our second home. We are renting our first home out after 6.5 months on the market and no movement.
We are already pre-approved. We've been working with our selling realtor to look at purchasing a new house.
We have "fallen" for a FSBO house and are considering putting in an offer; but are not sure enough in the process at all to know what to do in this case. Can anyone on here sort of lay out the bare bones process for me?
Also, is it totally off base if we ask the sellers of this house if they are open to a buyer's agent at a certain percentage?
TIA. This will be a bit of a post and run as I'm heading to work, but I"ll check back.
Re: Considering an offer on a FSBO house?
We are under contract on a FSBO house, but we came about finding it a bit differently. We knew the lady was going to list, and we got to her before she had a chance. So our offer was based on what she told us she wanted to list it as, minus what the realtor commissions would have been, and what we thought was a fair priced based on the market with those considerations taken into account. We did not have a buyers agent so we are just using a lawyer doing the contracts for us. Did an agent show you the house? I would not hesitate to ask if the seller is willing to pay the buyers agent commission. I think that is a pretty standard question to ask.
Good luck!
If I were the seller of a FSBO home I would tell you that any agent fees would be paid by YOU. Thats why people try to sell a house themselves....to save the fees.
I sold my first home myself and it was the best thing I ever did. The buy and I agreed on a price and after that our respective attorneys handled it.
When we had our house up FSBO, we had it listed on the MLS and stated upfront that we would pay something like 2.7% to a buyers agent. We listed it FSBO to avoid the other 2-3% that would have gone to our agent if we had one. So, who knows, they may already be offering a percentage to buyer's agents. I'd ask. If anything, they may be willing to split the cost with you.
With our first house, it was FSBO with no commissions offered. It was listed at a fair price, so we offered 1.5% over asking price plus asked them to pay 3% to our agent. So, in essence, we offered them 1.5% less than asking and split the realtor fees.
Not always. I did FSBO and was perfectly okay paying the agent that brought me a buyer 3%. 3% is better than 6%.