Atlanta For Sale By Owners - Are They Really a Good Deal?

Many buyers think that the reason an Atlanta For Sale By Owners (FSBOs) is a great deal because you can save the commission from the listing agent...most times they are not!  Most Atlanta for sale by owners tend to price their home over market - at a higher price than those that are listed with a full service real estate companies!  How do they get away with it?  Well for the most part their buyers have no representation, and perhaps they are from out of state and don't know the ins and outs of Atlanta real estate.  They tend to make the fatal mistake of looking at a home with "Out-of-state-eyes!"  That means the potential buyers say "Gee this house in Chicago or Boston (Name your town here) would be twice this price!  The only problem is this is Atlanta and that home here does not carry a Boston or Chicago price and may never!

The next problem for and Atlanta home buyer is what and where to buy?  If we were talking about Manhattan New York a studio on Park Avenue may go for 2 Million Dollars but in an adjoining county  the studio may only be priced at 200K.  So the same is here in Atlanta.  Prices of homes are dictated where they are located at!  Remember location, location, location?   You should never forget it!  Because it applies to school districts and county or citiy services!  The further out the home, and the longer the commute the homes should be a lot cheaper!  Many times with a for sale by owner they tout a location they do not have like Forsyth County, and the for sale by owner will say "Alpharetta address, but low Forsyth County Taxes!"  What does that mean?  It means you are about to be screwed!  First of all one area has much more services, and better schools and schools scores.  The other home is in another county all together, and may be physically near the other, but has a completely different set of county services and amenities.

Disclosure is also an issue. There are a lot of Atlanta homes we go out on on listing presentations that have structural issues that are easily identified.  Sometimes there is termite damage, problems with the siding (LP, GP, Masonite, EIFS) that have to be disclosed.  Other times there are issues with plumbing or zoning.  Some sellers do not want buyers to know there are issues, and do not want them disclosed.  That isn't right adn we will not list those homes!  In Georgia it is not required by state law for a seller that is selling a home on their own behalf to disclose anything.  Only Georgia Association of Realtor contracts (You must be a Realtor Member to use) are they required in the boiler plate contract!  The reason so many homes and especially EFIS or synthetic homes are not listed with a Realtor is that they do not want to disclose!

There is also one variation of the Atlanta For Sale By Owner concept.  Many FSBOS will list their homes to be placed into the MLS for a fee only.  This allows them to have the visibility of an MLS listing, but they are unrepresented sellers.  In effect you are dealing with a For Sale By Owner, because when you go to negotiate with the seller you are negotiating directly with the seller on an over priced home.  The only difference is they have to provide a GAR Seller Property Disclosure form.

Drawbacks to buying a For Sale By Owner:

• Higher Marketing Price
• Disclosure
• No buyer representation advising you on: price, comparables, condition, location, and negotiations.

Atlanta Homes for Sale

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