Houses For Sale By Owner (real estate, loan, how much)

[SweetNick]

I'm a first time buyer and was wondering if there was a good site that would give me houses that are for sale by owners. Im looking in the boones creek/gray area. I would also like advice on what to look for when buying a house.

[mbmouse]

forsalebyowner.com comes to mind.
But to be honest with you, if you are not sure what to look for when buying a house, I would highly recommend you use a Realtor that works with you to explain the whole process. The fee for a Realtor comes from the seller so when you are buying it is basically a free service, why not use it?? Could save you a whole lot of heart ache and money in the end.
Just my 2 cents.

[rccrain]

The site mbm gave is probably the best.

You may also want to check out zillow.com & realtor.com .

If you go the fisbo route, you will find this site immensely valuable: Tennessee Property Data Home Page

Also you've picked out 2 fine areas, but are you also considering the Lake Ridge area? It is close to Boone Lake, a good Elem. School, and Winged Deer Park. Lots of stuff for sale. Just an idea.

[SweetNick]

Thanks for the good advice. Im going to do some more reasearching on my own, then if need to will contact a realtor

[allforcats]

Originally Posted by SweetNick

Thanks for the good advice. Im going to do some more reasearching on my own, then if need to will contact a realtor

Since you've never before done this activity which has massive legal consequences for you way into your future, and massive financial consequences for you way into your future -- the best thing you can do for yourself is work with a Realtor. I've bought and sold several places, and never stop being surprised at the things that come up each time. I have a high IQ, which is useless unless you study all the time for a long time, to know what problems CAN arise, so smarts aren't the answer -- LOTS of experience is.

If you don't know much about human biology, you don't know how to diagnose illnesses or figure out how to heal them. If you don't know anything about purchasing real estate, it's such a dangerous idea to choose to do it by yourself. It's not like buying a TV, or even a car. You need a real estate doctor, a Realtor. Realtors KNOW all the stuff you don't know.

I wish you wise choices!

[Mistybader]

I agree with allforcats. My husband has bought 4 houses but the one we just purchased was my first. We bought a brand new home that had been sitting on the market for a year 90% complete. The builder agreeded to our offer but felt like we were robbing him. We had many disagreements and our realtor fought for us tooth and nail. I don't think I would ever purchase a house with a realtor.

Moderator cut: cut

Good Luck,
Misty

[Tony1790]

I'll voice my opinion here, I've bought and sold dozens of properties FSBO.

1. Realtors are NOT free for the buyer, yes they charge the seller, but who pays the sell......the BUYER!!

2. Realtors are wholly unneeded, what do they really do, open a door, walk through the home, have you sign a form and whammo, they've got a paycheck. Unless the home doesn't close and then they're toast.

3. For those that say a realtor will help protect you, ha, ha. You'd be better off reading up on some of the TN specific laws and using an attorney, trust me, I wish that I had.

NOW, having said the above, I will tell the buyer in question....DO USE the realtor to make a purchase, especially if you are a new buyer or a new buyer to TN. No, it won't totally protect you, but it does actually help. AND most FSBO here are pricing their properties at the same price (or higher) than competing properties that are using a realtor, so in essence the realtor's service is FREE

How's that for a backhanded recommendation

Good luck with your home search, I've seen lots of properties priced really high, with some homes I've been following going down in price, but many prices appear to be on the upswing (haven't figured that one out yet, with all of the bad economic news being broadcast).

Tony

p.s. First step would be to get prequalified for a loan, with the financial meltdown taking place that's where I'd start. Good luck with the move to TN and the Home search.

[Beretta]

You might want to consider advertising on Craigslist for a FSBO. You can actually advertise for what you want in a home and rattle some homeowners that might not have otherwise considered selling.

[LivingLikeAGradStudent]

It's not so much that you do or don't need the help of a real estate agent. It sounds like you need the help of a financial planner. If you don't know much about buying a house, 1) Why would you?, and 2) Why would you turn to a person with a vested interest in the process? How steady is your job? How much money do you have for a down payment? How long do you anticipate staying? What is your tax situation? Until all those questions are answered, then rent.

[heathdawn]

My husband and I are both in the real estate business in FL. I do recommend you seek some sort of professional help, either a realtor, title company or attorney. We find it best looking for a FSBO by just driving the area we are interested in and calling the signs we see. Good luck.