For Sale By Owner
Started by ChelseaApt
over 18 years ago
Posts: 5
Member since: Mar 2007
Discussion about
Have been looking at 1 BR apartments all along the west side for the past few months (mostly going to open houses) and have started to wonder about listings for sale by owner. Do they exist in NYC? Can you really save a few percent by going through the hassle of finding one of these? Where do you look?
You can find a few through NYT and Craigslist, but I suspect with the hassle and complexity of the co-op application process, most sellers defer to brokers to deal with that.
the best way to find FSBO is to walk around the neighborhood you are interested in. walk into the buildings you are interested and ask the doorman is anyone is selling. they usually like to help building apartment owners. most of the time they will refer you to a broker, but occasionally they will know someone who is thinking about selling and you could catch them before they list.
I am selling my apartment via FSBO. I advertise it in realestate.nytimes.com and New York Times Sunday paper. I also recently purchased an apartment without buyer broker. I found the apartment at streeteasy.com the first day it was listed.
Why does someone use a buyer broker?
see 2Brokers comments
#4 here. My experience is: half of people came by themselves, and half came with brokers. I got three offers: the first one came directly to me; the second one is broker and buyer; the third one came with a broker. They offer me pretty much the same price, but I have to give the priority to the first one because I don’t have to pay commission to a broker.