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For Sale By Owner FSBO Guide
By John Morell, FrontDoor.com | Published: 7/10/2008
If you're willing to deal with paperwork and marketing, selling your home yourself can save you a sizeable chunk of money.
It's the oldest concept in the book for selling real estate: a buyer takes a look at your place, makes you an offer, you negotiate and a deal is struck. Straight "For Sale By Owner" (FSBO) -- no real estate agent around, no one being paid a 6 percent commission on the sale.
It's also scary for most people. Selling your own home means dealing with mounds of paperwork, marketing, showing the house to looky-loos... who has time for that? But as real estate values drop, many sellers are looking at those commissions they have to pay at closing and thinking, "Why can't I sell it myself?" After all, if you can get $500,000 selling your home yourself, you've potentially saved about $30,000, which in today's market can mean the difference between a profit and a loss.
Here are some steps to help guide you through the FSBO process:
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