FSBO, should I get a realtor as a buyer?

[Marzieh Rostami]

So here's a little background: I have the experience of 3 real estate transactions (2 purchase and 1 sale) all of which involved my primary residence. I became interested in real estate investing about a year ago and have been educating myself on the topic and waiting around for a good deal. So far I have had no luck.

Recently However I came across an FSBO which is currently priced high but I think I have a very good chance of getting a lowball offer accepted because it has been on the market for over 150 days and it has been under contract 3 times already and all fell through. It is currently under contract again but the owner told me that this one will most likely fall apart also. I am supposed to call him back next week to see how it went.

My question is, if the current contract falls through and I get a chance to place an offer should I do so without a realtor in order to get a better deal?

I am worried that I have no experience doing this and don't even know what contract to use if I don't have a realtor. I also know that they are behind on taxes so how do things like that need to be handled?

I know it's best if I have a realtor but I really don't want to lose out on a good deal because they are so hard to find. I maybe able to get the price I want if there are no realtor fees involved. I am interested to hear your thoughts. Thanks

[Bob Woelfel]

@Marzieh Rostami in my experience FSBO's list price is what they want to take with no agents involved. I'm not sure you'll get a better deal going at this on your own. You said it yourself that you aren't sure on a few of these things so I would suggest working with someone as it doesn't cost you anything. My next question would be why has the property fallen out of contract so many times? Are these buyers not getting financing lined up or is there something seriously wrong with the house? Might be another reason why you will want to work with an experienced agent. I don't know the price point this house is at or how much an agent will cost at 3% to cover your side, but I certainly think it's worth it to make sure your interests are protected.