By Owner 24-7 Frequently Asked Questions (FAQ)


Disclaimer: This is provided for reference only and is not to be considered legal, financial, or tax advice.

Homeownership remains one of the most sought after goals for many people because of its many benefits. Along with owning your own home comes a sense of security and belonging that cannot be found anywhere else. For many homeownership represents personal and financial success. There is much personal satisfaction in living in a home that you own. A home is still a valued investment which can have many financial advantages and tax benefits. Interest and real estate taxes are among the few major federal tax deductions. Owning a home is the primary way most people build wealth.


Q. What is the very first thing I should do before I start looking for a home?
A. The very first thing you should do, if you do not have all cash, is to get pre-qualified. We have made that easy through our affiliation with Americas First Home Mortgage Company Incorporated. (www.americasfirsthomemortgage.net). They do business with CitiMortgage, Countrywide, Chase, Wells Fargo, SunTrust, Wachovia, B.B.&T., National City Mortgage, U.S. Bank, and M & T just to name a few. They will issue you a prequalification letter once you have been through that process. If they can’t get you a mortgage they will work with you to help you get qualified.

Q. What is ByOwner24-7.net?
A. www.ByOwner24-7.net - For Sale By Owner is a listing of homes and real property for sale. This allows people to sell and buy their homes and real property without having to hire a realtor and pay the 6-7% commissions. Many people across the country successfully sell and buy their homes through FSBOs. ByOwner24-7 is affiliated with FSBOMadison.com, one of the most successful FSBOs in the country. (See New York Times article of June 8, 2007.) We are local. We’re not a national website. We specialize in Metro Atlanta, Georgia FSBO listings. You are not competing with listings all over the country when you deal with us.

Q. Are the listings on your site also on the MLS?
A. No. Our property sellers agree to keep their properties off the MLS While listed here. This guarantees that you won’t pay an inflated price to compensate for agent commissions.

Q. Do you provide real estate forms?
A. Yes, you can access them by clicking on Real Estate Forms. We have done this as a convenience, and we do not offer any legal, financial, or tax advise.

Q. What are the steps in buying a house?
A. Once you have been pre-qualified you can simply call the seller and schedule a time when you can come view the home. They will be more receptive to you knowing you have taken the steps to get prequalified and have a prequalification letter.

Q. Since I am not working with a realtor, is buying a home hard?
A. Absolutely not. It is actually much easier to buy a house without a realtor. You are cutting out the middle man so you can negotiate directly with the seller on the price, seller paid closing cost, items included, etc. You won’t be wasting your valuable time on waiting for offer and counter offers to be accepted or declined.

Q. Do I need a house inspection?
A. Please read our articles on home inspections. This will give you all the basic information you need. Once you get a house inspection, if there is anything that needs to be fixed, you can negotiate with the seller on what they will fix for you prior to closing or possibly take a lesser price for the home so you can make the repairs yourself.