For Sale By Owner

something like "buyer beware"
make sure you bring your own inspection person and also do a background check on the home and it's history (flooding area, etc), check out if there are any liens against the property, and read all contracts carefully or have them reviewed by a real estate attorney

good luck

Yeah, FSBO can be fishy if you don't have an attorney on your side. Who knows what kind of a scammer the owner is?

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Metternich

If neither of you is using a realtor (and as a buyer, you SHOULD...no $$$$ comes out of the buyers pocket)..well...two old sayings come to mind...
"a fool and his money are soon parted"....
"any doctor who has himself as a patient is a fool"...
Here are the cons:
Poorly written, non-binding contract with loopholes and things in it that you may be unaware of, and surprised to find out..at closing...
Misrepresented: square footage, lot size, problems with the home, age of the home, tax parcel numbers missing or wrong, non-disclosure of HOA fees and dues (if any), home not priced right for the market (you almost always end up paying too much), no negotiation on price,
I could go on and on....
Pros: None that I can think of...
Go get you an agent...the SELLER pays any "commission"..not you...and you would do well to be represented...

most fsbo's do not know the laws of selling a house like a sellers disclosure, they also usually sell for the market rates of others in the neighborhoods which isn't really fair since there are no commissions involved, they should really find out the market for their house and then deduct a 6% off the price and they put on market.
if you are considering buying a fsbo you might get an agent to help you, they can contact the fsbo and ask if they would pay them a 3% commission and aloow a one time showing agreement. you really need someone to help (work for you)
and if you don't get an agenet please insist on getting house inspected and ask them for a sellers disclosure.