Before we go any further let's discuss some for sale by owner myths;

• For Sale By Owners are not Flexible on price

Well According to studies by the national association of Realtors, most for sale by owners get less for their homes than those who list with a real estate agency. These owners are do negotiate, and it sounds like you are going to get a better deal buying a home that is for sale by owner.

• For Sales by Owners are hiding material facts by not hiring a real estate agent

FSBOs are bound to the same laws that govern those who are represented by a real estate agent. These sellers need to give buyers federal- and state-mandated (if any) disclosures, including material facts.

• We need a Realtor to help us with all the legalities of home buying.

Why not hire a Real Estate attorny and really get legal representation, or better yet negotiate with the seller to split the cost of the Real Estate attorny with you? If you know a little about contract (and they are pretty simple) you can just purchase the real estate forms online and save some money.

Lets continue!