DIYbanter - View Single Post - For Sale By Owner

On 23 May 2004 20:24:28 -0700, (brotherjohn)
wrote:

After several months of not finding a house that I want, I find one
that is for sale by owner. I have never bought a house under these
circumstances and wondered what suggestions OP's on this list might
have on how to proceed here.

What is the first step?

I noted right off that the house is (IMO) $3,000 over what most houses
in the area are selling for plus the roof is in need of replacement.
The seller was open on the issue of the roof, so I feel they are
expecting the negotiation on that point, but should a roofer be
consulted on replacement cost?

Should I get an appraisal and/or home inspection and let that speak on
the matter of the roof and whatever else may be an issue in price or
should I go ahead and approach the seller on price.

What role does the bank play? Do they require an appraisal?

At what point should I get an attorney involved?

Thanks for any help.

The questions you are asking clearly show that you do not have enough
experience or real estate knowledge to do this by yourself.

Get your attorney involved before you sign anything. Repeat, do not sign
anything unless your attorney has given it his approval.