What is FSBO and does it save me any money? Well, FSBO stands for “For Sale by Owner”, affectionately called in the industry a “Fizbo”. This is how people sell their own homes, whatever money they save would be in the form of a real estate commission. Whether or not the realtor can market the property for more than what their commission would be, since they have the ability to market online, they have the ability to put it in multiple listings, a realtor may actually net you more money. Their usual real estate commissions run about 6 to 7 percent.
However, if you are going to sell the house yourself, you do not need a realtor and you can do your own marketing. The old-fashioned time was to put a For Sale sign out in your yard that says, “For Sale by Owner” and put your phone number on it. Then you have the ability to sell the house yourself.
Once you have a buyer well then that would be a good time to contact my office and we would be please to prepare the contract between the buyer and the seller and take care of the closing. Customarily the seller pays for the title insurance and the documentary stamps on the deed. We’re seeing more and more seller financing, so if you’re trying to sell your property, and in these times it’s hard to get a bank loan, well we can certainly assist you as far as preparing the note and mortgage or holding the financing. But FSBO stands for “For Sale by Owner” and it’s known in the industry as a “Fizbo”.
So if you want to sell your property on your own, give me a call at 727-847-2288 and I’ll be glad to tell you what you need to do when you have a prospect that wants to purchase your property.