Seller didn't hire an agent? Here's why you should

Here's another post by Jennifer Seidelman:

Homes that are for sale by owner -- when a seller decides not to hire a listing agent -- are more common than you might think. They account for about 8 percent of all home listings currently on the market. If you're on the house hunt, you're likely to come across one in your search.

FSBOs are really popular with sellers because they think that they're saving money...and also because realtors tell them what their house is really worth and they don't want to hear it. So, if you're looking at buying a FSBO, be sure to follow these four tips:

1. Hire an agent. Since the seller doesn't have an agent, it's vital that you do -- if only to ensure the transaction is handled correctly and legally. An agent will be knowledgeable about market conditions and can help you craft your offer, prepare the contracts and find the right lender to work with.

2. Be ready to negotiate. These homes are rarely priced appropriately. Sellers typically overvalue their homes due to their emotional attachment to it. Having an agent on your side gives you access to comparable sales data to help you negotiate the right price.

3. Get a home inspection. The owner may not know that they are legally required to disclose known issues with the property, and that oversight could mean costly repairs down the road. A home inspection can shed light on potential problems before you go through with the sale.

4. Add contingencies to your contract. Contingencies give you an exit route should something go wrong during the transaction. If you can't get a loan, you're unhappy with the inspection results or the appraisal doesn't come in at the sale price, you have a way to back out and save your money.

Whether you're buying or selling, be sure to use a realtor...they can help you get the right price if you're buying or selling, plus they can help you find the perfect home if you're buying.

And if you're looking to buy or sell in the Portland or San Francisco Bay areas, be sure to reach out to Jennifer.

Interesting days

August will be Inventor’s Month, Fishing Month, Romance Awareness Month, Peach Month, Water Quality Month, Happiness Happens Month and Anti-Frizz Month

Today - Girl Friends Day, Respect For Parents Day, World Scout Scarf Day, Yorkshire Day, Raspberry Cream Pie Day, International Childfree Day, World Wide Web Day, Rounds Resounding Day and World Lung Cancer Day

Tomorrow - Ice Cream Sandwich Day, India Pale Ale Day and Coloring Book Day

Next Wednesday - International Cat Day, Happiness Happens Day, Bowling Day, Odie Day and Scottish Wildcat Day

September will be Piano Month, Chicken Month, Happy Cat Month, Hunger Action Month, Childhood Cancer Awareness Month, Sewing Month, Suicide Prevention Month, Pulmonary Fibrosis Awareness Month, Ovarian Cancer Awareness Month and Read A New Book Month

September 1 - Building and Code Staff Appreciation Day, Emma M Nutt Day, World Beard Day, International Turkey Vulture Day and Ginger Cat Appreciation Day