FSBO meaning: For sale by owner, explained
Depending on whom you ask, the FSBO model can either save money or cost you even more.
6 min read
Jul 10, 2024
Michele Petry
Senior editor, Home Lending
EXPERTISE
- Real Estate
- Housing Market
- Homebuying
- First-Time Homebuying
- Home Affordability
EDUCATION
- Bachelor’s degree in Journalism, Syracuse University
- Certificates in Real Estate Ethics and Fair Housing Law, Real Estate Board of New York
- Continuing-education courses, Poynter Institute for Media Studies
About the author
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.
Michele beyond Bankrate
Michele wants you to know
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
Michele's latest articles
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If a home seller asks for your best and final offer, there are likely other bidders as well. It’s important to be strategic.
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Home title theft: How homeowners can protect themselves
The thought of a stranger fraudulently claiming ownership of your home is scary — it’s relatively rare, but it can happen.
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