F S B O Buyers Guide

FSBOs: Many Realtors will tell you to beware. FSBO Sellers want you to believe you will save money.

Can you buy a home all by yourself? Yes you can.

Of course if you have a realtor that you are working with. Please bring them. Realtors can add a great deal to the transaction. We currently have this house listed in the MLS with a 3% commission to buyer's agents.

If you think you are ready to deal for yourself then read on.

With the help of a diligent Escrow Agent, (We will use Colorado Land Title) there are really only a few forms that we need to prepare in the sale of this house.

Contract to Buy and Sell Real Estate - Outlines the parameters of escrow, deadline dates, contingencies etc.

Seller's Disclosure Form - This is where the seller states every known issue with the property. Your Inspector should have the final word, but I will list a few quirks about an old Durango House. This form is comprehensive and gives the seller very little room for withholding anything. Buyers need to keep in mind that the Seller is not an expert, and that a professional home inspector should be called in for any home purchase.

Closing Instructions - 3 pages - Buyer and Seller Simply state their requirements to the Closing Company

Lead Based Paint Disclosure - Buyer is given information on lead based paints. Buy confirms receipt and understanding of the document.

Why FSBO our home?

Pretty Simple: I want to get a deal done!

For years now, people have been buying scrapers on single lots in downtown durango and paying $350,000. This house sits on two lovely lots. My asking price is about the same as buying two empty lots. It's as if you are getting two lovely homes for free. So for years, I have strongly believed the value of this home to be upwards of $700,000

If I listed traditionally I would have to list at $742,000, and that still would leave me no room to negotiate.

In this market and credit situation, there just aren't that many buyers who can swing $750,000 even for two homes.

So with a little marketing Savvy and our Internet skills we decided to FSBO. Our listing price is well below truly comparable homes, and we still have a little bit of room to cooperate with brokers or negotiate with buyers.

FSBO References.

Buyer Tips, Home Buying Guide, FSBO

Home Inspection Checklist

Mortgage Broker - Chris has worked wonders for me in the past when banks would not help.

FSBO Guides and Documents.

I might not make many friends in saying this but you must beware in any real estate transaction. Even if your Realtor is your own mom, she is strongly incentivized to make the sale.

There are a few people in the Real Estate process who are there for your protection.

The House Inspector - Get One ! Your Realtor can do this for you or you can spend 2 minutes and find one in the yellow pages.

Escrow Agent - This is the person who does the real work at closing and makes sure that everything that needs to happen, happens by closing date.

Title Insurance - Arranged by Escrow Agent. Assures and Guarantees that you are buying the home without unknown encumbrances.

For other great Durango and La Plata County FSBO For Sale By Owner Real Estate visit http://fsbodurango.com/