How to find Fargo ‘For Sale By Owner’ home listings
There are several advantages of buying a home listed as For Sale By Owner (FSBO) in Fargo. Since the seller is saving money by not hiring a real estate agent, he or she can offer a better deal. FSBO sellers try to save on exorbitant brokerage fee that could be up to six percent of the sales price. You will find that some of the FSBO homes available on the market are distressed properties that you can buy at a discounted price.
Whatever your reason for buying a FSBO home, you should know how and where to find a great deal. Here are a few tips on finding FSBO properties in your area:
- Since more and more homeowners are selling without hiring realtors, FSBO listings have flooded the market. As a result, an entire online industry has sprung up to cater to the needs of these homeowners. Now there are lots of websites which specifically list only FSBO properties. You can build a list of most popular websites and keep a tab on new listings on a regular basis. Most of these websites provide search forms on their web pages where you can fill up important details such as ZIP code, your price range, neighborhood name and school district to narrow down your search.
- Good old Craigslist is still one of the most popular classified ads websites in the U.S. For most homeowners, Craigslist will be the first place to list their properties because they don’t have access to the area’s MLS. Craigslist has an entire category dedicated to real estate and housing. You can browse through all the FSBO listings in Fargo using the website’s search functionality.
- Another very popular advertising medium among most FSBO sellers is the classified ads section of local newspapers and magazines. These ads are very cost effective and at the time effective. Go through these listings on a regular basis. Pay particular attention to listings in your target neighborhoods.
- Most home sellers advertise their properties using bandit signs. Take a tour of your target neighborhoods and look for these yard signs. You can note down contact details of the sellers and call them up to either schedule showings or get more details about asking price, layout, condition etc.
- Many brokerage agencies allow FSBO sellers to list their properties in the MLS for a fee. You can contact realtors who work for these brokerages. They can tip you off as soon as a new home is listed as FSBO when the MLS hits the market.
If you are in the market looking for a FSBO home, you should make sure that you have performed a comparative market analysis (CMA) to determine your offer price. It will help you to find out if the owner has listed the property above the market value. Another important thing to keep in mind is that many FSBO sellers want to sell their homes as-is. In that case, you need to have a thorough home inspection done to ensure that the property is in good condition. If it’s not, then you can ask the seller to pay for repairs or lower the asking price.