For Sale By Owner
Is a company: no
Is a proper noun: no
Notes: Can save the seller money by forgoing realtor fees.
- Property Guys
Definition of For Sale By Owner
- When a homeowner tries to sell his or her property without help from a Realtor. Many homeowners attempt to sell on their own to avoid paying a high commission to a Realtor.
Related Terms and Acronyms
- Housing Discrimination — Definition,
- The illegal practice of discriminating against buyers or renters of dwellings on the basis of race, colour, religion, national origin, sex, family status or disability.
- Real Estate Agent — Definition,
- A person who is licensed to represent a buyer or seller of land and the buildings and other improvements on it.
- Owner Financing (O/F, OF, OWN) — Acronym,
- A transaction in which the seller lends all or part of the money to the buyer.
- Backup Offer — Definition,
- A bid for a property that the owner will consider if the current transaction falls through.
- Real Estate (RE) — Acronym, Very Important,
- A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."
- Realtor — Definition,
- A real estate broker or an associate holding active membership in a real estate board.
- Exclusive Listing — Definition,
- A legal agreement giving one real-estate agent the right to sell a property for a specified period, but owners retain the right to sell their property themselves without paying the agent commission.