Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-07-2013, 12:16 PM
 
4,676 posts, read 9,962,709 times
Reputation: 4908

Advertisements

In my market FSBO's are way over-priced............and consequently sit unsold until the sellers wake up!
Reply With Quote Quick reply to this message

 
Old 09-07-2013, 07:26 PM
 
3,826 posts, read 5,784,652 times
Reputation: 2397
We were able to negotiate seller's price by 15%, but we had a motivated seller.
Reply With Quote Quick reply to this message
 
Old 09-09-2013, 05:24 PM
 
7,672 posts, read 12,769,604 times
Reputation: 8030
Quote:
Originally Posted by NilaJones View Post
If your loan requires that the seller pay the broker, wouldn't you just add the broker fees to your offer? E.g. if you think the house is worth 200k, offer 207, and stipulate that they pay 3% to your broker.
That's what I was thinking. They are selling it FSBO to get out of paying a commission and might not want to pay it out of their pocket. Only danger you might run into if the appraisal doesn't match.
Reply With Quote Quick reply to this message
 
Old 09-12-2013, 11:01 AM
 
Location: Durham UK
2,028 posts, read 5,416,876 times
Reputation: 1150
I think a lot of people who list FSBO do it to save the 3% on the sellers agents fee. Most are probably prepared to pay the commission to a buyers agent- or at least some of it.
Reply With Quote Quick reply to this message
 
Old 10-21-2013, 06:51 PM
 
Location: Hendersonville, TN
362 posts, read 644,340 times
Reputation: 312
Why do so many say negative comments about FSBO?

I've sold and purchased homes this way and it was not difficult nor was any of the deals over priced. If anything, they were fair market value because we didn't have to pay an agent $20,000+ Or their percentage.

I feel when negative comments are made that you will have problems, you'll lose money, you won't get as much traffic, I mean really, where do you get those stats?

I really don't want to give away a nice chunk of change. I could always list with an agent if it doesn't work out.

I would go look at a home listed by owner as long as the price was reasonable to the comps in area, and the Photos and online representation were what I am looking for.

Anyone thinking of selling in today's market would be foolish to not try FSBO first. I can see not doing that first if you don't have the time or need to sell quick.

I would imagine real estate peeps will not like my comments. Now let's play nice and not take anything personal. It's all about business and the bottom $$$ for sellers, buyers, and agents alike.
Reply With Quote Quick reply to this message
 
Old 10-21-2013, 07:07 PM
 
Location: Florida -
10,213 posts, read 14,789,658 times
Reputation: 21845
Real Estate Sales Commissions are always paid by the seller. If you choose to engage the services of a 'Buyer's Agent', you may be committing yourself to an agent fee, but, otherwise not. If you are only looking at FSBO's because the VA will not pay 'sales commissions', you need to understand how this works! FSBO's really put the unknowledgeable buyer at a disadvantage!

Perhaps the seller is calculating a 5-6% sales commission and believes that an FSBO listing entitles him to incorporate that into his sales price. Even if that is the case, the seller needs to understand that the 'market price' of the property, is determined by the market, NOT by the 'market' PLUS the sales commission. Optionally, the seller may be 'padding' the price in order to give himself room to negotiate.

Your best bet on determining 'comps' by yourself, is to check the County Property Tax Appraiser's web site. This will show you what properties in the area are actually SELLING for ... NOT, what various sellers are ASKING for their property. (NOTE: You do not have to 'justify' your offer).

Finally, as others have said, make your offer based on what you feel comfortable with. If you believe the seller is playing 'padding games', you may want to offer $10-$20K LESS than you may ultimately be prepared to pay ... so that you have some room to negotiate. As far as 'tips' are concerned, a good strategy is to let the seller know that you have looked at the 'comps', but, would like to know what 'comps' he is using (rather than simply lay your entire hand on the table).
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6. The time now is 02:28 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top