If you’re a Charles River Park condo shopper, you probably keep your eyes peeled on the internet looking For Sale By Owner.
Of course, you probably already know that a For Sale By Owner, or FSBO (say it: “fizz-bo”), is a Charles River Park condo being listed without a Boston real estate agent working on behalf of the seller. According to the National Association of Realtors, the number of home sellers listing without the benefit of a real estate agent has actually declined over the past two decades, but those stubborn DIY-ers still represent about a small portion of Charles River Park condo sales.
Are FSBOs something to look for, or to look out for? Neither, really. However, there are some special issues to consider if you want to make an offer on a Boston condo for sale that’s for sale by the owner.
Why Do FSBO?
People typically list a Charles River Park home without a real estate agent for two reasons: To save money on commissions or to avoid disclosing information about the home or property.
The first reason sounds innocuous, but if the seller is unwilling to adjust their price to accommodate their agent’s fees, it probably means that they’re going to be just as inflexible with potential buyers. Also, without a real estate agent to help them “manage expectations” based on actual market conditions in their Portland neighborhood, many sellers will have inflated prices to begin with.
The second reason for FSBOs is the one that keeps real estate agents up at night. Any number of details could be kept out of sight of potential buyers. This could range from liens placed on the property to future assessments.. Buyers must tread very carefully, ask for sellers disclosures, and make sure they have a solid home inspection.
Boston Buyer’s Real Estate Agent
Thankfully, using a buyer’s agent is a great way to mitigate both of these issues, and many for sale by owner sellers will agree to pay the buyer’s agent’s requested commission. This will also be a good indication that the seller is willing to negotiate on the price. Your buyer’s agent will do a comparative market analysis to ensure that the price the seller is asking is fair for the dream Charles River Park condo
A buyer’s agent can also recommend appropriate home tests and help you find the best home inspector to unearth any potential problems. Finally, they’ll help you through the paperwork involved in actually purchasing the Charles River Park home, ensuring that everything goes down legally and that the deal closes without any unpleasant surprises.
Before I even get started what I am writing about is where the homeowners have decided to sell their condo themselves without a real estate agent.
Limited Service Options
There are a few Boston real estate companies that have the words “by owner” in their names. In all cases, these real estate companies list the Boston condos for sale on the MLS, and in most cases, they are also listed as “exclusive right to sell”. They are just like my listings. These are a kind of limited service option where the seller does most of the real estate agent’s job and when the home sells they pay a smaller commission or in some cases, they pay upfront to have their home put on the MLS.
As an agent, I have to say it costs me almost nothing to put a lockbox on a home and use “book-a-showing” so that real estate agents have a way to show my homes for sale to buyers and I don’t understand why some of them for sale by owner companies don’t even provide those services.
During the housing boom years, Boston condo buyers believed they could get a better deal by working directly with the homeowner and by not working with an agent and sellers also believed they could save thousands in commissions. The dynamics were interesting when both parties believed they would come out ahead and save money. The buyers would say no to the price and tell the sellers that they were saving money by not using an agent and therefore were entitled to less money and there would be a kind of tug of war.
Over the years I have run into some pretty savvy buyers and sellers but I am not sure that the savviest buyers and sellers are those who use real estate agents.
Last year I talked to some sellers who did not understand that their home was listed on the MLS and that they had signed an exclusive contract with a Realtor just like they would have working with a traditional agent but that they were on their own to sell the home and to pay any marketing expense
Charles River Park Condos for sale 2020
Sorry we are experiencing system issues. Please try again.
Charles River Park Condo for Sale News 2020
Click on the links below regarding Charles River Park condos for sale.
- Tips on buying a Boston real estate
- Boston real estate buyers how to beat all-cash offers
- 5 tips on buying a Boston real estate for sale
- Benefits of buying a Boston real estate condo
- Design tips for Beacon Hill condo buyers
- Boston Beacon Hill condos for sale 5 must-know terms
- The difference between a Beacon Hill condos and a Beacon Hill loft
- Common mistakes when buying a Beacon Hill condo
- Buying a Beacon Hill condo with kids
- Is it time to ditch my Beacon Hill condo agent?
- Beacon Hill condos for sale: Do I need 20% down?
- 3 signs you’re going to buy a Boston Beacon Hill condo
- 6 principles to know when buying a Beacon Hill condo
- How to select a Boston Beacon Hill condo agent
- Boston Beacon Hill condos for sale downpayment
- Boston Beacon Hill condos finance
- Beacon Hill condos for sale what is negotiable
- Beacon Hill condos for sale: What it takes to get a mortgage.
- Boston Beacon Hill condos for sale. Understand the condo association
- How much do Boston Beacon Hill condos cost?
- How to select a Boston real estate broker
- Beacon Hill condos for sale: Clutter-Free
- Beacon Hill condos for sale: Security Tips
- Beacon Hill condo renters are misinformed
- Boston Beacon Hill condos for sale: Design trends
- Boston Boston real estate: Fixer up
- 8 Beacon Hill condo designs
- How to sell your Midtown condo using social media
- Boston Boston real estate sales volume
- Wage increases make Boston real estate less or more affordable
- Boston Boston condos the importance of high owner occupancy
- Why you should buy a Boston real estate offseason
- The definitions of Boston real estate terms and what they mean?
Click Here: Back to Boston Real Estate Home Search