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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Starter home vs. forever home: Which is right for you?
Should you start with a smaller, more affordable home or stretch to buy a forever home you can stay in for the long haul?
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Selling a home in Nevada
Increased housing supply and less buyer demand are creating some headwinds for Nevada home sellers.
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Buying a house in Nevada: A how-to
If you’re looking to become a Nevada homeowner, you’re in luck: Median sale prices are on the decline.
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What is a ‘betterment’ in real estate?
The term means pretty much what it sounds like: An improvement that increases the value of a home, thus making it “better.”
2 min read Oct 10, 2022 -
What is a ‘bundle of rights’ in real estate?
This legal term lays out the rights of property ownership and what you may, and may not, do with your property.
2 min read Oct 10, 2022 -
Buying a house in Illinois: A how-to
Prices in the Chicago metro area can be exponentially higher than the rest of the state. Here’s how to buy a home in Illinois.
9 min read Oct 07, 2022 -
What is judicial foreclosure?
Judicial foreclosures, as opposed to non-judicial ones, are executed in the court system — meaning they involve a lawsuit.
3 min read Oct 06, 2022 -
What is a proprietary lease in real estate?
Also called an occupancy agreement, a proprietary lease is what gives a co-op shareholder the right to occupy their home.
3 min read Oct 03, 2022