What's wrong with FSBO properties?

[Haven Latimer]

Hey guys, I'm new to real estate, so go easy on me! I'm just wondering why don't I hear many people pursuing FSBO properties for wholesaling? You already know that they're motivated to sell their home, so it's a warm lead. And you find them for free via Zillow, Trulia, etc. So, what's the catch?

[Jerryll Noorden]

I agree with everything above, and let me add this.

• Their first child is born in that living room = +$30K
• They build this UGLY raingod totem in the backyard = +$15K
• They added $315,375.05 in "upgrades" in a $104,466.03 average home value area and thus = +$400K
• 15 years ago, they bought the house for $400K and thus the house is worth X + $400K
• Land = $X, House = $Y thus everything is worth $X+$Y

FSBO (Florida Seniors with Bad Odor) are often uneducated on the market. Have no clue what it entails to sell or price the house, have super crocodile bath breath, have no idea what upgrades are worth, have no clue what items of their house brings value and what items do not, and what items actually reduce value (a crappy pool, a desperately needed to be torn down shed) etc. etc.

Although motivated sellers, they are in many aspects worse than a blind targeted lead where you have to argue and debate trying to convince them their house is really not all that!

Too much drama!