Bad Credit? How to Buy a "For Sale by Owner"

Today's home sellers want all their money. It's nearly impossible to find a home seller willing to be your bank.

However, it doesn't hurt to ask sellers to help you. Home sellers who sell "For Sale by Owner" don't have to pay a real estate commission, so you're more likely to get help from someone selling FSBO.

Another way to get the seller to help you: ask for them to pay your closing costs. If you have a decent down payment, you can get mortgage financing. You may need to pay higher loan costs and interest rates, but you can get a home of your own.

Then you can work on improving your credit and refinance with a better loan.

(c) Copyright 2005 Jeanette J. Fisher

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