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For Sale Buy Owner - For Sale "Buy" Owner

A Real Estate Malapropism

home property sales sold

“For sale buy owner” is a malapropism—a common misspelling that appears when words that sound similar are translated into text. In this case, the verb “buy” has replaced the preposition “by.” Many search engines will correct this minor misspelling automatically, replacing “for sale buy owner” with the correctly-spelled phrase “for sale by owner.”

For sale by owner, or FSBO (pronounced like fizz-bow), is a real estate term that refers to how a property is being sold. Most homeowners sell their homes through a real estate agent who handles the complicated process of transferring property ownership from one party to another. When a home is for sale by owner, it is being sold without the aid of a realtor.

Homes are usually sold without realtors in an attempt to avoid paying the 5% or more commission on the sold property. This does not completely remove the overhead of home sale, as property sale still require the aid of a lawyer and certain licensing fees. Nonetheless, those familiar with or willing to research the necessary steps for property sales can stand to make significant profits by handling their sales themselves.

According to the National Association of Realtors (NAR) 2009 Profile of Home Buyers and Sellers, 11% of sellers went for sale by owner in 2009. Roughly half of these home sellers personally knew the buyer prior to the purchase as well. This is the lowest percentage of FSBO sales since the NAR began recording these transactions in 2001, when 13% of homes were sold without the aid of a real estate agent.

The most difficult tasks of marketing a home for sale by owner include pricing, understanding paperwork, and preparing the home for sale. In fact, half of surveyed home sellers listed one of these three categories as the single greatest challenge to completing their sales. NAR 2009 Profile of Home Buyers and Sellers

In response to the demand for realty-free real estate transactions, a number of websites have risen to expedite the FSBO process. Sites like FSBO dot Com, For Sale By Owner dot Com, and Sold By Owner dot Com all offer free marketing and advice on how to sell property without paying a commission. One such site—Buy Owner dot Com, has marketed itself on the “for sale buy owner” malapropism since 1984, lampshading the extra “u” with its trademarked phrase, “Buy Owner: Where it’s U that makes the difference!” As of 2009, 17% of online home buyers used a for sale by owner website to find and purchase their homes, with buyers aged 25 to 44 representing the largest demographic of these sales.

Though primarily a real estate term, the phrase “for sale by owner” is sometimes used to describe other types of transactions, particularly in vehicle sales. In this case, it is less of a business term and more a literal announcement that something is for sale.

For Sale By Owner Homes - For Sale By Owner Homes: What's the Difference? - Pros of FSBO Homes, Cons of FSBO Homes, Conclusion [next] [back] Hampton Bay Lights - For Interior or Exterior Needs - Hampton Bay Lights - Most Popular Choices of Hampton Bay Lights

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