Homes sold by owners are advantageous to both the seller and the buyer. If the home being listed sells for $ 200,000, for example, and the common commission rate ranges up to six percent of the sale price, then both the buyer and the seller can save $ 12,000, which is money. I would have used it for an agent’s commission. And if the homeowner spends a lot of time finding the potential buyer for their home instead of spending weeks or months looking for an agent, chances are they will get rid of their property in a shorter period of time.

There are several reasons why a person can sell their home. The owner may want to obtain financing for a new home, obtain a sufficient amount to finance the mortgage on the property that is for sale, or simply want to move elsewhere.

Homeowners who adopt the “for sale by owner” method of sale assume the role traditionally played by the bank or mortgage company. This process, when it is fulfilled, is advantageous for both the seller and the buyer. Naturally, homeowners contact real estate agents who will handle the transaction for them. But when homeowners manage the sale themselves, they can save on commission costs and also provide a good package for buyers who need to buy new homes but are struggling to obtain bank loans.

For myriad reasons, many people find it difficult to obtain bank loans due to the strict requirements imposed by these money-making lenders. They may have the funds ready in their pockets and have steady jobs to support the monthly payments, but they find it difficult to settle for a bank loan. With the sale of a home by the owner, the process becomes much easier.

Therefore, it is no wonder why homes for sale by homeowners are so highly sought after. If you are a seller, you save a lot of money because you never have to pay commissions. If you are a buyer, you can buy a home and lot without the terrible burdens of tremendous bank interest.