Homes for sale by owner are residential homes that are being sold without the assistance of real estate brokers. Many individuals choose to attempt to sell their homes on their own, in order to avoid the high fees associated with real estate brokers. If an individual can sell his/her home without a broker’s assistance, he/she will not be required to pay this often excessive fee. A home for sale by owner is not necessarily a home that has been foreclosed.
Some home owners may need to relocate or may have simply decided that it was time to leave their homes, thereby causing them to sell their homes. However, for sale by owner homes may indicate that the home is in a state of pre-foreclosure. If this is the case, the home owner will be attempting to sell his/her home as fast as possible, in order to avoid the consequences of foreclosure.
An individual may sell his/her home for much less than the home is worth, just to avoid foreclosure. This type of situation, though terrible and unfortunate, can present potential home owners and real estate investors with great opportunities.
If a home is in pre-foreclosure, an individual can often obtain this property for relatively cheap. However, even if a home for sale by owner is not in a pre-foreclosure state, it may still be significantly cheaper to purchase than if it was sold by a real estate broker. There are currently thousands of for sale owner homes available throughout the United States. An individual can view listings of available homes online.