Buying a FSBO

[WhoFanMe]

Originally Posted by sbd78

Obviously if you are buying a FSBO with no agent, you should make sure you have a good real estate attorney representing you. And if the FSBO seller is willing to pay the commission and work with a buyer using an agent, that would work too. But WhoFanMe was suggesting the buyer may be under contract and would have to pay a commission to their agent if they bought a FSBO without their agent, and that doesn't sound accurate to me, at least not in my area.

If the FSBO seller is willing to pay the fee specified in the Buyer Agency agreement, there is no issue. However, if they are not, then the buyer will have to come up with it. Before I sign these agreements with buyers, I explain this carefully. If they want to find properties on their own, then they don't need my services. If they understand the value I provide, then I take over everything for them. It's a choice to be made.

There is nothing wrong with having an attorney represent you. But who is going to negotiate with the FSBO on your behalf? Who is going to help you choose a home inspector and attend the inspection? Who is going to babysit the FSBO, who is getting no advice and often irrational? Who is going to make sure that your lender supplies the necessary document on time to the seller, as per the contract, coordinate the appraisal with the seller, negotiate the results of the inspection, schedule the closing, attend the final walk through, review the HUD Settlement statement and attend the closing with you?

[PotterGeek]

If a seller refuses to work w/ a buyers agent............ I'd look for why.

Maybe they just don't want to pay a commission....I don't think that's something to be skeptical of.[/i]

I do not know of one single person that has been in that situation that did not have problems.

Really?
Are you a realtor by chance?

[momof2dfw]

Originally Posted by leavingbyron

Maybe they just don't want to pay a commission....I don't think that's something to be skeptical of.[/i] Really?
Are you a realtor by chance?

NOOOOO!!!!!! Not in this lifetime. I've been asked to get my license by some to be their asst if I wanted to work for them but NO WAY!!!! I don't work for free

[palmcoasting]

It all depends on if you signed a buyers agent agreement or not and what it says.
If you didn't sign one or your agreement allows you to find a house that is not listed on the MLS, then no, it's not unethical. I believe you are moving to a new area... are you familiar with the local laws, how purchasing/selling of homes are handled? It's not the same everywhere, as I'm sure you know already. So, if you are going to buy on your own, just make sure you know all the ins and outs of the buying process and make sure you perform according to the sales contract.