The "for sale by owner" terminology involves a process in real estate dealings where the property transaction is done by the buyer and the seller without any middle man. Usually, the real estate agent or broker invites you to pay the commission.
This payout could either be from the seller or from the buyer or both. The commission structure and conditions vary from country to country and even within the country.
In the US, this commission can be as high as 6% of the selling price and that is quite a big amount. People therefore want to avoid incurring costs.
In a "for sale by owner" transaction, the seller typically makes use of a marketing company to do the marketing of the property and with the help of a lawyer; he assures that the legal angle is well addressed.
Now we've talked about this arrangement from the seller's perspective. If he / she wants to make his / her request, he / she wants to take his / her job. The seller does not have any obligation to make any commission.
As an owner, if you want to take the "for sale by owner" approach, then you have to do everything on your own. The advantages you get to deal with are the same. There are many buyers who are too interested in taking the "for sale by owner" approach.
By "real estate transaction". "Real estate transaction" means "transaction by real estate transaction" middlemen.Immobilienmakler Heidelberg Makler Heidelberg
Source by Darren Cari Calumno