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."
"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."
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."
How to List Your Home for Sale
- NOLO Press For Sale by Owner in California
- For Sale by Owner Kit ebook on Amazon.com
- FSBOthatWorks.com Free Required Legal Document Templates
- 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