(778) 668-9320 scott.dawson@verico.ca

There’s pros and cons to selling your own home. I believe you should always hire a professional Realtor and there has been times in the past where I have helped clients finance a purchase of a For Sale by Owner (FSBO). While financing a FSBO is not impossible, it does pose some additional hurdles for buyers requiring a mortgage.

How do lender’s treat FSBO’s differently?

For many lenders private sales are on an exception basis. Typically, a full appraisal will be required for both conventional and insured lending regardless of loan to value.

What documents are required for FSBO’s?

Lenders will require full documentation from the borrower upfront before offering a mortgage commitment on a FSBO:

  • The Offer to Purchase (signed and witnessed)
  • All Addendums and waivers as part of the Purchase & Sale agreement
  • Income Verification
  • Down Payment Confirmation
  • Current Title Search
  • Full appraisal
  • Title insurance
  • How can I get more info on FSBO mortgages?

    For more information on financing a FSBO or if you are currently trying to sell your own home and would like a referral to a professional Realtor in your area please contact me

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