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John R Weiss
 
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Default For Sale By Owner - Bad Roof

"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?


Find a realtor who will assist you, for a fixed fee, with the required
inspections, negotiations, etc. You may find that less costly than trying
out something new on your own.

What might that fee be? Shop around! For reference, though, be aware that
a real estate agent normally gets about 1.5% of the selling price (double
that if [s]he sells hir own listing). For a $100,000 house, that's $1500.
However, the agent will have no advertising or listing expenses, and will
not have to spend a lot of time showing you houses.

I would suggest an up-front portion to help you with the decision, and a
second portion at closing if you buy it.