Buying a house from a fsbo

For sale by Owner means the seller is not using a real estate agent. For a buyer of that property it means you are going to have to be in charge of the transaction. This video covers the things you will need to know.

[@robertocampanaflores9067]

I like your introduction

[@eden_aumakua]

You can always hire a real estate attorney to help. That's what we did.

[@tomaitoe]

What an incredibly detailed video, thank you! This was so helpful.

[@FinelyRevealed]

Oh Great, so happy it helped Tomaitoe!

[@linayang9022]

Just need to find professional attorney to do all the paper work done well and then buyer and seller both win!

[@jimmyfavereau]

Thank You ❤❤❤

[@traveltalkwithlindy6651]

Thank you! This really helped, where are you located?

[@Kathrynlove]

Oh my gosh. I was going to write a offer on a fsbo today and I am really overwhelmed...I think I'll just go Sleep instead.

[@FinelyRevealed]

Hi @Kathryn = don't stress over it! Hope you get a great place!

[@raiders5715]

I have 2 question I'm a first-time buyer how much should I put down payment Can a person with SSI buy a house

[@bottomlineoutdoors6187]

Does that mean that the financing is done thru the owner or does it still go thru the bank or va in my case

[@FinelyRevealed]

Hi @Outdoors- Good question- it can be confusing! The method of financing is up to the buyer - cash or loan (from bank or private) - FSBO means that the seller is not using a real estate agent or broker. Owner finance means that the seller will accept payments over time. Another option is contract for deed- we have a video on that - hope that helps.

[@michaelnicetta4629]

What if I gave a deposit 5 years ago and am trying to put a contract together for purchase now

[@FinelyRevealed]

Hi @Michael - include a reference to the deposit that was already made to be sure you get credit for it.

[@taine-faumuifio3341]

Hi, Is it legit if the buyer does not want to hire an attorney, but instead notarized the documents. Is this legal?

[@FinelyRevealed]

HI Taine-Faumui. Not sure of the question but will give it a stab. In some states a closing must be handled by an attorney to exchange the funds and deed etc. Other places we rely upon title companies to record the documents. Deeds have to be notarized before being filed. If you are the seller then you should have counsel to prepare or review your contract before signing. You are responsible for you- the other side can hire someone to look out for their interests or 'wing it'.

[@3flgator]

What if my appraisal came in at 377k and the contract price was 380k with Contingency to Appraisal and the inspection repair estimates were $3,230. When I told the seller she replied with $378,500 and I countered with $375,500. She said she would review it. None of us have an agent involved. Isn't this still a great offer for the seller given that there aren't any agents involved?

[@FinelyRevealed]

Hi @Javier it looks like a fair offer- whether she will take it you just have to wait and see.

[@3flgator]

@@FinelyRevealed I always thought it was. Thank you so much for your feedback. She is going to call me at 4:30pm. Let see what she comes with.

[@3flgator]

@@FinelyRevealed You were right my friend. We settled for the $375,500. Thank you for everything.

[@1977raider]

Sounds like a lot of stuff and hoops to jump through

[@chrisginoc]

First time homeowner looking to buy a for sale by owner. Good idea?

[@FinelyRevealed]

Hi @Chris It's a fine idea so long as you are up to educating yourself - check out the videos on our Property playlist for additional information - also thanks for the question- looks like there are additional vids we need to do. Let us know how it goes!

[@DA-jp3uq]

@@FinelyRevealed Yes please! Would be really useful for a first time buyer looking for a FSBO property. Thanks!

[@dougdileo4727]

no one needs an agent either way, just get a real estate attorney that does everything anyway.....if you use an agent you shouldn't ever pay more than 1-1 1/2 %...some area want 6%...ridiculous.....sorry

[@FinelyRevealed]

HI @Doug - these days depending on the property you are quite right. And the agent does not substitute for the attorney as my clients know.

[@dougdileo4727]

@@FinelyRevealed and exactly why you do not need an agent...

[@that1electrician]

I thought I was gonna be a great lawyer for my DUI case because I had about 3000 hours logged watching Law and Crime network and decided to represent myself. Things didn't turn out as I expected- 20 grand later I realized my mistake, instead of putting 4k up front for a lawyer that has been doing lawyery stuff for 30 years..

[@Geoffrey79]

I really wanted to watch this but, the jumpy editing in the first few minutes was nerve racking.

[@FinelyRevealed]

Thanks for reporting this- it is a youtube thing we've been trying to correct. May just have to reload.