For sale by owner in Saskatoon can either go very smoothly or it can be a hassle. It is all up to the seller which direction it goes. Some For Sale by Owners are willing and happy to work with Saskatoon REALTORS® as they may only have to pay for half of the normal commission (buyer’s agent). Some of the common challenges working with For Sale by Owner in Saskatoon are:
- Listing price-often it is high as these sellers want more for their home than it is likely going to appraise for with the bank. These sellers look at the competition’s list price and price theirs accordingly. They don’t have access to the sale data, which is usually less than list price, so they tend to list high. They also don’t see the problems with their own property that an unbiased Saskatoon real estate agent will see when listing their home. Home owners tend to see all of the pros of their home and feel the need to justify anything that other people don’t like so their emotions are very much involved which often is attached to the price. Most home owners feel their house is worth way more than their neighbours just like most parents think their kid is the cutest.
- Accessibility-for sale by owners need to be available to let us into the house to view it. Often they work during the day or are not available to let us view when we are out viewing all of the other houses for sale in Saskatoon.
- Motivation-often for sale by owners are not that motivated and they are simply ‘testing the waters’ of the Saskatoon real estate market.
- Comfort-how comfortable are you, as the buyer, to speak honestly about a homes pros and cons when the owner is beside you?
Negotiations-if you are negotiating directly with the seller and you don’t have a REALTOR® there on your side, ask yourself who the seller is looking out for? Definitely not you!
- Disclosure-many for sale by owners won’t disclose past or current issues with their home for sale in Saskatoon. When I represent buyers on private sales I know which questions to ask, where to look for evidence of previous water issues, and which reports to have done.