Agents are not mortgage professionals. For Sale By Owner's participating lenders can provide the answers for both you and your buyer. People who sell by owner expose themselves to lawsuits. This myth is spread to intimidate people who sell by owner. Whether selling by owner or through an agent it is always advisable to consult with a real estate attorney over any legal concerns.
People sell by owner because they are greedy.
The principal portion of the mortgage payment is minimal even after 5 years on a 30-year loan, and appreciation cannot always be counted on. If you have owned your home for only a few years, most of the equity is from the original down payment. Buyers think that the reason people sell by owner is because their house has flaws, is overpriced and no agent wants the listing. Buying and selling by owner is a continuously growing trend in the home ownership process. Buyers are very savvy and are quite capable of checking things out for themselves.