For Sale By Owner (FSBO)
Definition - What does For Sale By Owner (FSBO) mean?
For sale by owner means that the owner of a piece of property is selling it himself or herself without assistance from professionals in the industry. In a legal context, people who sell things themselves are responsible for completing all of the legal due diligence that goes along with the sale, such as the signing of contracts and the filling out of other relevant documents.
Justipedia explains For Sale By Owner (FSBO)
Property that can be sold by the owner includes houses, cars, land, jewelry, boats, furniture, etc. Often, people who are trying to sell their own cars will put the car on their yard with a sign on it that says, "For Sale By Owner." People selling without an agent or a broker have to do their own marketing, selling, deal-making and transactions. For more expensive items, such as a house, this process can be very complicated.
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