For Sale by Owner [FSBO] Law and Legal Definition

For Sale by Owner (FSBO) is the process of selling one’s house by the owner himself/herself without the help of a real estate broker. Such sale can save a property owner a commission which would have to be given to a broker. A property owner will be required to devote time and energy not only to marketing and showing the house but also to learning and following the legal rules controlling sales of real estate in his/her area. The acronym FSBO is pronounced ‘fizzbo’.