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Summit, NJ FSBO: to buy or not to buy?

Have you seen some Summit, NJ FSBO homes for sale? Maybe you have or maybe you don't even know what FSBO stands for. FSBO, or For Sale By Owner, basically means that a person has taken it upon themselves, without the help of a real estate expert, to sell their home. So if you're interested in a piece of Summit, NJ FSBO real estate, then you really should think twice about it.

Summit, NJ FSBO homes should only be bought by those who are exquisitely knowledgeable about real estate - if you're not in this category, then you should either a) invest in professional help as you go about buying a Summit, NJ FSBO home, or more advisably, b) move onto a house that is being marketed by an expert realtor. Why, you ask?

Summit, NJ FSBO homes may seem just as appealing, in looks and sales price, as other homes, but the buying process will be all the more difficult and risky. It's probably not worth the hassle and chances are you can find a home sold by a real estate agent that's just as dreamy as a Summit, NJ FSBO home. Here are the pitfalls that many home buyers face when they become enticed with an FSBO home.

Your real estate agent may be useless

Home owners aren't forced to work with agents and so if you're smart enough to use professional help as you shop for a home, it may be worthless in the end if a seller doesn't want to pay any commission. Thus, this could make investing in a Summit, NJ FSBO home a lot more confusing and technically challenging for you. Expect to take on a lot of the paperwork yourself or spend extra money paying your real estate agent's commission yourself, thus preventing you from buying a more valuable home.

Because the process of buying a home is so detail oriented, there is a lot that can go wrong if you buy a Summit, NJ FSBO home. From problems with the property that probably won't arise until after you've bought the house to zoning issues to closing delays and to finding financing and insurance for your Summit, NJ FSBO home, you'll likely run into a slew of problems as you go along.

  • It's hard to negotiate the price for a Summit, NJ FSBO home, as you're much more susceptible to being mislead - especially if your own real estate agent has been cut out of the picture.

  • The bottom line is you're treading thin ice with a Summit, NJ FSBO home. Real estate agents are not only experts on the market and buying and sizing up properties, but they are also bound to certain ethical and legal codes that a regular owner will be oblivious to.

  • Consider the difference of buying a car from a person down the street as opposed to buying it from a dealer that offers a full warranty, etc.

In some cases, you might find it best to buy a Summit, NJ FSBO home, but that's probably only if you're a real estate expert yourself! If you do decide to invest in a Summit, NJ FSBO home, make sure to pay for a professional inspection and never accept an oral agreement over a written one.

Chances are you're going to have to go to a lot of hassle and endure a lot of fees to make sure the legal aspect of buying the house goes your way and the money you can save by buying a home through an agent, as opposed to an Summit, NJ FSBO home, can go toward your mortgage payments. 

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Kristin is a Summit NJ Realtor who specializes in Summit NJ real estate. If you are in the real estate market in Summit, Short Hills-Millburn, Berkeley Heights, Madison, Chatham and New Providence you deserve the expertise that Kristin Balsey, Summit NJ Realtor offers.  Email Me: kristin@kristinbalsley.com  or Call 908 522-1800 for any Assistance.

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