For Sale By Owner Advice. Find out why Caveat Emptor (Buyer Beware) applies to some FSBO homes.

Hendersonville Tennessee Real Estate

Don't spend a PENNY 'til you call JENNY!

Scam Targets For-Sale-By-Owners

This scam targets people who try to sell their homes without real estate agents. The scam comes into play after a seller gets an offer.

“All the scams have the same thing, in that it's someone you don't know sending you money, asking you to send money back,” said Cindy Harding, a vice president and bank fraud expert.

Police in Sugar Grove, Ill., say two residents were targeted after listing their homes on forsalebyowner.com. They each received an offer, the scammer sent a large check as a down payment, then instructed the homeowners to send a portion of that money to a real estate broker. The problem is, the broker doesn't exist and the down payment check turned out to be a fake.

“Anyone can make a check look like whatever they want, so it’s no big deal to give people a piece of paper that's worthless,” said Harding.

There's an easy way to avoid falling victim to this scam. Jim Bolin with Carol Jones Realtors says you should never conduct a real estate transaction without a contract.

“It could be letter of intent, where there is an amount of money deposited in an escrow account that will be held under laws of the state until closing, but you'd never accept money up front and hold money yourself,” said Bolin.

And whether you're selling your home or something much smaller, Harding says always be suspicious.

Please be careful!

And remember . . . Don't spend a PENNY 'til you call JENNY!

For Sale By Owner Advice

Are you wondering if the For Sale by Owner (FSBO) route is for you? Jenny Markham is glad to provide advice. Find out why Caveat Emptor (Buyer Beware) applies to some FSBO homes.

BUYERS, although there are some good values in For Sale By Owner Homes, many of them are vastly overpriced, some by $10,000-$30,000 or more. To be honest, there are also many over-priced real estate listings!

Can you differentiate between For Sale by Owner homes listed at fair market value, modestly over-priced, or greatly over-priced? As a Buyer’s Agent, Jenny Markham can help you negotiate a fair price, protect your interests, and remove emotion from the equation with a comparative market analysis of the home you wish to purchase. The best part is that Jenny’s services usually do not cost the buyer any money. Additionally, your interests are protected when you work with Jenny.

SELLERS, are Buyers not finding you? As a successful For Sale by Owner before becoming a Realtor^®, Jenny is uniquely qualified to assist you in this process. If you are selling FSBO, there are some questions you might consider asking before listing your home on a FSBO internet site.

v Do the For Sale by Owner sites that you visit post their success rates regarding the number of sales-to-active listings ratio, and their listed price-to-sales price ratio? If not, will they give you the statistics if you request them? If their figures are not provided, why would they hide information from you which is readily available to them?

v For Sale by Owner sites promise to save you thousands of dollars in Real Estate commissions but do they really? By nature, For Sale by Owner - FSBO - shoppers are looking for bargains. Are you ready to be a target for low-ball offers? Do you know how to handle them when they come in?

v With so many For Sale by Owner websites, consider the monumental task that buyers face trying to find you!

v Why do most FSBOs eventually list their homes with a Realtor^® on the Multiple Listing Service (MLS)? One reason why is that the MLS marketing system is unparalleled for putting buyers and sellers together.

v Most buyers use Realtors^®, so marketing to Realtors^® is essential. Do you have a marketing plan in place for both Realtors and Buyers?

If you are thinking of selling your house For Sale by Owner, if you are thinking of purchasing a For Sale by Owner home, or if you are looking for more information before you make your decision, who better to contact than an experienced FSBO? As an experienced FSBO, Jenny Markham respects and supports the seller's decision to sell privately when they have made an informed choice.

For great service, honest answers, and no obligation to list, contact Jenny today, or download some of her resources in the Home Buying and Home Selling sections.

For more details on the services Jenny offers Sellers, please see Seller Advantages.

FSBOs Still Falling Short in Sale Price

Despite the ever-growing number of web sites designed for “do-it-yourself” home sellers, the 2004 National Association of Realtors Profile of Home Buyers and Sellers shows that the level of for-sale-by-owner (FSBO) transactions hasn’t changed since 2003. Only 14 percent of owners sell their homes without the assistance of a real estate professional, and since 32 percent of those individuals know the buyer in advance, only about two-thirds of FSBO transactions are placed on the open market.

NAR’s study reveals that the sale price of FSBO homes lag behind as well. The median selling price of homes sold directly by the owner is 15.4 percent less than agent-assisted transactions – a loss of more than $29,000 on a home priced at the current median of $189,000. By trying to save the typical real estate agent’s fee of 6 to 7 percent, these sellers sacrificed over twice that amount.

In addition to problems with getting the right price, the survey also found that the biggest hurdles faced by FSBOs are preparing the home for sale and completing the necessary paperwork. Only half of recent FSBOs said they would probably sell their current home without the help of an agent in the future.

Article courtesy of Blake Johnnson, President

Advanced Home Funding

Brentwood, TN 37027

Office (615) 661-0710

And remember . . . Don’t spend a PENNY ‘til you call JENNY!

Hendersonville Tennessee Realtor



Jenny Markham
Email Jenny

Cell:	615-812-4174
Fax:	615-822-2027
Address:	1517 Hunt Club Blvd.
City:	Gallatin - Hendersonville
State:	Tennessee 37066

Tennessee License 292251

Scam Targets For-Sale-By-Owners

For Sale By Owner Advice

FSBOs Still Falling Short in Sale Price

Hendersonville Tennessee Realtor

Tennessee License 292251