As you’re shopping for a new home, you might come across some that are marked FSBO, or For Sale By Owner. This simply means that the sellers aren’t using a real estate agent to list their home.
If you find a FSBO that you really like, and you’re already working with a buyer’s agent to find a new home, you can likely use them to purchase the new place. As with most homes, the sellers will typically still pay your buyer’s agent out of proceeds from the settlement, and you’ll be represented by your agent as usual. He or she will still take care of all negotiations, inspections, paperwork and coordinate the settlement process.
Occasionally, there will be some negotiation between the buyer and seller regarding who is responsible for paying for your buyer’s agent. Be sure to carefully read the buyer’s agency contract, which is the agreement that you have with your agent in regards to fees and payment.
If, on the other hand, you find a FSBO that you’ve arranged to purchase and you’re not working with a buyer’s agent, you can use a real estate professional to simply handle all of the paperwork for you and arrange a settlement. In this case, the real estate professional typically does not take care of showings or negotiations – instead, their role is primarily to handle all paperwork. This is typically arranged for a set price, and much lower than a typical commission fee.
EveryHome is happy to provide these services for you. Please contact us at (215) 699-5555 or email us at theoffice@everyhome.com.