For sale by owner
For Sale By Owner or FSBO (pronounced "fizzbo") is a real estate term for the method where the seller directly sells their real estate to the buyer without using a real estate broker or real estate agent. The benefit is that the seller doesn't have to pay a commission to an agent. The property owner does this with the aid of an attorney
"Listing your home 'for sale by owner,' or FSBO, can save an average of $10,000 in real estate commissions. In 2005, over 2.25 million sold their home "by owner." Online FSBO options also are accelerating: In 2003, an astonishing 840,000 FSBOs used online listing services."[1]
"Using a broker to sell your home can cost you up to six percent of the selling price -- in other words, if you sell your house for $400,000, you can spend up to $24,000."[2]
Contents
Are Real Estate Agents Required?
"No law requires you to hire a real estate agent when you sell a house. Some states, however, particularly in the eastern half of the country, require a real estate attorney to handle the transfer documents and closing. Check with your state department of real estate to find out whether an attorney is required in your state."[3]
How to List Your Home for Sale
Get help from FSBO websites. If you're interested in going it on your own, check out sites such as http://www.owners.com or http://www.fsboguide.com.
See also
External links
- NOLO Press For Sale by Owner in California
- For Sale by Owner Kit ebook on Amazon.com
- FSBOthatWorks.com Free Required Legal Document Templates
References
- ↑ https://www.amazon.com/Sale-Owner-Kit-ebook/dp/B002T7DE3W Accessed January 1, 2015
- ↑ https://www.amazon.com/Sale-Owner-California-George-Devine/dp/1413319874. http://www.nolo.com/products/for-sale-by-owner-in-california-fsbo.html Accessed January 1, 2015
- ↑ http://www.nolo.com/legal-encyclopedia/real-estate-agent-sell-house-30259.html Accessed January 1, 2015
