FSBO buying home for myself not investing purposes

[Kelly Klein]

Hello everyone,

I am currently looking at a property in Philadelphia which is FSBO. I do not have any experience with FSBO's. We have met with the guy at the showing of the property and we got along very well we have a lot in common and he defiantly like us. We are working on getting pre approved this Monday. I am asking for some help on how to go about negotiating with him. We have been talking via text message. Do I negotiate through text or is that something to be done in person? Do I wait until the pre approval is done? Any advice helps!

Thank you

[Jonathan Greene]

Just because it's a FSBO does not mean you should be doing a DIY job on your end, just because they want to. FSBO sellers are notoriously overpriced, under-repaired, and unrealistic. They will hide things from you, they won't want you to do inspections. Basically, you should not buy a FSBO without counsel and help, for a first buy as a homeowner. Get a local realtor to help and see if the FSBO will compensate a buyer's agent at 2 or 2.5% since they aren't paying a listing fee. Get a RE attorney to make sure you are protected in the contract and no matter what the seller says about the upkeep, do ALL inspections and do not give anything away because you think they like you and you like them.