If you’re like most homeowners, when it’s time to move, you’ll need the proceeds from your home sale to purchase your next house. To save on agent commissions, some intrepid homeowners in Delaware decide to take the helm of this transition and figure out how to sell a house by owner. With more than 5 million homes sold in the U.S. each year, a small portion of sellers — about 7% — choose to list “For Sale By Owner” (fizz-bow). Of those, 57% already knew their buyer, according to data from the National Association of Realtors (NAR). In this guide to selling FSBO in Delaware, we present the ins and outs of selling by owner in The First State. This includes a comprehensive overview of the full process of preparing, marketing, and closing your home sale without the help of a Realtor. FSBO is a method of selling a house without the assistance of a commissioned or flat-rate Realtor, known as a listing agent. In a FSBO sale, the seller assumes the responsibilities that would normally fall to their agent, such as pricing the property, marketing it to buyers, arranging showings and open houses, and negotiating the deal. In an agent-assisted home sale, the seller usually pays a commission of around 6% of the final price, which is then typically split 50/50 with the buyer’s real estate agent. That 6% is deducted from the seller’s proceeds at closing. When selling by owner, a seller can theoretically avoid the cost of the listing agent’s commission (around 3%*), though they may still need to offer a buyer’s agent commission.How does selling by owner (FSBO) work in Delaware?
