PropBox Makes Buying a Home Easy by Simplifing the Process.

Dear Monty: We recently got to know a couple who purchased a house directly from the owner. They managed to do this online without using a For-Sale-by-Owner (FSBO) website. Initially, they tried using an FSBO site but quickly realized it was merely a lead generator for real estate agents. They also mentioned that many do not disclose the buy-side commission. Instead, they turned to the internet to circumvent the agents. They explained their process to us, but we’re not tech-savvy and need help. Please guide us through the process for the less tech-savvy buyers.

Monty’s Answer: Purchasing a home directly from the seller, even without significant technical knowledge, is entirely feasible. However, depending on your grasp of new information, it might require a few hours or more. It might also necessitate some investment to acquire the best tools to increase your chances of success. The upside to buying direct from the seller is that you have more control and can save tens of thousands of dollars. There’s a caveat: the seller might be avoiding agents for reasons other than just wanting to save money. Home sellers and agents drew complaints from home buyers for cheating them and inspired the creation of the home inspection industry for protection decades ago.  

  1. Almost all articles and videos were agent-oriented when researching for information. Two real estate investors on YouTube, Ariel Herrera and Chandler Smith, had different ideas about buying directly from the owner. Both are helpful, but Ariel’s was too fast, and Chandler’s was too long, and he felt a bit manipulated and salesy but with intelligent ideas. The music is loud, so turn down your speakers. 
  2. The template has a home-for-sale section that includes a separate FSBO section. Most cities in the U.S. have a local Craigslist website. Here is a sample using Nashville, TN. Typing our sample address into your search bar will result in a results page like this: Now you can learn what they paid for the house and how long they have owned it. Scrolling down search results, according to a link from Been Verified, the last sale price was $156,000. The price suggests they have lived there for years if all this information is correct. Poking around in all the search results will reveal a lot of information. Zillow says the house is not on the market (an example of conflicting information or the FSBO doesn’t know how to use Zillow). 
  3. Many municipalities have embraced technology to share with the public. Doing so relieves municipal workers of consumer inquiries and allows them to focus on their core duties. You search for “<city name>GIS,” and you will find helpful information. For example, searching for “Brown County, Wi, GIS,” this result appears. There are various choices, but the GIS map is in the upper left-hand corner, so clicking it brings us here. After accepting the disclaimer, the search bar that says ‘Fetch address here” is in the upper left-hand corner, and entering an address there will link to the property map and a very robust list of layer features you can add. Not all GIS software looks this good. There are different GIS vendors that municipalities deploy. You will look in one city and likely one neighborhood.
  4. PropBox is building a new alternative where home buyers avoid the risks that that have plagued the industry for decades. Chandler Smith’s approach, without the manipulative and salesy part is accurate. Working directly with the seller and getting to know each other reduces misunderstanding, opens communication, and builds trust. Both parties are working together toward a common goal – a successful closing.

 It will take you only a short time to be proficient. 

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