Do-it-yourself sellers face questions about pricing, buyers

Do-it-yourself sellers face questions about pricing, buyers: "In the United States, only about 20 percent of home sales don't involve real estate agents -- transactions known as for-sale-by-owner, or FSBOs. Many such sales are between friends and relatives who don't need an agent to market the home.
The biggest advantage of FSBOs, of course, is saving the commission costs of as much as 6 to 7 percent of the selling price, traditionally paid by the seller. However, many buyers will expect a discounted price because they know there won't be a commission, and if they are represented by a buyer's agent, that agent will expect at least a partial commission.
Here are some of the possible FSBO pitfalls:
- Setting the optimum asking price. FSBO sellers typically don't know the market and don't have a handle on average sale prices for homes like theirs."
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Seller can reject a full-price offer

Charlotte Observer | 09/10/2005 | Seller can reject a full-price offer: "Suppose a prospective home buyer makes a full-price, all-cash purchase offer? Does the seller have to accept? I ask because a friend recently made such an offer and was told by the listing agent the seller wants more than the asking price. Is this legal?
Unfortunately for your friend, a home seller does not have to accept a full-price, all-cash, no-contingency purchase offer even at the full asking price specified in the local MLS (multiple listing service) listing."
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Realtor to limit online access

Rutland Herald: Rutland Vermont News & Information: "When you fish the Web for a house to buy, are you casting a wide net or merely dangling a hook? It's hard to know, and the National Association of Realtors has adopted a policy that keeps it that way.

The Department of Justice's antitrust division has sued the Realtors over the policy, calling it anticompetitive. The Realtors counter that the rule protects their clients' privacy.

The impact on buyers can be boiled down to this: 'You couldn't go anywhere online and see all the homes that are available,' says Patrick Lashinsky, marketing director for ZipRealty, a discount online broker based in Emeryville, Calif. It makes homebuyers 'beholden to the agent to see that property,' he says just as in the days before the Web."
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The HomeNet Responds to Consumer Demand, Upsets MLS Applecart

The HomeNet Responds to Consumer Demand, Upsets MLS Applecart - The HomeNet: "Just on the tails of a major announcement by Remax, new company The HomeNet marks a victory for consumers, and the first serious blow to current real estate MLS systems, by releasing the first generation of what is being called a Central Distribution Database, along with the first truly comprehensive property search tool meaning that users can easily find real estate available whether it's listed with an agent, for sale by owner, new construction, a foreclosure, or a rental."
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Don't Pay Twice for Your Home Improvement Project

First Coast News | Money - Don't Pay Twice for Your Home Improvement Project: "ORANGE PARK, FL -- Last year during Florida's busy hurricane season, a tornado damaged the Severson's Orange Park Home.

They hired Orange Park Roofing to replace the damaged roof.

'I paid him in full,' says Robert Severson.

Even though Orange Park Roofing was paid in full,
the shingle supplier, Gulfside, was not paid, and it created a problem for the Seversons."
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Why Homes are only "Bought" and Never 'Sold'

: "It was years ago, but the moment was unforgettable. Lee Brown had just returned from Italy, where he'd completed a tour of duty with the U.S. Navy. Stateside, he was searching for a house to purchase. One day, Brown's real estate agent pulled into the driveway of an average-looking place and declared: 'This is the house you're going to buy!'
Brown was so offended by the agent's presumptuous remark that it killed any interest he might have had in the property. 'I immediately didn't like that particular house. When someone tries to make you take an action, a defense mechanism goes into play,'"
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Stretching to Afford a Home in a Highly Prized Community

: "The contemporary home featured floor-to-ceiling walls of glass and three elaborate decks providing breathtaking waterfront views. Potentially, it was a jewel in a treasure-chest area.
But visitors quickly sensed something strangely wrong with the multilevel house, which clung to a steep hillside. Some of its windows didn't sit correctly in their frames. A few stucco walls had cracked. Moreover, the floors at the lowest level had a distinct slant to them. Obviously a structural problem plagued the house."
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