What is “For Sale By Owner”?

For sale by owner (FSBO, pronounced “fiz-bo”) occurs when a home or building is sold by the owner without the help of a real estate listing agent or broker. In a FSBO sale Sellers avoid having to pay a real estate agent the commission fees. In a FSBO sale the Seller also will assume all the risks and responsibilities associated with the sale, such as: marketing; negotiating sale price, terms and conditions; presenting conditions of title as to liens and mortgages; preparing closing documents; preparing the deed to transfer title signed, notarized and recorded and coordinating the closing process.

The purchase of a home or property is often the biggest and expensive investment a person will make in their lifetime.   Therefore, it is important that buyers and sellers understand their respective obligations and duties in a ‘For Sale By Owner’ transaction to avoid delays and legal pitfalls.  The FSBO seller has an obligation to disclose all conditions of the property and the FSBO buyer has a responsibility to perform due diligence on the conditions of a property.

There are many reasons for buying or selling a home without the assistance of a realtor, but one service provider you can’t do without is a title agency.   In a FSBO transaction the title search and title insurance are very important.  The title search is to check that the property is clear of liens and is eligible for sale.  The very last thing you want to do is buy a house and then find out there was a lien against it, or worse, that a co-owner was not disclosed and didn’t approve the sale!  Title insurance protects the buyer from unforeseen defects in the title such as an undisclosed owner or lien. 

In a FSBO transaction Ruskin Title & Escrow serves as a neutral party to make sure all the paperwork is in order, conduct a title search and order the reports and surveys needed to transfer property ownership and provide title insurance for the buyer.  We serve as licensed escrow agents to hold the earnest money deposit, purchase money and disburse funds at closing.  Our title agents also provide notary services for document completion.  For the FSBO seller, a Ruskin Title & Escrow managed sale can ensure a proper, on-time  and efficient closing.   For the FSBO buyer, a Ruskin Title & Escrow managed closing ensures that your closing goes smoothly and safeguards your transaction.

For your FSBO transaction:
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306 N US Hwy 41, Ruskin, FL

(813) 641-0010

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