BUYER INFORMATION

Buyers! Enjoy your experience when purchasing a home from a For Sale By Owner seller. And you also can probably save some money! MOST For Sale By Owner sellers reduce their price a little bit, because they don't have to pay the many, many thousands of dollars in commission to a real estate agent or broker. The sellers drop their price a bit, so they can attract the most traffic to their property.

To help you save time also on your end of things, here's some helpful hints to speed up your buying process.  This can help you save many steps of back-tracking.

1. Get your credit history in order, and have a Pre-Qualified Letter already in hand to show your prospective seller.

2. Shop around on your own for what mortgage companies offer the best points and interest. Once you find one, they may be able to help you with the Pre-Qualified Letter.

3. Your prospective seller will be choosing the Title Company for your transaction.

4. Be ready to have a check in hand of at least 1% of the seller's price for a deposit toward your purchase. You will be making this check out to the seller's Title Company. This will go toward the purchase of the property. If your deal falls out through fault of the buyer, you will not receive this Earnest Money deposit back. If the contingencies are not met by the seller, you will get the check back.

5. Be sure to get your agreements and negotiations with the seller down on paper, and both have buyer and seller signatures and dates on these items.

6. By going throught the For Sale By Owner process, you can opt for a little legal advice with your attorney and CPA, and still probably save many thousands of dollars than having a Real Estate agent help you buy your property. This is relatively an easy process for a buyer. You can shop around for your newest property on your own today!

This is intended as a general guide, not as legal advice.

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