I've never bought a house before. There's one down the street that I like the looks of. We used to rent the other half of this duplex, so I know what it is like to live in the area.
It's FSBO and he has listed it at $250K. It's a duplex, 1,500 sqft, and it is very nicely upgraded and gorgeous inside.
There are 3 houses that have recently sold that are nearby:
A SFH that is split into two units, 1,900 sqft for $234K
A SFH, 1,800 sqft for $193K
A SFH, 1,800 sqft, but with a bigger lot that includes a driveway for $330K
I might be giving some useless info here.
My questions:
How does it work when you make an offer contingent on appraisal? Do sellers hate this and just want you to agree to a price?
Since it is FSBO, does the owner expect to pay a commission to the buyers' agent? What if there is no buyers' agent? (We aren't working with anyone. Can we use this as a negotiation tactic? Or is it stupid for us to try to do this on our own having never purchased real estate before?