When people sell their home without a real estate agent, they call it a “For Sale By Owner” (FSBO) sale. Many New Hampshire sellers choose this path to save money on agent fees. However, when buyers deal directly with the seller, they face risks. They need to know what to watch out for before they sign any papers.
Why FSBO sales can create problems
In an FSBO deal, buyers talk only with the owner. Without an agent, buyers may not know whether the price is fair or whether the home has hidden problems. It may feel like the seller controls the information, but buyers can take control by doing their own checks. A buyer should hire their own experts. This includes:
- A professional home inspector to check for repairs
- A title company to check if the property title is clear
- An appraiser to check the home’s actual value
Buyers must check all contracts, terms and deadlines themselves. One small mistake can cost thousands of dollars.
How New Hampshire law helps buyers
New Hampshire law protects buyers. Sellers cannot hide major problems they know about. The law makes most sellers give the buyer a written disclosure form. This form lists known facts about the property. It covers the home’s water supply, septic system, insulation and other known issues or defects.
A better approach for buyers
FSBO deals can work well in New Hampshire when buyers slow down, ask questions and get everything in writing. Buyers who prepare early protect themselves better before closing.