For the Seattle Times, this is a pretty good article offering insights into what it takes to succeed as a "For Sale By Owner" ["FSBO"]. http://seattletimes.nwsource.com/html/realestate/2002975214_fsbo07.html
However, there is an important aspect that was overlooked by this article: buyers that shop FSBO's are generally looking to save money just as the FSBO seller is trying to save money i.e., buyers expect a piece of the 6% that the seller is conceivably attempting to save. Why? The buyer of a FSBO is assuming a certain degree of risk.
Property condition disclosure is usually the achilles heel of residential real estate transactions. Experienced agents guide sellers through the proper completion of the Form 17 5 page disclosure statement. We always say to our sellers, "when in doubt, disclose". Sellers operating on their own are not inclined to think that way. When a buyer finds non-disclosed issues with a FSBO property as a result of an inspection, the seller's credibility and trustworthyness becomes the problem, not the property.
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