For the same reason they'd buy a home listed on the MLS ---- because they like the home and it's priced at a point they're willing to pay for it.

Tony,

Because they can?  Seriously,  the buyer may be a real estate attorney who feels perfectly comfortable doing that.  I have seen it happen.  A

If it is a cookie cutter house where comps are readily available, and it is in a desirable area, why not?   I've sold 3 of my own homes and one condo which still holds the record for the highest sale price in the building :)  Not all Sellers need Realtors.

I'm not sure what they think but I always try to remind buyers they are FSBO for a reason & it's not for your benefit.

Some sellers think they can do a better job because they are in sales. Others don't want to pay the commission because they will be upside down.

As often as not they think they are getting a better deal.

"to get a deal" ....and a train wreck.

They think they are being so smart and don't need an agent and dealing direct they will get it below market at a real deal of a price.

They think they are saving money.

That is typically the assumption, but we all know that FSBO sales do  not necessarily result in  the buyer paying less.

There are a million reasons, but the big 3 are:
1. They want to be fooled by incomplete or misrepresented disclosures.
2. They want a lousy deal with a seller who won't/can't negotiate.
3. They think they are smarter than some greedy used car salesman agent.

Okay, snark aside . . . there are a million reasons. Usually they like the house and want to buy it. 

That's simple.  They THINK they are going to get a price because no realtor are involved

Because they feel they will get a lower offaccepted because the seller doesn't have to pay a commisiion.

If I represent a buyer I don't mind working a FSBO since I have negotiated over 2000 homes and usually they are at zero. I been able to get some good deals for clients.

Because their friend and blog mates told them how easy it was...AND....

without all the real estate agent BS.

They ARE risk oblivious. For them, that is part if the fun.

As NAR, the local association, regional association and broker are hell bent on eliminating agent options, the BS just keep piling higher and higher.

Mean while consumer options get easier and easier.

Perhaps they think they will get a deal. The joke is it doesn't normally work

Great question = and the reverse is true for the sellers. 

Good morning Tony. On the mortgage side, I cringe when someone comes to me that is buying directly from an owner without being represented, half the transactions never work out.

actually my daughter just got a great deal on a FSBO.  It was the perfect house for her

Very good question Tony Lewis 

They think somehow they are getting a better deal cutting out the realtors

Price is right, both parties know what they are doing.

Tony Lewis - the same reason for the seller is selling the home - to save money, in most cases.

Often times a buyer will do this because he/she thinks it's a better deal. Now the appeal of the home is also another reason. I've recently had two of my buyers call me about a FSBO. They don't want to cut me out, but the houses seemed to be what they wanted, and they wanted me to show them the homes. I obliged. The sellers were all very nice, too, and willing to work with an agent. 

I would say because they do not understand the advantages of using a Realtor and the disbelief that they will save money not using a Realtor.

With the assistance from an agent ... why not?  It might be the FSBO has the perfect home for them. 

 They must think that they are saving money.

My first three thoughts are:  Past problems with a realtor (so they all get lumped into 'one category'), they are not in a hurry so they can ask a price that they want (may not be realistic for the comps), or get a cheaper price (no commissions for either side) Tony Lewis.  I'm sure there are some FSBO's that are quite savvy, so they are not all 'created equal'.    

I have come across a few people who have gone in this direction because they feel a certain level of mistrust when it comes to Realtors. There are people in the industry who affect our perception in a negative way.

The other part is the prevailing perception that they might be saving themselves money. The inherent risks would outweigh the rewards in my opinion. 

They think they can get a better price. 

Several good answers ahead of mine.

buyer does not know any better

Tony,

I am all for them, if the seller/owner wants to try, cheers to them:) Some have done very well and congratulations. There is plenty of owners who need my services.

Some savvy buyers think they will be able to save money without paying commission.

Because they like it and think they are getting a deal!

Maybe there is nothing else on the market in their price range and with the features that they are looking for in a home.

John Meussner has this one

Tony Lewis The problem isn't buying the home, but getting it to the closing table. Hopefully, the buyer is represented.

Sometimes it is a feeling of eliminating the middleman, sometimes it is a matter of low inventory forcing them to step beyond what the agents are offering.

parked and reading

they think they're saving a commission!!! they miss many opportunities to negotiate a good deal not only with price but with terms and conditions....

It's an option as in because they can.  

Consumers don't have a bias against For-Sale-By-Owner homes, Realtors do.

If the house fits their needs, and they can negotiate a price they're comfortable with... they'll buy it.

Maybe they have not found an agent that they trust.

They think they are doing it to save on our "huge" commissions. They may also really like the house!

To get a good deal.

Same reason one would purchase a car from an inidvidual.

If the price is right and they do their due diligence, why not?

Some savvy buyers are very confident about their abiity to handle there own deals, rightly or wrongly. They don't want to pay an agent a commission.

Some people can make the deal they want without representation.

In the past two weeks I have written offers on two homes that are FSBO.  Why would a buyer do this?  Because it was the only house they found that met their needs!  I negotiate with the FSBO to pay my success fee and we are good. As a buyer agent I make sure the price is at market value, plus if the buyer is getting a loan they are protected by the appraisal.  In our area we have alot of brave sellers who are still trying to get out from under the fallen market and they can't afford to sell if they have to pay a listing and buying agent.

I have worked with a few who were willing to work with an agent. One was actually an agent who was licensed in another state. 

less competion... easier by paying a prcie not contested.

If I were a normal Buyer, I would need a Real Estate agent to do my negotiating.  After all the sellers are who pays the commissions.  If the FSBO won't work with a buyer who has an agent, then its off to another house.

It may be the home that the buyer wants.

As all have said it is the home they want! Just have a buyer's contract in hand before they go shopping.

Price, location, and condition.I see many FSBO's get sold without any problems. It's not hard to determine values. there are title companies here that advertise, " If you're buying without an agent, we can help with the contract and settlement".

I have seen it happen. If someone is comfortable with dealing with the seller. I don't think it's in their best interest but it's ultimately is their choice. They, of course, think they are getting a better deal.