FSBO -- an acronym commonly used by REALTORS® to describe a home that is "For Sale By Owner." You¹ve probably seen these words scrolled upon signs in front of homes around our community. Why do people try to sell their own homes? Good question.
Typically, the reason is to avoid having to pay a commission to a real estate agent. Is a FSBO a viable alternative for anyone wanting to sell a house? Probably not.
The most widely used purchase agreement in the Dayton area is the Dayton Area Board of REALTORS®’ (DABR) Contract to Purchase Real Estate.
Since the purchase of a home is usually the biggest single investment most people make in a lifetime, it does make sense to understand a document which legally binds you to make that investment. And certainly sellers need to understand this document as well.
Everyone thinks their home is the best. To coin a phrase: be it ever so humble, there is no place like "home." But it is equally true that most "homes" start with a house. And houses, unlike "homes," are bought and sold. They have a market value. So it behooves a seller, when placing their house in the market, to base the asking price on market realities.