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For Sale by Owner FAQs

What does FSBO stand for?

We have all heard the term before, but what does it mean? FSBO stands “for sale by owner.” This is a property sale where a property owner has elected not to engage the services of a realtor to list the property they wish to sell or to negotiate the sale. The buyer may or may not have a realtor involved to assist them with the transaction.   

Why would someone want to sell a house without involving a realtor?

There are a variety of reasons that a seller would elect to forego using a realtor in a FSBO transaction. For example the sale may be a related party transaction where the buyer and seller know or are related to each other. We have also handled transactions where tenants are buying from their landlord and are familiar with the property being purchased. In these settings the parties have usually come to terms on the structure of the transaction and just need the details to be properly memorialized. 

Who handles the paperwork in an FSBO? 

The law firm handles the paperwork. For example, Heise & Heise, LLP maintains a library of contracts and addendums and can handle any paperwork needed to place a valid and binding contract on a property. The library is updated regularly so that as Maryland law changes annually so are our forms. In some scenarios we have crafted special addendums to cover unique situations that are uncommon in the world of real estate.

What if I need a recommendation for a service provider? 

During the FSBO sale, you may have need of a service provider. We have assembled a list of the following service providers that have been carefully selected based on their customer service, cost and reputation in the industry.

  • Home Inspectors
  • Appraisers
  • Lenders
  • Settlement / Title Companies
  • Surveyors

What are the disadvantages & advantages of an FSBO sale?

If you search online, the most commonly-stated drawbacks to an FSBO are the limited exposure to the marketplace and the possibility of realizing less than full market value on a sale. We are able to overcome these obstacles by working with you to get your property listed with a multiple listing service (MLS) for maximum exposure. Additionally, we are able to connect you with a Maryland licensed appraiser so that you can ensure that you are pricing your house properly.

The most significant advantage of a FSBO is that a seller and buyer may be able to reduce expenses as a result of the nature of the transaction. Oftentimes, a seller may be willing to pass along a portion of what is saved on commission to a buyer in the form of a credit. This is a true win-win situation for all parties concerned.If you are questioning whether a FSBO is the right structure for you or have further questions about this type of transaction, do not hesitate to give us a call. We are here to help or point you in the right direction.

Have another question about FSBO transactions in Maryland?

Todd Heise would be happy to answer it. 

Ask Todd a Question

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"Heise & Heise...a firm you can rely on. Recently, Todd and his staff assisted me in a real estate matter. I cannot thank them enough. Every step of the way I was treated as if I was their only client. I was kept up to date on every aspect of the process. If I had a question or concern, either Todd or one of the staff was there to answer in a way that was easy to understand. I do not know what I would have done if it were not for the top notch representation I got from Todd. If you have a real estate matter that requires legal help, call Heise & Heise...I assure you, you will be thankful you did."— Joel L., Seller, Ocean City, MD
"It's certainly not an easy decision when you realize that you have to short sale your home and like many hard working people that try to make it work, sometimes it simply doesn't. '08 was hard on so many of us and the ramifications were far reaching, overbearing and didn't leave many of us with much hope or solutions. I am writing this review to personally thank Todd Heise and Melissa for all of their handwork in making this stressful process that much easier. I am truly grateful for their help, patience and expertise. I would also like to take this time to HIGHLY recommend them to any individual that is now weighing their options. Just because you feel alone, doesn't mean you have to be. Do yourself a favor and give them a call."— Oscar C., Seller, Baltimore City, MD
"Mr. Heise is absolutely wonderful! We had a short sale negotiation which lasted for a long time. If it was not for Todd, we don't believe that it would have resolved. He is an excellent Attorney with extensive experience and is prompt in his communications. We sincerely thank him for all his help and expertise. We strongly recommend him for any real estate matters."— Thamban V., Buyer, Howard County, MD

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