FSBO

What is a FSBO?

FSBO stands for “For Sale By Owner”.  It refers to a property that is being sold directly by the owner, without the representation of a real estate agent. While a real estate agent provides tremendous value while listing a property, sometimes a property owner decides to go it alone.

What percentage of transactions are FSBO?

That percentage of transactions that are FSBO can vary depending on market conditions and other factors.  In recent years, FSBO transactions have accounted for roughly 7-11% of total home sales in the United States.

In a FSBO, why should you consider hiring an attorney to prepare the contract?

Legal Compliance

Real estate contracts involve complex legal language and requirements. Without guidance, sellers may overlook important clauses or fail to comply with legal obligations, which could lead to disputes or even legal consequences.

Incomplete or Inaccurate Information

Without guidance, sellers may miss including crucial details in the contract or provide inaccurate information, such as property disclosures or terms of sale.

Risk of Errors

Mistakes in the contract drafting process can lead to misunderstandings, delays, or even the nullification of the contract.

Lack of Protection

Sellers may inadvertently expose themselves to risks or liabilities by omitting necessary clauses or protections in the contract.

Need Help?

Federal Title & Escrow Company can assist with contract preparation.  Our team of attorneys have many years of experience in reviewing and preparing real estate contracts.

Once the contract is complete, Federal Title can handle the closing and make sure all of the terms of the contract are met.

To reach out to Federal Title’s team of attorneys, please either call 202-918-9358 or email attorneys@federaltitle.com.  For a quote for buyer side services, please visit our website to get a quick quote.  For a breakdown of seller fees, please visit our Settlement Fees for Sellers.