If you are planning to buy a house in Australia, there are several things you must consider. While there are many good real estate and homebuilding companies in the country, you may want to consider buying homes for sale by owner. There are several reasons why you should choose a home being sold by its owner, and this article will discuss these reasons.
Buying a Home? Why Not FSOB?
Nowadays, many Australians have taken the opportunity to have their homes sold to potential buyers without having to pay commissions. Although home and property brokers are here to stay, another approach in home-selling has taken away the professional within the whole setup. This is FSBO, or for sale by owner. Simply, this involves the buyer and the seller agreeing to a sale of the latter’s home after the negotiations between the two parties, generally without eliciting the help of a professional home broker. Though that is the case most times, it is also possible for an FSBO owner to deal with a buyer who is represented by a broker or agent. In this situation, the seller may or may not pay the buyer’s broker commission, as he or she is not obligated to do so.
Known Advantages of Homes for Sale by Owner
An Australian homeowner deciding to do it may be swayed by the fluctuating market and sales prices, yet for the most part, the decision is largely dependent on the situation. Indeed, the plan to do such may be enticing if the homeowner is not in a hurry to sell. Otherwise, seeking a broker and having to pay commission may be the best way to go. Given how interesting this home-selling scheme is, it is worth pointing out the benefits of FSOB for both the seller and the buyer:
- The pricing is always straightforward. Because no broker or agent is involved in the negotiations, the seller can be able to sell his or her property at a fair price. A buyer may find that a fair yet well-researched price may be too good to pass up, and since there is no third person involved, both parties can negotiate for the price until they arrive at an agreement and, ultimately, the completion of the sale.
- The seller has complete control of the whole situation. For one thing, a home being sold by the owner can be presented like a model home at any time, provided that the seller calls the shots when it comes to scheduling open houses for potential buyers. Also, the seller takes the responsibility of advertising the property and dealing with the buyers, eliminating any hassles and miscommunications.
- The buyer is capable of negotiating directly with the seller, not with the broker. Since there is no broker involved, the negotiations between the two parties and the eventual completion of the sale is straightforward. No
- The buyer must know that a seller of a home that is for sale by owner is eager to have his or her property sold. Therefore, it is important for the buyer to take chances in completing the transaction. Here, any questions that a buyer may want to know about the price of the home, the other pertinent information about the home can be easily answered by the home-seller.
While there are more benefits of FSBO, the mentioned above are arguably the most apparent and common. Hence, if you want to acquire a new home, you may want to consider FSOB instead of buying one from a real estate or homebuilding company. The advantages mentioned above may be enough of a reason for you to consider it.