Comparision help FSBO

[vacoder]

Originally Posted by dpbarr2000

Zillow and Trulia? HA!

Neither one are licensed real estate brokers. Not one single mortgage lender will use a Zillow value to appraise a home. Using Zillow can cost you thousands of dollars using incorrect, unregulated information.

Ha yourself. Apparently you did not read my response correctly nor my response to Sunshine. I NEVER said use the Zillow estimate. I said they are good sites to find the asking price and the sold price which come from the same source as realtors have. There selling prices are feeds from the MLS and sold price from public county records.

I never said or implied anything about a real estate. All I said is a person can get their own comps on line. I have dealt with enough realtors to know the they pull comps. And the comps they pull come off MLS and chances are the agent has not stepped inside those properties for accuracy.

[blueherons]

Originally Posted by vacoder

You don't need a realtor is get comps. Plenty of sites like trulia and Zillow are fed from the MLS. You should be able to find comparable houses in the same neighborhood of similar size, age and features and see what they are asking and what they sold for.

Originally Posted by vacoder

Where did I say anything about estimates? I said asking and selling prices not estimates.

Asking prices are not comps. Zillow and Truilla use asking price in home values and both are totally useless.

To the OP, get representation either from an agent or a real estate attorney.

It would suck to get stuck buying a home that has permitting issues that weren't closed out and now the county is forcing you to fix them to the tune of thousands of dollars or get fined $100 a day.

[upgrader]

Originally Posted by blueherons

It would suck to get stuck buying a home that has permitting issues that weren't closed out and now the county is forcing you to fix them to the tune of thousands of dollars or get fined $100 a day.

Isn't that what title insurance is (supposed to be) about?

[blueherons]

Originally Posted by upgrader

Isn't that what title insurance is (supposed to be) about?

No, title insurance is for the buyer to obtain a clear title to the home.

[upgrader]

Originally Posted by blueherons

To the OP, get representation either from an agent or a real estate attorney.

It would suck to get stuck buying a home that has permitting issues that weren't closed out and now the county is forcing you to fix them to the tune of thousands of dollars or get fined $100 a day.

So help me understand. Title insurance doesn't cover unresolved permits, but a buyers agent will guarantee that any unresolved permitting issues will be covered? Do buyers agent come with insurance?

[blueherons]

Originally Posted by upgrader

So help me understand. Title insurance doesn't cover unresolved permits, but a buyers agent will guarantee that any unresolved permitting issues will be covered? Do buyers agent come with insurance?

Agents do not guarantee anything. Nothing.

[upgrader]

Originally Posted by blueherons

Agents do not guarantee anything. Nothing.

We agree on that.

But let's get back to title insurance. You seem to imply title insurance does not cover "unresolved permits". How about illegal additions? Simplistically, if the previous owner put a fence on a neighbor's property.

Or a townhouse style condo owner poured some concrete and added a room (which might lead to that owner becoming a volunteer on that condo board of directors before selling off that unit). I know, you are thinking that would never happen in flor-i-duh.....

[vacoder]

Originally Posted by blueherons

Asking prices are not comps. Zillow and Truilla use asking price in home values and both are totally useless.

To the OP, get representation either from an agent or a real estate attorney.

It would suck to get stuck buying a home that has permitting issues that weren't closed out and now the county is forcing you to fix them to the tune of thousands of dollars or get fined $100 a day.

And yet a third real estate agent calling me out for things I did not say.

I do under stand licensed real estate APPRAISERS use sold properties as comps. Funny how know agent recommended using an appraiser.

Selling prices are very commonly used by real estate agents in presenting a comparative market analysis. Something that the Florida Real Estate Board says one does NOT need to be licensed for.

If I was buying from an FSBO I would of course get a real estate lawyer. But that was not the OP's question.


And now you are seeming to be advising the OP to use and agent to prevent issues that would and should be covered by a licensed title search agent. Great Advice

[FLSnowbirds]

Originally Posted by Cynthia130

Hello




I have found a really nice home FSBO. Since there is no realtor involved, how can I get comps to know if their asking price is accurate for the market?


Thank you

Look at other similar property list prices, as well as Zillow sold prices. Title Insurance handling the closing should provide protection. If you have any doubts get assistance.

[vrexy]

I am not a realtor, but I can tell you that you should definitely NOT use Zillow as a source of information about selling prices. Their information is flat out wrong in many instances. They have my home listed as sold from a few years ago, but it wasn't sold. I refinanced it. I owed a fairly small amount of money on the house at that time, but the interest rate I got was low enough that it was worth paying all the fees, etc. to refinance. Anyway, they have my house listed as sold for the amount I refinanced, which is way less than half of what the house is actually worth and would sell for.

Zillow is good for one thing, and that is for looking at pictures of houses if you want to see what they look like inside, but you don't want to waste a real estate agent's time when you just want to gawk and aren't interested in buying.