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HOW
THE FSBO Registry
@ ez-fsbo.com WORKS
| The
FSBO
Registry
posts homes on our website and helps the Seller with marketing
and sales help. The Registry
also answers any procedural questions
Buyers & Sellers may have about purchasing a home up until
it is time to write the contact and then, by law, our
Lender
Partners must
take over. The
Lending
Partners help
with contract questions plus coordinate all financing, inspections,
attorneys, surveyors, appraisers, title work, document recording
and closing aspects right up to, and sometimes beyond, closing.
This gives you professional assistance
every step of the way! |
We
also have Closing Partners who
step in and assist the Lender Partners
with the smooth transition of title transfer and closing of your
loan so we've got you covered every step of the way!
We
feel that buying a home should be fun and exciting not nerve wracking
and ulcer producing so ez-fsbo.com
strives to give you the necessary information and personal assistance
needed to make your purchase easy.
The
FSBO Registry gives you the best
of both worlds - the information and assistance of a Real Estate
Professional coupled with the responsiveness and freedoms of working
with a For
Sale By Owner!
There
is NO COMMISSION that has to be factored
into the selling price so you will always find the very lowest
sales prices!
An
added bonus is that because there is no commisison many of the
Sellers will pay all or a significant portion of your closing
costs!
There are really
2 different aspects of our services.
The ez-fsbo.com
side of our site tells you how to go about buying a FSBO, securing
financing, and explains the paperwork and closing.
The
Registry side includes
a lists of homes that are currently available. Something you won't
find anywhere else is the fact that many of these homes have already
been fully appraised with a real appraisal, not a market analysis,
so you can rest assured you are not paying too much for those
homes.
You
will find only real FSBOs on our site. If you find a home listed
with an Agent or find the owner is an active Agent please contact
us and we will remove that home immediately. We strive
to keep our records current so we would also like to know if you
find a home that has been sold or is off the market.
We'd
rather have a smaller, more accurate list of homes actually
available at this very moment than a bloated list of homes
that sold months ago. Most FSBO services (if they aren't really
Agents in disguise) have ulterior motives and are only interested
in making contact with you so they can get your personal information
and sell it to Agents so they keep homes on their list sometimes
for years after they have sold.
We
DO have an ulterior motive also, but it is a win/win situation
for both you and us alike.
We
will give you the info needed to make it easy to buy or sell a
home in the hopes that you will use our Lending
Partners and Closing
Partners. Basically we are trading you
our help and assistance for the chance of doing your loan and
assisting with the closing.
A
win/win situation and very equitable trade indeed! No
one benefits at the expense of anyone else since there can be
no loan or closing unless you have found a home you like and can
buy it under terms you can live with. We
want buying a home to stay a worry free, fun and exciting experience.
The
Registry
is much more than just a website, you also have access to the
people behind the website.
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A
VERY IMPORTANT POINT:
The
FSBO Registry will
not sell or give your name, phone number or e-mail address
to Agents or other companies as is normal at other FSBO &
Realtor sites. This means you will not be bothered with sales
calls at all times of the night and day.
(Selling
your personal information to Agents & other solicitors
is the #1 income stream at many websites)
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Lender
Partners,
another way we help & protect you!
Since Financing is the number one reason Real Estate transactions
fail we strive to have at least one local Lender Partner that can
do the loan on every home registered.
National
figures say over 40% of all Buyers get almost to closing before
they discover they either cannot get the loan they desire or cannot
get a loan at all.
This means financing is much more important than you might have
imagined so our Lender Partners
are not your everyday, run of the mill mortgage companies!
To
be a Lender Partner they must
first be members of the National Association of Mortgage Brokers (NAMB),
the Texas Association of Mortgage Brokers (TAMB),
plus be active members of their local chapter such as the DFW, Houston,
Austin, El Paso, etc.
Dealing
with an Association member assures you of a high quality, ethics minded
lender. The Association has a very strict Code of Ethics plus members
must also pledge themselves to follow NAMB's "10 Best Business
Practices" and partake in continuing education. In general you
will find that Association members tend to be the more caring and
ethical lenders in a given area.
Association
membership also gives you an additional level of protection -
all Association members agree to abide by an Arbitration provision
in addition to the legal protections given under the state licensing
laws.
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Advisory
To
be able to make loans in Texas ALL Mortgage Brokers must have
a physical location in Texas and be licensed by the State of
Texas!
There are NO EXCEPTIONS to this law!
All
of our
Lender Partners
are licensed to do business in the State of Texas!
While that may not sound like a big deal- it is! Most Out of
State and Internet lenders aren't licensed to do business in
Texas and therefore cannot actually close loans in Texas.
Many,
many would-be borrowers have sadly discovered this only after
they have gotten almost to closing. Not only do they lose the
house they are trying to buy, but they also lose all the money
they have paid these lenders. Often times these Lenders have
charged a large application fee in addition to excessive fees
for the credit report and appraisals.
"Bait
& Switch"
- the quoting of below market rates they know they cannot
deliver to entice consumers to do business with a faceless
entity, is usually an integral part of these Internet scams.
After all, what else have they got to sell, it certainly
isn't convenience or service. Many times those companies
only REAL cash flow is the large application fees. Like
the Post Office says, "If it sounds too good to be
true, it probably is."
Because
of the way mortgage money flows there are no "economies
of scale" that would make an Internet lender any cheaper
than the Lender around the corner from you.
The
Texas Savings and Loan Department would love to know about any
less than ethical out of state or Internet lenders you encounter.
Help protect other consumers from these abuses. You may contact
the TSLD at (877) 276-5550 (you cannot file complaints online)
To
protect yourself always ask for the Lender's license number
- especially if you can't visit their office (a physical
presence is just ONE of the many requirements to be licensed
in Texas). You can check to see if the Lender & Loan Officer
is licensed by going to http://www.tsld.state.tx.us/mbsearch.asp
For
the most protection only do business with Lenders who are
members of the:
National Association of Mortgage Brokers (703) 610-9009
(NAMB)
Texas Association of Mortgage Brokers (512) 708-0611 (TAMB)
and
your Local Association of Mortgage Brokers. For example the
Dallas/Ft. Worth Association of Mortgage Brokers (DFWAMB)
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Our
Lender Partners know there
is no Agent or other "control person" involved
in your transaction so they have committed to go the extra
mile and help you in ways you might not normally associate
with the average Lender. If they are doing your financing
they have the ability to help coordinate all activities
from contract to closing. Our Lender
Partners have great
rates and you won't have to worry about bait and switch
practices.
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HOW
TO GET THE SELLER TO PAY YOUR CLOSING COSTS!
A
lot of the FSBO
Registry
Sellers are offering to pay a significant portion of the
Buyers closing costs if you use one of the Lender
Partners.
How can they afford to do that?
For
one thing, the Sellers aren't paying an Agent's commission,
but let me explain a little bit of the mechanics of the
Seller's side of the FSBO Registry.
Sellers
pay money to be listed on the site. If the Seller uses one
of our Lender
Partners
for the financing of THEIR new home they get some of their
money back.
If
the Buyer also uses one of our Lender
Partners
for their financing the Seller gets more of their money
back.
This
partially funds the payment of your closing costs but more
importantly since the Sellers are also using a Lender
Partner it means the Sellers have first
hand knowledge of the thoroughness, professionalism and
work ethic of the Lender
Partners.
They trust the Lender
Partners
to do a good job on your loan as well.
Another
very important plus is that it will also be much easier
to coordinate both closings. This comfort level is why many
Sellers will offer to pay your closing costs in the first
place.
National
figures say over 40% of all Buyers get almost to closing
before they discover they either cannot get the loan they
desire or cannot get a loan at all. Our
Lender Partners
have pledged to do everything in their power not to
allow this to happen to you! They
are the cream of the crop and exceed the national norm for
work ethics and loan approvals.
You
are free to use any lender you like, but if you don't use
a Lender
Partner
not only will you will lose the opportunity to have some
or all of your closing costs paid for you but you will also
not have anyone to help you with the contract or hold your
hand and step you thru the toughest part of the transaction.
You will have to know how to do everything and DO IT ALL
BY YOURSELF!
Many
Sellers are not willing to take that risk!
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HOW
TO GET A CONTRACT
Our
Lender
Partners
have furnished most of the Sellers with a copy of the state
promulgated contract along with detailed instructions.
These
contracts have already had the basic information inserted
(Seller's name, address, legal description, Title company,
etc.) so that it will be quick and easy to complete. Basically
all that is needed to complete is your name, the earnest
money, how much you want to
put down, and when you want to close.
If
you use one of our Lender
Partners
for the financing of the house they will help you with the
contract and help coordinate everything that comes next.
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| Periodically
we have added special information to further enhance your
home Buying or Selling experience. This special information
is denoted by the following icons:
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| Notes
provide additional or critical information |
Tips
provide the extra knowledge that separates the novice
from the pro |
Advisories
are warnings of a potential problem or pitfall |
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Share
your experiences!
Tell
us how the
For Sale By Owner Registry helped
you find a home.
Tell
us how we made it easier or simply compare working with
us vs. working thru an Agent.
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