2006 November | Gotta Sell Home Now Blog
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  • What should I know before offering to buy a 'for sale by owner' house?

    Posted by admin on November 28th, 2006 and filed under for sale by owner | 6 Comments »

    It would, yes, possibly be easier with an estate agent involved, but the place I like is just up for sale by the owner.

    Any tips/things to watch out for/etc?

    You definitely DO NOT need to hire an agent. A real estate attorney at your local Title Company can process all of the paperwork for a fraction of the cost. Your state requires certain documents to be filled out. Your title company has all of these forms for you.

    Make sure you get pre-qualified at your bank.
    Make sure you get a homeowner's inspection.
    Make sure you conduct your own appraisal and/or hire an appraiser.
    Make sure the contract/offer has "pending a satisfactory home inspection".
    Do not sign anything without having your attorney look at it.
    Make sure you get a Title Search.