FSBO- tips/guidance (real estate, brokers, how much)

[nitin_shams]

Saw a house that has all features we need- good neighborhood, yard, updated and good schools. There is some work needed but can be done over a period of time. The only flip side is being next to tracks but wasn't that loud(2 trains passed). The house is listed by owner at 750k and zest image is 633k. Can some one clarify if we can buy thru the owners directly(we are working with an agent right now)? If we were to work with agent will she be seeking commission from buyer?

How to proceed with sellers further? Do we need to put an offer like in normal case?

Nitin

[manderly6]

The fact that you don't know these things probably points to the fact that you shouldn't do this on your own and should really use a realtor.

Certainly some FSBO will compensate for a buyer's agent, some won't. Personally I would have my agent contact them and find out.

[jerseyjersey]

Originally Posted by nitin_shams

Saw a house that has all features we need- good neighborhood, yard, updated and good schools. There is some work needed but can be done over a period of time. The only flip side is being next to tracks but wasn't that loud(2 trains passed). The house is listed by owner at 750k and zest image is 633k. Can some one clarify if we can buy thru the owners directly(we are working with an agent right now)? If we were to work with agent will she be seeking commission from buyer?

How to proceed with sellers further? Do we need to put an offer like in normal case?

Nitin

I would first try to find out whether the sellers are willing to work with buyer's brokers at all--has this been mentioned in any of the ads/literature for the house, or otherwise? Once you involve your agent in the transaction at all, she will likely expect to be compensated.

FWIW, I would certainly not make an offer based on a zestimate--you need to find some comps and go from there.

If you decide to go without a realtor, definitely find a good real estate lawyer to do the contract negotiation, deal with all the inspection issues, etc.

[MrsPiggleWiggle]

You say the house is next to train tracks but isn't that loud TO YOU. A realtor will be able to better tell you the hit to resale value later on. This may be why the house is FSBO, the seller didn't like what his realtors were suggesting as the listing price. For example, we saw a house we loved but it backed onto the parkway (2 acre land though with lots of trees so TO US, the noise wasn't terrible) listed for $650K. Asked my realtor how much that exact house will be anywhere else in the town at least 0.5, preferably 1+ mile away from parkway, was told at least 800-850K easy.