For Sale By Owner (FSBO): Property Records & Title Information

What is FSBO?

For Sale By Owner is when homeowners sell their property without using a real estate agent, allowing them to avoid paying agent commissions (typically 5-6% of the sale price).

How Property Records & Title Information Work in FSBO

Property Records

1. Accessing Records: Owners can obtain property records from county assessor’s office or recorder of deeds
2. Important Documents: Deed, property tax information, survey, and property line information
3. Disclosure Requirements: Most states require sellers to disclose known property issues

Title Information

1. Title Search: Confirms ownership and reveals any liens, encumbrances, or claims
2. Title Insurance: Protects buyers from future claims against the property
3. Clean Title: Required to legally transfer property ownership

FSBO Process Overview

1. Gather all property records and title information
2. Price the property appropriately
3. Market the property
4. Negotiate with potential buyers
5. Complete proper legal documentation for the sale
6. Close the transaction with assistance from a title company or real estate attorney

Would you like more specific information about any part of this process?

A helpful guide for property and real estate for sale by owner (FSBO).

When purchasing a home or property from an FSBO, check with your local
title company or online property records site to get the most current lien, mortgage and foreclosure information.

The National Association of Realtors published this article recently on
FSBO properties – “For-Sale-By-Owner (FSBO) sellers decreased in 2010, continuing a
trend in declines downward. Fourteen percent of sales were FSBOs
in 2003 and 2004, compared to just nine percent in 2010. In this
tough market, a greater share of sellers is turning to agents to help
them sell their homes.

FSBOs are more popular in rural areas. Typically FSBO sellers have lower median incomes and are more often single sellers. FSBOs are also more common for mobile homes and vacant land sales.

Many sellers who opt for FSBOs are selling their property to
someone they know like a friend, relative, or neighbor. This helps keep FSBOs
on the market for less time and more often sellers receive 100 percent of the
asking price.

FSBOs are less likely to use incentives. Yard signs and Internet
listings are the most popular method of marketing FSBOs. FSBO sellers most
often struggle with pricing and preparing homes for sale. Of those who
used FSBOs to sell to someone they knew, a greater share would use a
real estate agent when selling their current home.