House hunting, regardless of whether you’re buying from an agent or from a for sale by owner seller requires patience and stamina. You will be a very lucky home buyer if the first house you see if your dream home and you successfully secure it. Approaching FSBO (for sale by owner) sellers is the same as approaching real estate agents. You need to know what you’re looking and be prepared to make an offer if you’re serious about the property.

Private home sales differ in no way to agent sales. You will still need to conduct a thorough walk through and ascertain if it is the home for you. FSBO sellers are usually a little more open to detailing features or faults of the home so it is wise to ask as many questions as you can.

House hunting in general takes a lot of preparation. Here are some tips to ensure you don’t burn yourself out in the house hunt race.

  1. Decide on a location. You don’t have to be strict and only stick to one suburb or precinct, but having a broad idea of the area you want to live in help immensely in finding your dream home. Also choosing a location that is accessible to work, school or other areas of interest is vital.
  2. Create a shortlist. Knowing what you want in a home is important. Devise a list of features, what you want in a home or apartment, the areas you will be focussing on, future family growth expectations etc. and try to find a home that can cater to all these needs.
  3. Research extensively. It is one of the simplest tasks to carry out yet one of the most over looked. You can never have enough research on the area, the local community, the recent house sales prices, the median house sale prices, the expected market price or even the history of your desired home.  Knowing what you’re in for is the best way to avoid a bad purchase.
  4. Seek finance preapproval. This is often an intimidating aspect of buying a home however the sooner you can gain preapproval for your mortgage the more seriously you’re going to be taken as a buyer. If you have a preapproved mortgage and you make an offer on your dream home, you will be more highly regarded than those applicants without preapproval.
  5. Be a serious buyer. Going to an open house and auction of a property you desire, you have to be prepared to make an offer. If you’re not serious about making an offer than don’t waste vendor’s time by asking questions and laying the ground work. Don’t be intimidated by the prospect of buying a home. Prepare yourself to make an offer of your desired home and stay persistent until it has followed through.

By following the above steps buying a home, either from an agent or a FSBO seller will be much easier and less stressful. Trust your instincts and always over prepare.