Q. Is FSBOWI.com a real estate agency? Do I sign any agency forms?

FSBOWI.com is not a real estate agency. FSBOWI.com is not an agent. You don't need to sign any 'agency forms'. This means that you won't be committed to any agent or for any fixed time periods.

Q. Can I do my own advertising also?

Yes, please do! Anyway that you can promote your property is a good idea.

Q. After I choose to advertise my property on the Internet with FSBOWI.com, how quickly will It appear?

We will setup a time at your earliest convience to take pictures of your home. Your house will be online within 24 hours after the pictures are taken.

Q. How will I get inquiries?

You should receive many inquiries from buyers:

• Potential buyers will see your FSBOWI.com yard sign
• Some could knock on your front door inquiring for more details
• Some will see your phone number in Classified Advertising
• Some will be referred by friends
• Some will see your internet listing and call you

Q. Does FSBOWI.com arrange appointments for people to view my property?

No. FSBOWI.com provides the avenues for buyers and sellers to find each other and then places the inspections in the hands of the people who know the property the best. You ,the owner, arrange your own inspection times.

Q. What forms will I need to fill out?

To make an offer, fill out a "Residential Offer to Purchase Form." This is a legal form you use to offer a purchase price and also describe the contingencies of the sale. Contingencies could include but may not be limited to financing, inspection, selling another house and so forth. This is a standard legal form used in almost every home sale, but you need to read it carefully and fill it out completely. You'll also receive a "Real Estate Condition Report" which provides details on various defects. (This report must be provided to you in any real estate transaction.)

Q. How do I secure payment?

Return the offer and an earnest money check. This is a check written out to the owners showing good faith in going through with the deal. The amount of the check will vary, but it’s typically no less than $1,000, and is often 1% or more of the purchase price. If you buy the house, the check is typically credited towards the purchase price. If the contingencies identified in your offer are not met, you will get your money back. However, if you simply have a change of heart or are no longer interested, your check will not be refunded.

Q. What happens after the initial offer?

If the initial offer is not accepted as is by the seller, a counter-offer will be made. Click here for a "Counter Offer Form". Sometimes, counter offers are countered as well. Both the offer and counter-offers spell out the various conditions of the sale, and must be adhered to. The contingencies will have deadline dates so neither party will be able to ignore them. If there's a problem in meeting one, however, both parties can agree to an extension. The contingencies are removed by filling out a legal form describing the action that's been taken. For example, once you obtain financing, sell your home, etc. that contingency is satisfied.

Q. How can I obtain financing?

Shop around for a mortgage. If you need assistance with financing or finding information on types of loans, rates, etc., take a look at these following websites: E-loan, homepath.com, Quicken Mortgage, Mortgage-Net. You also will need to provide proof of homeowner's insurance; your insurance agent will have the proper forms. (Comparison shop for insurance, too!)

Q. What does subject to inspection mean?

If your offer is subject to an inspection, you usually are responsible for making the arrangements and paying for the service, although sometimes it's negotiable. A list of home inspectors can be found in the yellow pages. Make sure you ask for references prior to using a home inspector.

Q. How do I close the deal?

The seller will make the arrangements for closing the deal, including title insurance, meter readings, etc.

Q. Who do I use if an agent or broker is not involved?

Often, the owner works with an attorney. The buyer may want to consult with an attorney or legal services agency. This does not need to be expensive, especially if you are organized before you seek advice. Write down a list of questions ahead of time and have copies of any pertinent documents with you. Your attorney and/or the owner's attorney also may attend the closing.