Homes offered for sale by owners can be found at online real estate websites such as FSBO.com and Zillow, and buyers can search by location and other criteria. For sale by owner real estate signs often appear in front yards of homes located in various neighborhoods, according to About.com.Continue Reading
Before agreeing to purchase a home on a for sale by owner deal, buyers should always hire an experienced home inspector who has credentials from an association, notes About.com. If the inspector finds major problems in the home, buyers have the option to negotiate for a lower sales price, request that the seller hire a contractor to fix the problems, or ask for a repair credit to cover hiring a contractor. Homeowners who sell their own home are mandated by federal and state laws to disclose factual information regarding the house, and cannot purposefully hide problems.
To make an offer on a for sale by owner home, buyers need a purchase contract, which can be downloaded online or obtained through a real estate lawyer, states About.com. For a fee, a real estate lawyer can take care of the entire purchase contract process, which includes the buyer's offer, and contingencies such as appraisal, loan approval, loan inspection, seller clear title and disclosures.Learn more about Finding a Home