Purchasing a house directly from the owner, also known as a “For Sale By Owner” (FSBO) transaction, involves acquiring a property without the involvement of a real estate agent. Unlike traditional home purchases facilitated by agents, FSBO transactions offer unique advantages and necessitate specific steps to ensure a successful outcome.
The primary benefit of buying a house from the owner is the potential cost savings. By eliminating agent commissions, buyers can save a significant amount of money, typically ranging from 5% to 6% of the purchase price. Additionally, FSBO transactions often allow for greater flexibility and customization, as buyers can negotiate directly with the seller to tailor the contract to their specific needs and preferences.