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Video instructions and help with filling out and completing Contract for buying a house from owner
Instructions and Help about Contract for buying a house from owner
Thank you for tuning in and welcome back to real estate advice in today's episode you'll learn five tips about for sale by owners so this is gonna be really important for you to know because does it complicate the process does it make the process easier are you gonna get a higher price if your person but looking to sell your home yourself or you're gonna get a lower price if you're a buyer in the market looking to buy one my name is Andrew Finney please consider me your real estate geek I am always here to help my contact information is in the show more description below and on the back side of each and every video so let's go ahead and get into it what is a for sale by owner a for sale by owner is simply a person that is decided that they want to sell their home without professional real estate advice and representation there can be pros and cons of this so the next five tips are things that you want to keep in mind whether you're that buyer or whether you're that person considering a for sale by owner so number one is most for sale by owners will actually compensate your buyer broker agent so if you're a buyer in the market and you see maybe you want zeal or your own realtor you're on red fin your for sale by owners site or something and you see a home that's not in the Multiple Listing Service on that custom search district real estate agents set up for you then just ask your real estate agent to give that for Sale By Owner call if you have that person's information share it with your agent your agent will make that call set up a time to see that property and check it out and see if it's going to be right for you so that brings us to a point to the second tip is not to think of a for sub loan or home differently because sometimes for Sale By Owner just might be putting it on the market themselves because their margin to sell is so low and whenever I say that let's say the home is on the market for $200,000 but the seller owes like one hundred and ninety thousand dollars on it so you see that's pretty tight if they're going to be spending anywhere between five and eight percent on five to eight percent if it cost them to sell that home then they're gonna have an issue with having to come to the closing table with money it's only a fictitious example but it illustrates the point that sometimes a for sale by owner is just in between a rock and a hard place and that's one of the reasons they're doing it and if that's your case it's absolutely okay we completely understand that and just here to try to figure.