Its a good idea to seek out a mortgage company that is experienced, even specializes in the financing of FSBO sales. These companies differ from most mortgage companies in that their services are more comprehensive than most. They have expanded their offerings to include many things not usually covered by traditional mortgage companies such as closing contracts, title issues and inspections. The closing of a home contract is one of the more confusing aspects of the purchase process and should be handled by a trained professional. Also take into account that most mortgage companies rely on realtors to bring them the bulk of their business, therefore they are ill-equipped to provide educated FSBO financing. This is why its good to find a FSBO specialist mortgage company when dealing with someone who is selling their home themselves.

Another misconception deals with the fact that the buyer is saving money by dealing with an FSBO situation. The truth is that usually the seller is the one trying to save money on agent commissions. If they have subtracted the price of the agent from their asking price, it is possible to save some cash.But this is hardly ever the case. Most FSBO sellers are listing their homes at market value as if an agent was selling the home. Then they attempt to do everything themselves and pocket the cash that would normally go to the agent.

Posted by Joe Toms on December 13, 2008 at 12:00 AM

About Joe Toms
Joe Toms is affliated with Century 21, which is located in Meridian, MS. For further assistance please use the contact information located on the right.




As of 05/23/12 the Joe Toms RePage is ranked at 5,549 with 380 points.