Not all "Deals" are Good Deals
In the market to buy a home and you want to "save" some money by purchasing a "for sale by owner" home? I strongly suggest that you read this article before signing any purchase documents.
Often times a "for sale by owner" seller will tell a potential buyer they can save them some money by not using a Realtor in the transaction. This can be a very dangerous proposition. A savvy Realtor has the knowledge and expertise to protect a buyer's best interests.
As you are already aware, there are dishonest people in our society. How do you know if the home seller that has offered you a "good deal" is not one of them? If you were to have to go into a court room to defend yourself in a case, would you do so without having your own professional representation?
Buying a home can be a very emotional experience and is probably the single most important financial investment of your life. Let a professional Realtor help you, protect you and guide you in your endeavor.
I like to think of this picture as a couple who just sold their home to an unsuspecting buyer. Hypothetically, their home was built on top of a toxic waste dump and they chose not to disclose this to the buyer's. They are very relieved to be free of this nightmare. They aren't worried about a lawsuit either because the buyer's already told them they were tight on money and know they cannot afford an attorney to fight back.
I've provided an extreme example of a peril of purchasing a FSBO. You may or may not encounter such an experience, but can you afford to take the risk?