Mortgage Glossary

For Sale By Owner

Where the vendor chooses to sell property without a realtor. By doing this, the vendor hopes to save himself thousands of dollars in realtor fees. Private vendors choose to advertise their property themselves.

From the buyer's point of view, an independent appraisal will confirm whether the price is reasonable and a building inspection will indicate the soundness of the building. The purchaser will expect to pay a lower price than the appraised value as there are no realtor fees. It is very important in this situation for a lawyer to check all documentation prior to signing the contract of purchase and sale.

Some popular For Sale By Owner sites are:

FSBO-BC.com - BC For sale by owner property Listings

Property Sold.ca - Canada wide for sale by owner property listings.

We List.com - Canada wide for sale by owner property listings.

Home Sellers Information Center.com - A web site with tips on selling by owner. Also has valuable information on listing with an agent.

|Back To Glossary

BC Mortgages.ca - Working with you - offering superior service from over forty lenders.