Sandpoint for Sale by Owner

Looking to buy property in Sandpoint? You will be happy to find that there are all kinds of properties available on the market – from small rural houses to large waterfront homes. Sandpoint is a great place to buy a home, especially if you enjoy spending time outdoors and living in a small but vibrant community.

When looking to buy a home, there are two main options available: use an estate agent to show you a list of homes or look for property for sale by owner. There are advantages and disadvantages to both approaches and in this article I will talk about some of them.

Sandpoint for Sale by OwnerAdvantages of buying for sale by owner homes

There are several myths about FSBO (for sale by owner) homes that must be ignored:

1. FSBO sellers are not serious and will just waste your time. This isn’t true – many owners who are looking to sell their property are ready to sell as soon as they can find a good deal.

2. FSBO properties are more expensive. That’s not true, because most surveys show that FSBOs get less for their homes than similar properties sold through an estate agent. Most home owners are happy to negotiate a good price with a serious buyer.

3. FSBOs often try to withhold information about the property. This has very little to do with who is selling the home, as all sales (through an agent or by owner) are regulated by the same laws.

Buying a for sale by owner property

  • When buying a FSBO home, make sure that you get a proper contract created by a real estate lawyer. This shouldn’t cost you a lot of money and is going to protect you from any future problems.
  • Always negotiate. As a general rule you should always offer significantly less than the asking price and then negotiate up. Negotiating down is often going to be very tough.
  • Use an escrow company to place your earnest money deposit. Always negotiate in advance who will pay for what – escrow fees, taxes, title fees, etc.
  • Hire a certified home inspector to perform a thorough inspection before buying. Make sure that the inspector has proper credentials and belongs to a professional body.

Remember that these are just rough guidelines and there are many other aspects of home buying that require careful attention. It’s always best to seek qualified legal advice when in doubt.