Interested in buying a home for sale by the owner? The only thing to remember is that the people selling them are just like any other seller — only more so!

What sellers want: To make the most they can
For sale by owner (FSBO) sellers figure they can save money by not paying a commission to an agent. Contrary to what many buyers believe, however, this doesn't mean the FSBO seller wants to pass any of those savings on to you.

In a hot "seller's market," when homes are selling at or above the listing price, the FSBO seller has even more incentive to pocket as much of the sale price as possible.

All sellers want every penny of the asking price
FSBO sellers often set that price by looking at listing prices in the area, not at comparable actual sales prices. As a first-time buyer, you should be armed with good comps when you enter negotiations.

If the housing market is slow in your area, even a FSBO seller should be willing to negotiate. With a set of comps in hand, you should feel comfortable making an offer that might be well below the asking price. Make your case using sold properties – not homes currently listed for sale.