A buyer's guide to land for sale by owner

There are a number of advantages to buying a business or a house directly from the owner. The most obvious one is dealing directly with the seller rather than business brokers or real estate agents. This article will take you through the advantages of buying land for sale by owner.

Dealing with the owner

It is much easier to trust the property owner than it is to trust an agent who has a financial interest in selling the property to the highest bidder. The owner of a property is less likely to deceive the seller, so a potential buyer is much more comfortable dealing with him. If you have the owner in front of you, it is easy to ask why he is selling the property and to gauge his answer for yourself. If you have an offer in mind, you can get an immediate answer from the buyer rather than having to wait for the agent to get back to you. Queries Of course, if you have any questions about the land, house or business you are interested in, it is more likely to be answered honestly and with authority by the owner. Before you inspect any property, it is a good idea to phone or email the owner and ask for any pictures of the house or land that are available. This practice could save you wasted inspection and travelling time.

Value for money

As a buyer, you probably have heard that you will get more value for your money if you buy from the owner of a property. Even if you find the cheapest house in the area you want to live in, the price you are paying will be for the property itself, and not for the agent's commission. Additionally, the owner is familiar with the costs associated with owning the property, such as utility bills, council rates and the cost of maintaining the property.

Online help

There are websites that can help you with buying property directly from the owner. One is Forsalebyowner.com which has a guide to buying directly, which contains advice on matters such as getting an evaluation report on the property and hiring a lawyer to guide you through the process. Forsalebyowner.com is an American site but there are similar sites in Australia and Ireland. If you are interested in overseas homes or business premises, you can search at Forsalebyowner.com (search International homes for sale by owner).