Buying a condo for sale by owner (FSBO) is a lot different from a regular condo purchase, so it’s important to take this into account as you’re putting together a home buying strategy. Some people who buy a condo for sale by owner use real estate agents, and some don’t. If you’re not going to use a real estate agent, here are some of the most important parts of the transaction that you’ll have to take care of on your own:
Buying a Condo for Sale By Owner – What are Some of the Most Important Things You’ll Have to Take Care of by Yourself?
- Take care of your own property research without the most relevant, subdivision specific sales data from the MLS.
- Write your own contract paperwork, or hire a lawyer for an expensive hourly wage to draft this for you and advise you on the specifics.
- You’ll need to take care of your own negotiations with the seller.
- Sometimes, FSBO sellers don’t have solid grasp of the specifics of how real estate transactions work, so you’ll need to anticipate this and plan on having to initiate some course corrections when and if the seller goes off track.
Read Part 2 of my blog series on buying a condo for sale by owner. We’ll cover additional items you’ll need to plan on taking care of by yourself during the transaction.
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