As you search for homes for sale in San Diego’s hot market, you may come across a “For Sale by Owner”. Knocking on the door or calling the advertised number might seem like a money-saving shortcut. However, going directly to the seller could end up costing you more in the long run.
Most Home Sellers Will Work With Your Agent
When a seller lists their home as “for sale by owner,” it doesn’t mean they won’t work with your Realtor. Most sellers understand that many homebuyers have agents, so they are usually willing to pay the buyer’s agent a commission. Involve your agent—they’ll provide invaluable help throughout the process. A skilled buyer’s agent is priceless and costs you nothing, as the seller covers this service. Their expertise can save you thousands of dollars and spare you significant aggravation in the long run.
Once you do your inspections, a lot of things will most likely come up that you will want to take a second look at, and may want to renegotiate because of certain repairs needed. Your agent will serve as a buffer and be able to know exactly how to get this negotiated where it makes more sense to your financial pocket. The buying process is an emotional one for both the buyer and seller. Having your agent as your buffer will give you an advantage; you can discuss things over with them before making a decision on certain things the seller is asking for.
Is The Home Priced Right?
Many times a seller who has decided to put their home on the market as a “For Sale by Owner” is doing so because they feel the Real Estate market is so good for sellers right now that they may not need a Realtor. After speaking with a few Realtors and disliking the recommended pricing for their home, they decided to list it themselves at a higher price to avoid paying commission.
Your Agent will be able to show you the comps and help you determine what price you should offer if you decide to put an offer on this home. An experienced Realtor actively visits properties in the area and stays well-versed in neighborhood comps.
What questions to ask when buying a for sale by owner?
With this being said, when selling a home in San Diego, there are certain disclosures that a seller is supposed to provide to a buyer with the sale of a home. Sellers in For Sale by Owner transactions often lack experience with these documents, leaving them incomplete and unaware of the required property disclosures.
Your agent will know exactly what questions to ask so that the seller will have to disclose everything they possibly know about the property (the good, the bad and the ugly) without leaving anything out.
If you were to buy this house and all of a sudden you run into a problem with it, you can then re-examine the seller’s disclosures. You may discover that the problem was ongoing and the seller did not disclose it.
At this point, you can address the issue directly and likely receive compensation since the seller failed to disclose a “material fact.”
At this point, you can address the issue directly and likely receive compensation since the seller failed to disclose a “material fact.”
If you are in need of an expert buyer’s agent in San Diego, contact the McT Real Estate Group right now. We will go over the process of buying a home and together come up with a game plan to get you the right home that you desire.