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One of the hottest buzz terms in the real estate market right now is FSBO - For Sale By Owner. More and more people are deciding that they don't want to relinquish a chunk of the profits they make on their houses for sale in Oshawa to real estate agents and are instead selling their property on their own. If you're thinking you don't want to shell out for commission either, consider the risks and rewards of this type of transaction first.
The biggest reward, of course, is that you won't have to hand over 5% of the price of your Mississauga real estate over to someone else when the sale goes through. If your house costs $200,000, that's a $10,000 savings. However, you should be aware that many buyers will expect you to deduct the cost of the realtor's would-be commission from the cost of the house, effectively forcing you to do extra work for no extra benefit. In the world of buyers, for sale by owner means "deal to be had."
In fact, many homeowners who decide to sell their units at 650 Queens Quay W - the Atrium on their own find themselves targeted by unscrupulous buyers hoping to take advantage of a bumpkin who has no idea what his property is worth. These buyers will pitch you low ball offers and take a hard line in negotiations hoping to bully you into selling below market value. Without a realtor to do your negotiations for you, you could fall into this trap unless you have a lot of confidence and a spine of steel.
Another situation in which the buyer can take advantage of your inexperience is when they hire an agent to help them find Port Perry real estate but you do not have an agent representing you. In this case, you will be forced to negotiate against a professional and may find yourself over your head when it comes to figuring out all the ways he or she could be wheeling and dealing. Additionally, if the buyer has an agent, you will still have to pay that agent's commission.
When you're selling your London, Ontario real estate on your own, its extra important to make sure you have a competent real estate layer you can consult. Without an agent there to warn you about mistakes and loopholes you may be missing in the paperwork, you could find yourself either being taken advantage of or leaving loopholes open that the buyer could use to sue you.
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