If you are buying a home that is a for sale by owner (FSBO), you will need some professional assistance.
Your offer will need to be submitted on a contract that is approved by the Florida Bar. Don’t get taken advantage of. Protect yourself with a comprehensive home inspection, property appraisal, and title insurance policy.
Most FSBOs will pay commission to a buyer’s agent—in real estate transactions, the seller pays Realtor commissions, not the buyer. It’s important to ask the seller upfront if they’re willing to pay your agent’s commission.
You will need an experienced agent to draft your offer on a standardized FAR/BAR contract. Necessary addenda and disclosures must be included, such as the Lead-Based Paint Addendum for homes built prior to 1978, a Homeowner’s Association (HOA) Disclosure, and relevant property addendums. A smart agent ensures your offer package is complete and legally binding.
Navigating an FSBO purchase without professional safeguards leaves buyers exposed to significant financial and legal risks. Ensure you protect your investment using these three essential pillars:
Even when paying cash, never waive the appraisal contingency! You need assurance that you aren’t overpaying. If you wish to compete in a low-inventory market, offer to pay a specified amount over the appraised value instead of waiving the appraisal blindly.
Sellers must provide a Seller’s Disclosure, but FSBO sellers often miss defects or are unaware of disclosure laws. An independent home inspection reveals the home’s true condition so you can estimate repair costs and negotiate accordingly.
Title Insurance shields you from unpaid taxes, code violations, or existing liens. A title company runs a thorough search to ensure there are no clouds on title, protecting your ownership rights for as long as you own the home.
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