(Closed) FSBO buyer advice aside from the basics (California)

posted 5 years ago in Legal
Post # 16
Member
2847 posts
Sugar bee

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bellanotte11:  The seller was not completely realistic in her asking price. She had purchased the home a year prior to selling,and had invested some money doing improvements. She wanted to get back what she had paid for the house plus her $ and also (I think) the money shed spent in closing costs when she purchased it. Any seller should always go into improvements knowing you cannot expect to get out what you put in. Regardless of what a seller asks price wise, they aren’t going to get more than it appraises for. We got into a bidding war and she basically kept asking the 3 highest bidders to come up on price. We did not feel the home would appraise and we didn’t enjoy feeling like she was going to keep asking for more $. 

Other than that, she didn’t know all the details of the house including things you would need to know for purposes of insurance / mortgage. I think if she had been more experienced some of these things wouldn’t have been an issue. She was a little out of her depth selling the home herself but frankly I suspect was too cheap for a realtor.

Post # 17
Member
733 posts
Busy bee

Have you considered buying land and putting a manufactured or double wide on the property? It might open up some properties for you.

I know very well that it is hard to buy a home when you are in a high priced market and have a tight budget. This was us with our first home. We ended up with a townhouse in a very bad neighborhood and a crazy long commute in traffic. I know it can be frustrating trying to find a decent home in these circumstances, but keep your chin up, something will come along.

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