For Sale By Owner (FSBO) FAQ Redfin Customer Service

for sale by ownerIf you are considering selling your own property without the help of a realtor, there are some important things to remember, and I’ll try to cover most of them here. Some homeowners assume they can save money by marketing their house by themselves, without the assistance of a licensed real estate professional While this may seem like a cost-saving strategy in the short term, these homeowners often end up spending a lot more in the long run – in terms of money, time, inconvenience, and unforeseen surprises.

FSBO homes require the same documentation that homes listed with real estate agents do. An accurate sellers disclosure can be provided on the listing site, but you’ll need to verify that your buyer has actually received it when it comes time to close the deal.

They will review transfer documents received from the buyers lawyer, which includes the statement of adjustments which shows credits and debits for seller and buyer, for items such as purchase price, property tax, strata fees where applicable, water account, tenant rent or damage deposits, commissions to be paid to Real Estate Agents, down payment paid by buyer and transfer of title.

There are several flat fee listing services that for a nominal fee will put your property on the Multiple Listing Service so your property is marketed to all the real estate agents in the area and is listed on the nationwide MLS 2 In exchange for this valuable market share, the FSBO Seller must agree to pay a commission to the agent that brings a buyer.for sale by owner

Some critics of the National Association of Realtors’ report believe those statistics may be misleading and suggest that the true size of the U.S. FSBO market is higher than these numbers lead you to believe because flat-fee MLS now makes up 10{7c352f4fa08585812fe49d64b966ab1fc9eda250e0643651a7855d798aa89d13} of transactions.