I am Buying a FSBO – I Don’t Need a Real Estate Agent!

With so many houses on the market that are For Sale by Owner (FSBO), finding yourself in the position of purchasing a FSBO is likely. Many people feel that, if they are buying a FSBO property, that having a real estate Agent is unnecessary.  However, there are many reasons for having an Agent representing you, even when you are making an offer on a property that is listed by the homeowner.

Paperwork – When you decide to make an offer, and subsequently purchase a house, you will find there is a lot of paperwork. Though you can typically find much of the necessary paperwork online, having a trusted agent can help ensure you are using all the correct paperwork and using the right verbiage to make sure that the terms and conditions that you the buyer is making are represented in written verbiage through the purchase and sale agreement.  Seller has the right to accept, reject, or counter buyers offer.  No matter what seller does buyers agent will be able to help the buyer in their decision whether to accept sellers counter offer, reject sellers counter offer, or prepare a buyers counter offer for seller to consider. This is when the negotiation skills of a great realtor are priceless.

Time – An enormous benefit to having an Agent working for you is the time saving value. Unless you just have a lot of free time, having an Agent spend the time working on paperwork, dealing with questions, and setting up appointments can save you a lot of time.

Protection – Probably the greatest benefit to having a real estate agent represent you is the protection he or she can provide. Buyers agent job is to look out for you and see that your have all the right paperwork and correct written verbiage included in your purchase and sale agreement.  With purchase and sale agreements written by Real Estate buyers agent it is understood who pays for what, at what time, to close on or before a date included in contract, conditions if any, who is the closing escrow officer and Title Company, name address, email address, phone numbers of buyers agent and brokerage. 

CMA of Comparable Properties - Buyers Agents will also do comparative market analysis of the property to see how other sold properties in the same subdivision or comparable sold in the immediate area to make sure buyer knows the sold prices of similar properties.  A great buyers agent will be calling the listing agent of sold comparable properties to get the true and correct information regarding sale... such as did the seller pay the buyers closing costs, or home inspection or buy down the buyers interest rate and how was the home inspection report handled by seller.  Did seller make repairs to the home if necessary.

Earnest Money - For instance in Idaho, Real Estate Agents will turn in earnest money with buyer signed purchase and sale agreement to be logged in Real Estate Brokers trust account or agents can have the Title Company which both parties have agreed to handle the earnest money. Earnest money will be deposited according to written instructions on purchase and sale agreement.

A great Real Estate Agent will help you navigate the sometimes-confusing paperwork. 

It may seem unnecessary to have a real estate agent when making a purchase of a For Sale by Owner (FSBO) home. However, you can quickly see that there are many benefits to having a real estate agent help you through the process of making an offer on a FSBO and, hopefully, making a purchase of the property in which you are interested.

Homes for sell to view in Boise, Idaho furnished by IDX/IMLS from $120,000 to $145,000.  These listings below are current and active no matter which date you click on them.  These listings are updated early each morning Monday through Friday of each week.