
FSBO meaning: For sale by owner, explained
Depending on whom you ask, the FSBO model can either save money or cost you even more.
Michele Petry is a senior editor for Bankrate, leading the site’s real estate content since January 2022. Before joining Bankrate she was a writer and editor for StreetEasy, Zillow’s New York City real estate site. Before that, she amassed 20 years of experience on staff at national magazines, honing her skills editing home-based content at House Beautiful, Elle Decor and Veranda (among other titles). Michele earned her journalism degree from Syracuse University’s Newhouse School of Public Communications and is a member of the Society for Advancing Business Editing and Writing (SABEW) and the National Association of Real Estate Editors (NAREE). She lives in Manhattan.
Buying your first home is scary, stressful and thrilling all at once. I couldn’t believe a bank was willing to lend a young, clueless me what seemed at the time like SO. MUCH. MONEY. The fact that it was a New York City co-op apartment, with all the esoteric rules and nerve-racking interviews that includes, made it even more surreal. I know firsthand how important it is to have a knowledgeable real estate agent to guide you through the journey — mine specialized in my neighborhood, knew the building I was buying in specifically, and saved me from making a million naive missteps. I’m happy to use my experience and skills to help others achieve their real estate dreams.
Hire a real estate attorney for any home sale or purchase, even if your state doesn’t require you to. The contracts are complex, and the stakes are high — it’s worth the extra cost to make sure everything is legally buttoned-down.
— Michele Petry
This sales strategy allows multiple agents to market your home in an attempt to find a buyer.
This now-defunct reverse-mortgage program was backed by Fannie Mae.
This form of housing discrimination involves an agent guiding a client toward a particular area based on legally protected characteristics.
This legal principle entitles someone else to take over land that you own — but only if they meet a complex set of requirements.
The principle of eminent domain allows governments to take over private property for public use. It’s a complicated and often controversial topic.
Which purchase to make first depends on your finances, your credit and a host of other circumstances.
As the housing market boom slows down, some economists are predicting dramatic drops in home prices. Others aren’t so sure.
Married people living together spend nearly $5,500 less on housing each year than single people do.