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Buyer's Frequently Asked Questions
Homeownership remains one of the highest goals for many people because of its many benefits.
Along with owning your own home comes a sense of security and belonging that cannot be found anywhere else. For many, homeownership represents personal and financial success as well as the profound satisfaction of living in a home that you own.
A home is also an excellent investment that can have many financial advantages and tax benefits. The amount of interest you pay on a home loan and the real estate taxes you pay on your home are among the few major federal tax deductions. Owning a home is the primary way most people build wealth.
Whether you are buying your first home, upgrading to a newer home, buying a vacation home or buying an investment property, FSBODayton.net is proud to be your partner in pursuing your dream of homeownership.
Q. What is the first step in buying a house?
A. Ideally, you should get pre-qualified for a home loan before looking at homes. This way, you will know how much home you can afford.
Q. Once I am pre-qualified, how do I get in to see the home?
A. Simply call or email the seller you see on FSBODayton.net and schedule a time to view the home.
Q. Since I am not working with a real estate agent, will it be harder to buy a home?
A. Absolutely not. It is actually very easy. You are cutting out the middleman, so you can negotiate directly with the seller on the price, seller-paid closing costs, items included, etc. You won’t be wasting your valuable time waiting for offers and counter offers to be accepted or declined.
Q. How can I protect myself against the home’s being in poor condition?
A. You can find links for home inspectors who will inspect the home in our Professional Resources section. Home inspectors can provide a variety of services, from just a pest and dry rot inspection to a full home inspection. Inspections are normally ordered and paid for by the buyer.
Q. What if the inspection report comes back with repairs that need to be made?
A. You can then negotiate with the seller on what will be fixed prior to closing, or possibly agree on a lower price for the home so you can make the repairs yourself.
Q. Who orders the appraisal?
A. Your mortgage lender will order a home appraisal.
Q. What if I have a real estate agent I am already working with? Can I still work with him or her?
A. Since FSBODayton.net is strictly a For Sale By Owner website, we ask that if you want to work with an agent, then you raise the purchase price of the home enough to cover the cost of the agent’s commission fee. Sellers turn to FSBODayton.net for a reason—they don’t want to pay high commission fees. If you elect to work with an agent, you should plan on covering the agent’s commission fee yourself, through a higher purchase price or by paying it directly. Buyers do have the option to ask sellers if they are willing to pay a commission fee out of their net proceeds, but that is unlikely.
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