|FSBOs don't sell for a number of
Julie Garton-Good, GRI, DREI
there something wrong with a property if a for-sale-by-owner has been trying to
sell it for six months?
necessarily. There could be other factors, not always negative ones, leading to
an unsold property.
Perhaps the sellers did not aggressively market the
property. A for sale sign in the yard doesn't constitute a strong marketing
Second, was the property priced right to begin with? An
overpriced property will be initially discounted by buyers, even if the asking
price is later reduced. Restrictive terms might also have kept the property from
Third, did they have any offers on the property? Perhaps
they took the property off the market for a potential offer that never
Fourth, what type of market competition does the property
have? Are there many similar properties for sale in the neighborhood? Depending
on the real estate economics of the area, as well as the time of year, six
months may not be unusual.
If you still have questions, ask for outside assistance to
determine value and stability of the property. These facts might come from an
appraiser, inspector, or other real estate professional. You might negotiate
with the seller to help pay for any or all of these items.