LS FSBO Frequently Asked Questions (FAQ)

Q. Are the listings on your site also on the MLS?
A. No. Our property sellers agree to keep their properties off the MLS while listed here. This helps to ensure that you won’t pay an inflated price to compensate for agent commissions.

Q. What is the first step in buying a house?
A. It’s a good idea to get pre-qualified for a mortgage. This way, you’ll know how much house you can afford. For a quick answer on how much you can afford, try our Pre-qualifying Calculator.

Q. When I’ve found a home I’m interested in, how do I get in to see the home?
A. Simply call or email the seller and schedule a time when you can come view the home.

Q. Since I am not working with a realtor, is buying a home hard?
A. Absolutely not. It is actually much easier. You are cutting out the middle man so you can negotiate directly with the seller on the price, seller paid closing cost, items included, etc. You won’t be wasting your valuable time on waiting for offers and counter offers to be accepted or declined. We’ve carefully outlined the process of buying directly from the seller in the LS FSBO Buyer’s Guide.

Q. How can I protect myself against the home being in poor condition?
A. You can schedule a home inspection that will inspect the home from just a pest and dry rot inspection to a full home inspection. Any inspections that need to be made will generally need to be ordered and paid for by the buyer.

Q. What if the inspection report comes back with repairs that need to be made?
A. Most purchase contracts are contingent upon home inspections, if you find a problem you can ask the seller to make repairs or negotiate who will pay for which repairs. You can also negotiate with the seller to determine what they will fix for you prior to closing or possibly take a lesser price for the home so you can make the repairs yourself. These will be governed based on what is in the purchase contract and what you negotiate. For a complete list of buyers tips and important contingencies to consider including in your contract, please visit our LS FSBO Buyer’s Guide.

Q. Who orders the appraisal?
A. Your mortgage lender will order the appraisal.

Q. What if I have a realtor that I am already working with? Can I still work with them?
A. If you sign a contract with a Buyer’s Agent, make sure that it clearly states that commission will be paid only if you purchase a property shown to you by that agent. This will enable you to also look at For Sale By Owner properties without obligation to pay a commission to your agent. We ask that you do not bring an agent with you when looking at For Sale By Owner properties unless you are prepared to pay the agent’s commission should you choose to purchase a FSBO property.

Q. My question is not answered here. How can I get an answer?
A. Email info@lsfsbo.com for answers to questions not yet addressed here.